When diamonds aren't forever.Here are tips for auctioning off your gems Do you have an old diamond ring you'd like to sell, or some jewelry you've inherited that you'd like to auction? Increasingly, auctions--whether held in traditional auction houses or online--are ways to easily reach an audience of buyers. But before you visit an auctioneer, there are several steps that you should take to determine the value of your diamond. First, your item must be assessed by an appraiser A person selected or appointed by a competent authority or an interested party to evaluate the financial worth of property. Appraisers are frequently appointed in probate and condemnation proceedings and are also used by banks and real estate concerns to determine the market . That person will have the complex job of determining the ring's value based not only on the 4Cs (the color, clarity, cut, and carat weight) but also on the quality of the workmanship. The appraiser can also determine if it was made by a prominent maker, like Tiffany & Co., for example. "Only a trained eye can distinguish the difference in stones once they are in settings, so an appraisal accompanying a piece is an added incentive for the buyer," says Joanna Brannock, a contributing editor A contributing editor is a magazine job title that varies in responsibilities. Most often, a contributing editor is a freelancer who has proven ability and readership draw. for jewelry at BiddersEdge.com (www.biddersedge.com), an online portal to more than 200 auction sites. Based on market value and the condition of the stones, your diamonds may appreciate or depreciate depreciate v. in accounting, to reduce the value of an asset each year theoretically on the basis that the assets (such as equipment, vehicles or structures) will eventually become obsolete, worn out and of little value. (See: depreciation) over time due to whether or not the jewelry has been damaged, its rarity, or if it has remained in its original condition. After you have determined the value of your stone, you must decide what medium you will use to sell it. Christie's and Sotheby's are well-known auction houses, however affected by the recent scandals surrounding them. "Usually with auctioneers, you can expect non-estate pieces to get between a quarter to one-half of the retail price it sold for when it was new," says James V James V, king of Scotland James V, 1512–42, king of Scotland (1513–42), son and successor of James IV. His mother, Margaret Tudor, held the regency until her marriage in 1514 to Archibald Douglas, 6th earl of Angus, when she lost it to John . Jolliff, executive director of the National Association of Jewelry Appraisers (410-897-0889) in Annapolis, Maryland “Annapolis” redirects here. For other uses, see Annapolis (disambiguation). Annapolis is a city in the United States of America with a population of 36,408 (July 2006 est.), the capital of the State of Maryland and the county seat of Anne Arundel County. . Second, decide what type of audience you are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. . Would you like a mass audience, or do you possess a unique piece of jewelry that you only want to be considered by serious collectors? If you are going to use online auction sites such as eBay or Yahoo!, find out how pieces similar to yours are listed and if the site receives a portion of the sale. Although eBay allows you to register for free, it charges 25 cents to $2 to list your diamond, and once it is sold, their commission is about 5%, depending on the final closing price. "Make sure you are very descriptive in listing your diamond, provide very good images, and be honest about what you have," instructs Shira Levine The subject of this article may not satisfy the notability guideline for Biographies. If you are familiar with the subject matter, please expand or rewrite the article to establish its notability. , senior manager of jewelry and gemstones for San Jose San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , California-based eBay. Before you auction your diamond, be sure that the auction house has a means to "rate" the seller for potential buyers, something both eBay and Yahoo! have. "We have a feedback rating system where buyers and sellers are given a point every time they get positive feedback," explains Levine. Also, make certain there are protection mechanisms, such as insurance and escrow services, on the site. There should also be a variety of payment systems, such as Billpoint, an electronic payment service that eBay makes available, which allows sellers to accept credit cards or electronic checks, or PayPal. "The important thing to remember is to educate and inform yourself. Ask questions until you are completely satisfied," advises Brannock. CUT More than any other quality, cut determines the fire and brilliance of a diamond. COLOR A stone's beauty and value usually increase dramatically the more colorless col·or·less adj. 1. Lacking color. 2. Weak in color; pallid. 3. Lacking animation, variety, or distinction; dull. See Synonyms at dull. it is. The spectrum ranges from light yellow, "Z," to totally colorless, "D." CLARITY It is possible to find some imperfections in almost every diamond --inclusions--that affect a diamond's value. Clarity grades range from "I" (imperfect) to "FL" (flawless). CARAT Carat is the standard measure of a diamond's weight. But size alone is almost meaningless unless you consider cut, clarity, and color. Appraisal Associations * American Gem Society The American Gem Society (AGS) is a trade association of retail jewelers, independent appraisers, suppliers, and selective industry members, which was founded in 1934 by Robert M. Shipley, who also founded the (GIA). 8881 West Sahara Ave. Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , NV 89117 702-255-6500; fax: 702-255-7420 www.ags.org * American Society of Appraisers 555 Herndon Parkway, Suite 125 Herndon, VA 20170 703-478-2228 or 800-272-8258 fax: 703-742-8471; www.appraisers.org * Appraisers Association of America Inc. 386 Park Ave. So., Suite 2000 New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10016 212-889-5404; fax: 212-889-5503 www.appraisersassoc.org * International Society of Appraisers 16040 Christensen Rd., Suite 102 Seattle, WA 98188-2929 888-472-4732 or 206-241-0359 fax: 206-241-0436; www.isa-appraisers.org |
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