Posted on: 12/03/2019Do you have jewellery that you never wear? Perhaps you've got a necklace that your grandmother once wore, or maybe your great-grandfather's wedding ring is stored away in a jewellery box somewhere?
If it's been a while since you even thought about your long-forgotten jewels and gems, now might be a good time to dig everything out as they could be worth something. In fact, based on our valuation service data from 1st January - 21st December 2018, you could discover that you're one of the lucky Brits sitting on thousands of pounds worth of jewellery.
To find out more about how much your jewellery could be worth and what to look out for if you uncover some exciting gemstones, read on...
Jewels Worth MillionsAs well as discovering the thousands we can potentially make from unwanted pieces of jewellery, or knowing the value for insurance purposes, our data revealed that as a nation we could have £31.5 billion worth in our homes. This information is based on each consumer having two items and hints at just how many precious stones and metals we possess.
Although there are a lot of us who are unaware of how much our jewellery's worth, the stats for those who did opt to get their belongings valued are revealing.
Popular PiecesThe results showed that the most popular jewellery piece valued was the classic diamond solitaire ring. This comes as no surprise as its one of the most popular engagement ring styles. The highest valued jewellery piece on the database was worth £2.5 million.
What Are You Looking For?It's worth taking the time to work out if there are any factors that could affect the value of the jewellery. Here are some of the main things to look out for when assessing each piece...
Firstly, what metal is the piece made from? The precious metals used can have an impact on the final value. For example, some metals are more valuable than others. Also, the carat, clarity and jewel itself can all affect the final amount.
Next, look at the craftsmanship involved. How do the parts fit together? Are the hinges working smoothly? Expert valuers will be able to look at the inner mechanisms to see how clasps and links are operating, however you can have a look at the texture, polish and finish to see if the piece looks pristine.
Rarity is also significant. A one-of-a-kind piece with a unique design could be worth a lot. Also, if the piece is limited edition or is a bespoke design, you might find this reflected in the value.
Possibly one of the more obvious points to consider is its condition. If there has been a lot of wear and tear over the years, this can cause the final value to drop. If there are any breakages or discoloured parts, you'll also see this reflected in the estimate.
Similarly, should you or the previous owners have taken steps to repair precious damage to a piece, this will be apparent. Adaptations or alterations may influence the value.
So, there's a lot to look out for. If you can spot some of these points yourself you might be able to get a rough idea of what your items are worth.
What's Next?Based on buying trends and current market valuations, precious metals such as yellow gold, white gold, rose gold, palladium and platinum are important when buying a jewellery piece that you may one day pass on as a family heirloom.
You could find that the gemstone and diamond jewellery you have hidden away in an old jewellery box somewhere could be worth more than you think. Up-to-date jewellery valuations are important for insurance purposes, so get looking in your old jewellery boxes!