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If you’ve ever watched Antiques Roadshow, you’ll have seen those jaw-dropping episodes when someone rocks up with a dusty old trinket from the back of a cupboard.
The expert leans in, raises an eyebrow and says:
“Well….this is worth £150,000.”
Cue gasps, tears and the owner mentally calculating whether or not it means they can take early retirement.
Now, we’re not saying there’s a similar fortune hiding in your jewellery box but have you ever stumbled across an old bracelet or necklace and thought:
“Hmm, I wonder what this is actually worth?”
Maybe it was a gift years ago. Maybe it came from your nan. Maybe it’s been tangled at the bottom of a drawer for so long it’s practically part of the furniture.
You allow your mind to wander: “Could this be my big Antiques Roadshow moment?”
For most of us, unfortunately that kind of windfall usually stays in the daydream category – but with gold prices at historic highs – pieces you don’t wear anymore could be worth more than you’d expect.
Let’s start with the basics because it will really help you to understand just how much your heirloom treasures could be worth.
What affects the value of jewellery?
You might have been given it by a relative or you may have paid thousands for it years ago – will it still be worth the same? Probably not, let’s find out why.
What is it really made from?
If we’re talking about a metal-plated necklace from a one-time Topshop spree, it’s safe to say it won’t fund your retirement. However, if your jewellery is solid metal, that’s a different story.
Gold is usually the star of the show especially if it’s in the 22-24ct range. But let’s not dismiss silver, platinum or palladium either, as these metals can also hold significant value and spotting the difference isn’t always easy.
The first thing you can do is start by checking for hallmarks. These are tiny stamps often hidden on flatter parts of the jewellery. These symbols reveal the metal type and purity (you’ll find a quick reference chart below). While nothing will match having an expert look over your pieces, this first step can give you a useful clue.
And let’s not forget the sparkle factor: if your jewellery has precious stones, their size, clarity and condition will play a big part in the overall value.
How much does it weigh?
It goes without saying, if you’ve got some jewellery which contains some precious metal, the more you have of it, the more money you’re likely to get for it. Even if your chains are broken or your bracelets are tangled beyond saving, don’t discount them; the metal content still holds value. Most professional valuations will start by weighing your items to get a baseline price.
What condition is it in?
Are you hoping to sell it as a complete piece, or is it destined to be melted down? Jewellery in great condition might fetch more if it’s resellable, especially if it’s unusual, vintage or has design appeal. If its condition isn’t pristine, don’t worry, scrap gold is still valued on its metal content.
Is it design led, or branded?
Even if your jewellery doesn’t come with a Cartier or Tiffany stamp, it could still be valuable if it’s by a reputable or sought-after designer. Antique pieces with a clear history or provenance can command premium prices. Plus, if you’ve still got the original box or certificates gathering dust somewhere, dig them out – they can make a sale even more lucrative!
It’s sentimental vs. market value
It may have been passed down from generation to generation. It might have been given to your grandma on her death bed…however hard it might be for you to part with a family heirloom, it doesn’t mean to say it’s valuable to the market. The business of buying and selling metals is just that – a business. Unfortunately emotional attachment doesn’t always translate into monetary value.
If it means the world to you, maybe it’s worth keeping. But if it’s unworn and unloved, now could be the perfect time to see what it’s actually worth.
Busting myths about selling old jewellery
Myth: “It’s broken therefore worthless.”
Not true. Gold is gold, even if it’s in pieces. The same goes for loose stones or single earrings.
Myth: “The older it is, the more valuable it must be.”
Age doesn’t guarantee value. Rarity, material and demand are more important in deciding value. .
“If I paid £500 for it years ago, it must be worth the same now.”
Jewellery often doesn’t hold retail value, but rising gold prices might work in your favour.
So…how can I find out what it’s worth?
Here are a few ways to start exploring the value of your old pieces:
- Check for hallmarks
- Weigh the item: A kitchen scale can give a ballpark idea (though it won’t be as accurate as a jeweller’s)
- Search online: See if similar items are being sold or valued
- Seek professional advice: A proper valuation should give you all you need to know
Even if you’re not ready to sell, it can be helpful to know what you have – and good buyers won’t put you under pressure.
Why now?
There’s been a noticeable trend in people wanting to unlock the value of their old jewellery. High street pawnbrokers have reported a 30% rise in first-time gold customers.
A few common reasons:
- Rising gold prices
- Making space and clearing clutter
- Turning unused items into new ones
- Gifting or passing on value to loved ones
- Replacing old jewellery with something more meaningful
Do you know what your old jewellery is worth?
We’re not asking you to make any big decisions right now but if you’re curious about that old ring in your drawer, it’s definitely worth seeking out an expert to find out what value it could hold.
When you’re ready, Gold Bank offers a secure, trustworthy way to either get a free valuation or to sell your gold. You can bring your goods in to us or post it to us and we will give you a free valuation and settlement options. Find out more here.
