Selling inherited jewellery

[FizzyPink]

A few years ago I was left quite a bit of gold jewellery by an elderly relative. There’s a gold watch which was valued at £2k plus quite a few necklaces, rings and earrings.
None of it is to my taste at all and it’s just collecting dust in a jewellery box. I was wondering about selling it and buying myself a lovely piece of jewellery that I’d actually wear to remember the relative by or maybe having it all melted down and made into something else. I’m not sure what because gold really isn’t my thing.

Has anyone done something like this? And do you have any recommendations for where to take it all and get a fair price for it?

I took all mine to a jeweller but I effectively got scrap value for it

I didn’t mind as it wasn’t sentimental

A few years later I had found other bits that I initially hadn’t got rid of and put them on eBay for a much better return

You won't get much for the watch or the jewellery- just scrap. A valuation is just for insurance purposes, ie how much the insurance company will pay out if stolen.

Have you thought about approaching a jewellery maker to re-set the jewellery into a design you prefer. This will cost you, but you'll get virtually nothing.

If you want to check out the market - approach a local antiques shop and ask if they have a go-to dealer in watches and in jewellery - unlikely to be the same person. Don't take stuff in on spec - high chance the person you need to speak to will not be there. Take clear photos ( separate one for each piece) and ask them for the email address. They may negotiate a bit but don't expect the prices you see on the antiques shows on TV - they're entertainment. Local auctioneers may also be able to point you towards a dealer.
For a jeweller to re-fashion - check out your local craft guild, they usually have the county name so mumsnetshire craft guild. the jewellers themselves may not re-work, but they will know of those who do.

Is the watch a specific brand?

Are the rings 18ct solid gold or plated?

Diamonds/sapphires/emeralds or costume jewellery?

I sold all my jewellery as I needed the money for bills. Very sad now about it but heyho.

I researched the scrap gold prices online for all the jewellery shops within travelling distance until I found the one which paid the most - surprisingly a really posh independent gold design place! They gave me a price and said I’d get ten percent more if I chose to buy their jewellery with the money.

I knew how much to expect as I weighed my gold prior on small digital kitchen scales.

Some high street jewellers I initially went to quoted a price per gram on their website but when I went in they told me I’d get a third if the price! The website said the price was the same so either it or the staff lied to me. Must have thought I was stupid and scam me.

So shop around carefully, weigh it first and calculate the price you expect prior.

As a pp said, you can have your gold melted down and made onto something. I did that with family jewellery and made a torque bangle.

They took some extra gold from me for the price of making the bangle so it cost me nothing.

So you have options once lockdown is over.