When a piece of jewellery is passed down through a family, it’s rarely just about the gold or gemstones.
An inherited ring, bracelet or brooch often carries with it the stories, memories and emotions of the people who wore it before you.
A grandmother’s engagement ring may symbolise decades of commitment and family heritage, while a simple locket with old photographs can feel more valuable than any diamond necklace in a shop window.
But when it comes time to have that piece appraised, you might wonder: how do you balance the sentimental value with its market value?
What’s Considered in a Professional Jewellery Appraisal
When it comes to valuing inherited jewellery, appraisers look far beyond the sparkle on the surface.
A professional appraisal is a careful process that considers both the physical attributes of the piece and the context in which it was made.
Here are some of the factors that are taken into account:
Materials & Craftsmanship
The foundation of any appraisal starts with what the piece is made from.
The type and purity of precious metals are assessed, and hallmarks are checked to confirm gold, platinum or silver content.
Gemstones are carefully examined for quality, cut, clarity, carat weight, and whether they are natural or treated.
Lastly, the craftsmanship also plays a role, as a well-constructed piece with fine detailing will naturally hold greater value.
Design & Era
Jewellery often reflects the style and influences of its time.
A Victorian mourning brooch, an Edwardian diamond pendant or a bold Art Deco bracelet will each appeal to collectors for different reasons.
Understanding the period and design characteristics can dramatically influence the valuation, especially when certain eras are particularly sought after in the market.
Condition
Just like antiques or artwork, jewellery can show signs of age.
Wear on settings, replaced stones or previous repairs can affect the piece’s integrity as well as its value. Conversely, well-preserved pieces that retain their original design and structure often appraise higher.
Provenance
The story behind the piece can be just as important as the piece itself.
Documentation such as receipts, certificates of authenticity or records of ownership add credibility and value. Items linked to well-known designers, luxury brands or notable owners are also often more desirable.
Market Trends
Finally, no appraisal is complete without considering current demand.
For example, coloured gemstones may be highly popular one year, while vintage gold pieces could dominate the next. Auction results and resale values provide useful context and ensure the valuation reflects real-world demand at the time of appraisal.
The Gap Between Sentimental and Market Value
One of the most striking things about inherited jewellery is the difference between what it means to you and what it might mean in financial terms.
For instance, a family heirloom that has been lovingly worn for decades might show signs of wear or be made from less rare materials. To you, it represents generations of love and history. To a valuer, it’s assessed against objective criteria such as metal content, gemstone quality and market demand.
On the other hand, something that appears quite ordinary could surprise you by being highly valuable. Rare designs, certain eras or even understated craftsmanship can make these pieces very attractive to collectors and push their market price much higher than you’re expecting.
This is why it’s important to distinguish between sentimental value and market value.
The heart often says “priceless”, while the appraisal provides a realistic figure.
Understanding both perspectives is what’s going to help you make informed choices, whether that means insuring a piece, deciding to sell or simply appreciating it as a treasured keepsake.
When Sentiment Affects Decisions
Once a piece has been appraised, families are often faced with the question: What do we do with it? This is where sentiment often plays the biggest role.
In many cases, families choose to keep jewellery regardless of its appraised value. An heirloom may not fetch much at auction, but its worth as a symbol of love, legacy and connection makes it far too precious to part with.
There are, however, times when selling inherited jewellery makes practical sense. Some families decide to sell items to help cover inheritance tax, meet financial needs or simply because the piece is never worn.
In these situations, knowing the professional market value allows you to make an informed and fair decision.
Jewellers and valuers are well aware that these decisions can be emotional. A good valuer will respect the story behind a piece, even while delivering a factual appraisal. And it’s this balance that helps families feel reassured that both heart and market value are being considered in the process.
Tips for Families with Inherited Jewellery
When it comes to inherited jewellery, there’s no one right way to handle it.
Every family’s situation is different, so here are a few tips that can help:
- Keep any documentation. Receipts, certificates of authenticity and valuation reports all add important context to a piece. Even family stories are worth noting down.
- Get regular appraisals. Markets change, and so do insurance requirements. A professional appraisal ensures you always have an up-to-date understanding of your jewellery’s financial worth. This is especially important if pieces are insured or may need to be included in estate planning.
- Consider repurposing and redesign. If a piece isn’t to your taste or isn’t practical to wear, it doesn’t mean it has to sit in a box. By repurposing inherited jewellery, the sentimental connection is preserved while making the piece more wearable.
- Balance emotion and practicality. Ultimately, decisions about inherited jewellery are often as much about emotion as they are about money. The right choice is the one that feels true to both your memories and your present circumstances.
In Closing
Inherited jewellery carries stories that no price tag can capture, but understanding its market value helps you protect it, insure it and make informed choices for your family. By recognising the difference between sentimental worth and appraisal value, you can honour the memories while doing what’s practical today.
If you’d like expert guidance, contact Martins of Glasgow for a professional appraisal.