What To Do With A Big Jewelry Win
What To Do With A Big Jewelry Win Question: I recently won a piece of jewelry from a contest in the U.S.
The Art of the Steal: Inside the Sotheby’s-Christie’s Auction House Scandal
Price: $8.49
The insurance retail value is 280,000 dollars and I took it to Sotheby’s and they told me that they will set the reserve at only 80,000 dollars.
Is that realistic?
Should I try another market besides the auction market?
Answer: G’day Jason and aren’t you the lucky one 
Are you asking about what it would be worth on the open second-hand market? If so you should check places like eBay.
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Insurance Appraisal Values and ALL OTHER VALUES are completely different, and I posted a special report about it just a few days ago.
You will find it here:
http://www.online-jewelry-appraisals.com/advice/how-to-sell-your-jewelry-truths-and-myths/
Hope this explains things better - but remember - you don’t have to take it to the FIRST auction house you find.
Shop around and if you need a Jewelry Appraisals Online Certificate - you can get one here.
Tags: auction house, auction market, gold, insurance, insurance appraisal, jewelry appraisals, jewelry auctions, jewelry values, second hand market, Sotheby
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July 28th, 2007 at 5:50 pm
Hey there Mr. Foard,
Thanks for replying so fast! Well, Sotheby’s is setting the reserve for the piece at $80,000 and the insurance retail value is $280,000.
Does that sound right to you? I was expecting them to set the reserve at 120k to 140k, or am I totally deluded?
Jason
July 28th, 2007 at 6:15 pm
G’day again Jason
Read the report I suggested to try and understand. The Insurance Value is 280K and Sotheby’s is suggesting an approx REALISTIC price of one third.
In the open market you should get between 10% percent to as much as 60% percent (ie: 28K to 160) but you have to find a WILLING BUYER as there is NO FIXED PRICE (read my report again).
In a PRIVATE transaction you may get the top end, but in a open market, expect to go to the lower end.
That’s all I can really add.
Jewelry Appraisals are for INSURANCE REPLACEMENTS only and have nothing to do with the second-hand or real value.