What to do with old 'fine' jewelry - Update in post 11

[NCGrandma]

I wouldn’t hesitate to reuse gold from old school jewelry. My mom found my class ring recently and I’m probably going to sell it to my jeweler. I don’t have girls and doubt a DIL will want to wear it. Maybe a granddaughter but that’s so far down the pike it seems silly for me to hold onto it just in case.


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Definitely get a price estimate for the class ring, especially if it’s the old heavy (lots of gold!) style. Years ago, I sold my HS class ring and it made a surprisingly large contribution to DC's private school tuition that year.


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[erosenst]

UPDATE - went through all the stuff I no longer wear - some of which was inherited and which I never wore, and some that I wore a LOT but no longer do.

Went to a local jeweler today. Didn't bother taking the 36" strand of pearls - had researched and they're basically worthless now. Jeweler confirmed, but also confirmed to hang on and prices may come back.

About 1/2 of my stuff will be consigned - they have a large and active estate section. Mostly necklaces - bracelets have gotten longer over time and I have small wrists, so some were too small. They and everyone else has too many "good/name' watches. One of mine was a relatively heavy band and 14k, so went in the 'for scrap' pile. Other two came home with me. Of the stuff that wasn't consigned, they have a scrap dealer they work with who comes in every couple weeks. Jeweler gave me a rough estimate and said price would be confirmed when dealer came in - which happened later this afternoon (and I mostly believe this). Price is about 5% higher than estimated.

It was a fair number of pieces, although none were big stones/all that heavy. Still was $3300. Much less than appraised value at time of purchase but more than I expected - and that still leaves 8 pieces that are being consigned and should bring more than scrap value for the pieces. Interesting to me - two of the consigned are 'good CZ' - 14k gold and well made, but still surprised they will try to consign those.

So - if you have been meaning to go through jewelry - appears now is a good time to do so!!

[jgenie]

UPDATE - went through all the stuff I no longer wear - some of which was inherited and which I never wore, and some that I wore a LOT but no longer do.

Went to a local jeweler today. Didn't bother taking the 36" strand of pearls - had researched and they're basically worthless now. Jeweler confirmed, but also confirmed to hang on and prices may come back.

About 1/2 of my stuff will be consigned - they have a large and active estate section. Mostly necklaces - bracelets have gotten longer over time and I have small wrists, so some were too small. They and everyone else has too many "good/name' watches. One of mine was a relatively heavy band and 14k, so went in the 'for scrap' pile. Other two came home with me. Of the stuff that wasn't consigned, they have a scrap dealer they work with who comes in every couple weeks. Jeweler gave me a rough estimate and said price would be confirmed when dealer came in - which happened later this afternoon (and I mostly believe this). Price is about 5% higher than estimated.

It was a fair number of pieces, although none were big stones/all that heavy. Still was $3300. Much less than appraised value at time of purchase but more than I expected - and that still leaves 8 pieces that are being consigned and should bring more than scrap value for the pieces. Interesting to me - two of the consigned are 'good CZ' - 14k gold and well made, but still surprised they will try to consign those.

So - if you have been meaning to go through jewelry - appears now is a good time to do so!!

Wow $3,300 to clean out a drawer is great!!

[essnce629]

Wow $3,300 to clean out a drawer is great!!

Yeah, that's amazing! Glad it didn't just go in the donation bin!

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