How to Value Jewelry
Jewelry value comes from three sources: the metal, the stones and the design or maker. Understanding which one drives the price of a particular piece is the key to valuing it fairly, whether it is a gold chain, a diamond ring or a signed costume brooch.
Last reviewed 2026-10-16 by the ValU team.
Read the marks
Look for small stamps inside ring shanks, on clasps, near the ends of chains and on the backs of pendants and brooches. A 10x jeweler's loupe makes this much easier. Common gold marks include 10K or 417, 14K or 585, 18K or 750, and 22K or 916. The three-digit numbers are parts per thousand, so 585 means 58.5 percent gold. Silver is often marked 925 or Sterling, meaning 92.5 percent silver. Platinum is commonly marked PLAT or PT with a number such as 950.
Many countries also use official assay hallmarks and maker's marks, and British hallmarks can identify the city of assay and the year. Marks are strong evidence but not proof: fake stamps exist, and some genuine pieces, especially older or repaired ones, have no marks at all.
Solid, filled and plated are very different
Several marks indicate that a piece is not solid precious metal. GF means gold filled, where a layer of gold is bonded to a base metal. GP, GEP or HGE indicate gold plating, a much thinner layer. RGP means rolled gold plate. A mark such as 1/20 14K GF describes the proportion and karat of the gold layer. Vermeil generally refers to sterling silver plated with gold.
Gold-filled and plated jewelry has little metal value, although well-made or signed pieces can still sell to collectors. Wear on high points that reveals a different colored metal underneath is a clue that a piece is plated.
Estimating metal value
For plain gold and silver jewelry, the metal is often the largest part of the value. To estimate it, weigh the piece in grams on an accurate scale, subtract an allowance for any stones, multiply by the purity and multiply by the current spot price per gram. Buyers who purchase scrap pay a percentage of that melt value to cover refining and their margin, so expect offers below the calculated figure and compare several buyers.
Testing precious metals properly, with acid tests, electronic testers or X-ray fluorescence, is best left to a jeweler or reputable buyer. A magnet test can rule out some fakes, since gold and silver are not magnetic, but a nonmagnetic piece is not necessarily genuine.
Diamonds and gemstones
Diamonds are evaluated by the four Cs: cut, color, clarity and carat weight. Small changes in any of them can change price significantly, and these qualities cannot be judged reliably from a photo. A grading report from an independent laboratory such as GIA states these characteristics and often includes a laser inscription number on the stone's girdle that can be matched to the report.
Colored gemstones are valued on color, clarity, cut, size and origin, and on whether they have been treated. Heat treatment, fracture filling, dyeing and other treatments are common and affect value. Laboratory-grown diamonds and gemstones have the same chemistry as natural ones but generally sell for much less, and they require laboratory testing to distinguish. Simulants such as cubic zirconia and moissanite are different materials that imitate diamond.
Design, maker and costume jewelry
For some pieces the design and maker matter more than the materials. Jewelry from major houses and recognized designers can sell well above its metal and stone value, especially with original boxes and paperwork. Antique and period pieces, such as Georgian, Victorian, Art Nouveau, Edwardian, Art Deco and mid-century jewelry, have their own collector markets.
Costume jewelry, made from non-precious materials, is also collected. Signed pieces from well-known costume makers such as Trifari, Miriam Haskell, Eisenberg, Weiss, Coro and Schiaparelli are often more desirable than unsigned ones, and condition matters: missing stones, discolored foiling and worn plating reduce value.
Appraisal value is not selling price
An insurance appraisal usually estimates retail replacement value, which is what it would cost to buy a similar item new or from a retailer. That figure is typically much higher than what you would receive if you sold the piece. Fair market value, the price a willing buyer and seller would agree on, is the relevant figure for selling, estate settlement and many tax purposes.
If you are selling, ask for written offers from more than one buyer and understand whether you are being offered scrap value or a resale price. For significant pieces, consider a qualified, independent appraiser who charges a flat or hourly fee rather than a percentage of the value and who is not also offering to buy the piece.
Photographing jewelry for an estimate
Use soft, even light and a plain background. Photograph the whole piece, then close-ups of every mark, the clasp and the setting. When you use ValU, include the marks and a note of the weight if you know it. The estimate can identify likely styles and show comparable sales, but it cannot test metal purity or grade a diamond; treat it as a guide for what to verify in person.
Common mistakes when valuing jewelry
- Treating a GF or GP mark as solid gold.
- Using an insurance appraisal figure as the expected selling price.
- Including the weight of stones when calculating gold melt value.
- Assuming an unmarked piece is not precious metal, or that a marked piece must be.
- Accepting the first scrap offer without comparing several buyers.
- Cleaning antique pieces with harsh chemicals or ultrasonic cleaners that can damage some stones and settings.
Emeralds, opals, pearls and many treated stones are especially sensitive to heat, chemicals and ultrasonic cleaning. When in doubt, ask a jeweler before cleaning anything you think may be valuable.
Watches deserve their own research
Wristwatches are often found alongside jewelry, but they are valued differently. Brand, model, reference number, movement, originality of the dial and hands, service history, and the presence of the original box and papers all matter. Many watches have reference and serial numbers on the case or between the lugs, which help with identification. Because high-value watches are frequently counterfeited or assembled from non-original parts, a watchmaker or specialist dealer should inspect any watch you believe may be valuable.