When choosing which jewellery to wear, do you ever wonder what it’s really worth? By the value of your jewellery I mean the price you could sell it for now, rather than the price you actually bought it for.

Trying to figure out that magic number is harder than it seems because there are a number of factors you need to take into account. You have to remember though that when you bought that lovely piece of silver jewellery, you payed the price that the shop was selling it for, which is not the price it’s worth.

When buying jewellery from a store, you have to pay the mark up that the store puts on to make a profit, plus the manufacturers fee that they charged the store for the item. This figure is not easy to get hold of, but the mark up that the manufacturer puts on the product is even harder. The manufacturer of the item will put their own mark up onto the jewellery to ensure that they make a profit on the cost of materials and labour that it took to make the product.

Due to the jewellery mark ups, you never end up paying to actual value of the item, so how do you know what it’s true value is? The main factor to look at when trying to value your jewellery is the value of the actual materials that are used to make it. Say you have some silver gemstone jewellery or silver pendants. By weighing the precious metals and finding out the current scrap price for the metal, you can work out the value of the materials used in your jewellery. You will also need to think about any other materials on the piece, jewels will often have an affect on the price, these can be value by a local jeweller if you are unsure.

Once you find the actual value of the raw materials, it will come as a shock because the scrap metal value will only be around 15% of the price you payed for the piece. However, there are a range of other factors that will have an effect on the value.

When selling jewellery, sentimental value also comes into account, a piece of jewellery that means something to you will be worth more than something that you don’t care much about. The manufacturer of the piece also has an affect on the value. If you manufacturer is famous, this will add some value to your jewellery piece. This is a very hard value to judge because the manufacturer may be popular because a celebrity was seen wearing it, or just that they have a high quality of craftmanship.

Overall, unless the manufacturer has gained some credability, the price you pay for your jewellery will be more than it’s actual value. Unfortunate, but true.

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