Old jewellery often doesn’t just evoke nostalgia — it could also be worth its weight in gold. The price of gold continues to remain relatively steady even when the economy is struggling, making your grandmother’s wedding ring or those bracelets you inherited but never wear rather valuable.
A Recyclable Commodity
Unlike antiques that may be considered valuable due to their rarity or historic value, jewellery is infinitely recyclable, and when made of a precious metal or containing precious stones, it can be re crafted into something else completely or simply enjoyed in its current form for its aesthetic appeal, without losing any of its value. Often old pieces are remade into a more modern design, and this has become a popular trend with brides who have recycled family heirlooms into wedding rings, continuing a history and keeping jewellery in the family for another generation — just in a more updated style.
Since ancient times, precious metals such as gold and silver have been recycled into new jewellery. Once gold has been extracted from the earth, it never seems to be returned — only reinvented and re-crafted. Gold is not the only precious metal used in jewellery these days, but it remains the most popular, and white gold and rose gold have also become favourites with those who prefer an alternative to the traditional yellow.
Putting a Price on Nostalgia
With old jewellery almost everything has value, even if it’s only sentimental. However, real gold pieces, luxury used Rolex watches and other classic items that have been manufactured by masters of their craft can be incredibly valuable and fetch high prices when resold. Whilst costume jewellery may not fetch much if resold unless it has historical appeal, when you are selling gold, an item is weighed to establish its worth. The heavier a piece of gold jewellery or the more sought-after it may be, the higher the value. Although nostalgia or sentimentality may add value to the owner, a purchaser won’t have the same attachment and will base a price purely on the item’s physical worth.
The less the gold content in an item, the less it will be worth, and selling jewellery simply for the gold value doesn’t always result in a high price. When purchasing an item in a jewellery store, you will be paying not only for the value of the metal, but for the craftsmanship and design that went into creating the item. A classic piece of jewellery will thus also fetch a higher price if it is sold for its aesthetic properties, if it has significant historical value or if it comes from a very sought-after period.
When selling jewellery or watches, it is important to determine the correct value of a piece, and an appraiser would be able to assist in determining its worth. Although pieces may have been passed down from generation to generation, they may not always be valuable. However, if they are made of gold, contain precious gems or were created by a renowned brand and are a collector’s item, they could fetch a very good price.