LARGE ESTATE APPRAISALS AND SALES
HOW TO HANDLE A LARGE ESTATE AND THE SALE OF IT
Jewelry estates can range from a few small pieces to dozens of expensive items. The first step is to have the items appraised. Having the items appraised allows you to understand what you have from a quality standpoint, all the way to a monetary value.
Most people are only interested in the monetary value of the estate but that is a misstep in this process. Knowing the quality of the estate provides an understanding of the individual pieces. If you want to sell the estate, later on, having the knowledge of the quality and significance of your pieces gives you an advantage when negotiating the prices. Without an appraisal for each piece, you will not have the ability to 1) do your own independent research, 2) be an educated seller of your pieces, 3) share the estate with multiple buying outlets.
For example, a diamond can vary significantly based on the quality, cut, color of the stone. Not having an appraisal of that stone, you lose the ability to demand the true value of the diamond.
Once you have the estate appraised and have a breakdown of each piece, this is when pursuing the sale of the estate lot is best. Going through a consultant or an appraiser is the most strategic move at this point. Bringing the estate to one jewelry store or one auction house minimizes your ability to garner the highest possible price. Consultants and appraisers have a wide network of auction houses and jewelers that may have an interest in the estate. This is where having the appraisal becomes important. Instead of sending the estate to these different jewelers or auction houses, the appraisal will be sent which will give the potential buyers all of the information they need to submit a price. Any buyer that has a potential interest can then submit a bid for the estate which will bring the highest, most competitive price.
If you or somebody you may know has an estate, reach out to Shane Group Appraisals for a free consultation on their different options for having it appraised and sold.