Appraised for $7500, Actually Worth $500

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I grew up on Long Island, where there was recently a traveling auction show.

The way the "shows" work is that someone rents a home, or space in a hotel. 

At said location, they might sell jewelry “at auction” for a fraction of their inflated "independent"  appraisals, as the jewelry is supposedly from "people that really need to sell".  Further, somehow they are able to sometimes sell multiple of their "one of a kind" pieces.

Aside from costume jewelry that is usually cheap and "just for fun", I would recommend only buying real jewelry from reputable sellers that also allow you to have recourse.  

At the end of the day, that “appraisal” for $7,500 from a "company" that disappears is not going to help you resell an item actually worth $500 to a professional jeweler like me or help your purchase become a sound investment.

So, please be careful with traveling shows and if you need my help or opinion on something specific, please ask.

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  • Andrew Fabrikant