If you have inherited a collection of jewellery or have pieces sitting in a drawer that you no longer wear, you have likely wondered about their true worth. When it comes to selling, the two most common paths are selling for scrap or consigning to an auction house. While the “cash for gold” route offers a quick transaction, it often leaves a significant amount of money on the table.
At British Bespoke Auctions, we frequently see items that were almost sold for their weight in gold, only to achieve many times that price in our auction room. Our goal is to ensure you don’t settle for less than what your jewellery is worth. We believe that every piece of jewellery carries a legacy that deserves to be honoured, rather than simply melted down.
Watch: A Case Study in Hidden Value
To show you the real-world difference between these two markets, we’ve produced a short video. It highlights a beautiful Art Deco ring that was nearly sold for its scrap metal value before the owner decided to seek a professional opinion.
As the video shows, the difference between a scrap offer and a final auction price isn’t just a few pounds – it can be life-changing. If you have a similar piece and are curious about its potential, you can easily send us a photo for an initial assessment from our specialists.
Understanding the Difference: Scrap Value vs. Auction Value
To make the best decision for your collection, it is important to understand how these two valuations are calculated.
Scrap Value is purely clinical. A dealer will weigh your item, check the carat of the gold (such as 9ct, 18ct, or 22ct), and offer a price based on the daily market rate for that metal. They are not interested in the gemstones, the maker, or the design. In their eyes, the jewellery is “raw material.” If a ring has a rare sapphire or was made by a master craftsman in the 1920s, that value is often completely ignored.
Auction Value (often called Fair Market Value) is much more comprehensive. When we look at a piece of jewellery, we are looking at its history and its artistry. We consider the design, the intricacy of the handmade setting, and the current desirability among global collectors. By looking at these factors, we often find that the “intrinsic value” of the design far outweighs the “melt value” of the gold.
The £5,000 Art Deco Discovery
The ring featured in our video is a perfect example of why professional insight is so vital. Based on its weight alone, the scrap value was approximately £210. To a scrap dealer, that was a fair offer based on the weight of the metal.
However, once our valuers identified it as a high-quality Art Deco piece, the value shifted entirely. The Art Deco period is a popular era for modern collectors, who prize the geometric symmetry and the bold use of stones. Because we recognised this history, we were able to market the ring to the right audience. Instead of a £210 scrap metal value sale, the ring sparked a bidding war and sold for £5,000. That is the power of a competitive auction room.
Why Antique and Vintage Jewellery is Rising in Value
You might wonder why “old” jewellery is in such high demand today. There are several reasons why buyers prefer the auction room over buying new:
- Sustainability: Buying at auction is a wonderful way to shop sustainably. You are giving a second life to a beautiful object rather than contributing to the environmental impact of modern mining.
- Unique Character: Modern, mass-produced jewellery often lacks the “soul” of an antique piece. Collectors appreciate Old European or Rose cut diamonds, which have a softer, warmer glow than the clinical precision of modern stones.
- Investment Potential: While new jewellery often loses value the moment you leave the shop, fine antique pieces tend to hold their value or appreciate as they become rarer and more difficult to find – particularly as more and more is being scrapped for metal value.
What Our Valuers Look For During a Valuation
When you bring your items to British Bespoke Auctions, we perform a thorough check to find hidden value. Here is what we look for:
- Original Boxes: If you have the original velvet-lined box from the jeweller, keep it! It provides provenance and can add hundreds of pounds to the final hammer price.
- Hallmarks: These tiny stamps tell us where, when, and by whom the piece was made. Some regional hallmarks or maker’s marks can make a simple gold brooch much more valuable to a specialist collector.
- The Cut of the Stones: Before modern technology, diamonds were cut by hand. If your jewellery has “Old Mine” cut diamonds, it tells us the piece is likely 19th-century, which can add a premium to the hammer price.
- Condition: While we expect some wear on antique items, pieces that have been well cared for will always command a higher price.
Common Misconceptions About Selling Jewellery
Many people hesitate to contact an auction house because they feel their items “aren’t good enough.” Let’s clear up a few common myths:
- “It’s broken, so it’s only scrap.” Not necessarily. Even if a gold chain is snapped or a ring is missing a stone, the design might be rare enough that a collector will buy it specifically to restore it.
- “I don’t have a certificate for the stones.” Most people don’t. Our valuers are experienced in identifying metals and stones and work closely with trusted gemologists, so you don’t need to spend money on expensive laboratory reports before coming to us. We will only recommend it if we think it would benefit the value at auction.
- “Auctions are only for expensive diamonds.” We sell a huge variety of items, from silver jewellery and mid-century watches to rare gemstones. If it has quality and character, there is a buyer for it.
How to Prepare for Your Jewellery Valuation
If you are planning to visit us, you don’t need a lot of preparation. In fact, we often advise against cleaning the items yourself, as the wrong chemicals can damage delicate stones like opals or pearls. Simply gather your items and book a valuation with our team. If you have any original documentation or history regarding where the piece was purchased, please bring that along as it helps us build the “story” of the item for potential bidders.
Frequently Asked Questions
How long does it take to get paid?
Once your item sells at auction, we typically settle the payment within 28 days of the sale date, once the buyer has paid. This ensures a secure and professional transaction for both parties.
What are the costs of selling at auction?
We are very transparent about our fees. We charge a seller’s commission, which covers the thorough research and expert cataloguing, professional photography, and marketing of your item to an international audience. We will explain all these details clearly during your valuation
What if my jewellery doesn’t sell?
We work with you to set a “reserve price.” This is the confidential minimum amount you are willing to accept. If the bidding doesn’t reach that level, the item isn’t sold, and you can choose to re-offer it in a future sale or take it back.
An Invitation from British Bespoke Auctions
We understand that selling jewellery is often an emotional journey. Whether you are settling an estate or simply clearing out items you no longer use, you deserve to be treated with kindness and professional respect. Our team is here to provide a calm, friendly environment where you can learn the true worth of your collection.
We don’t just see gold by the gram; we see the history and the beauty in every piece. If you’re ready to see what your items are worth, you can book a valuation online, at our Head Office, or in the privacy of your home. If you would prefer an initial look, feel free to send us a photo today.
We look forward to helping you discover the true value of your treasures.