What to do with your inherited jewelry?

When a member of your family passes away, the transfer of their jewelry is done in accordance with the rights and laws of the civil code. But once you have this jewelry in your possession, the question arises of what you should do with it. This article is designed to help you explore your options and best manage this precious inheritance.

What options should be considered?

The first question to ask yourself is: what do you want to do with these inherited jewels? You have three options:

Keep them:

You may choose to keep the jewelry for its sentimental value, considering it a precious family heirloom to be preserved.

Transform them:

If you wish to wear these jewels but want them to better match your style, it is possible to have them transformed by an expert. However, make sure that this is done carefully so as not to alter their initial value. Indeed, certain modifications such as recutting a gemstone or altering the original hallmark, can affect the historical value of the pieces.

Sell them:

You might also consider selling these jewels for some cash.silver interesting. This can be done by direct sale or at auction, with a reserve price generally close to their estate value.

The importance of estimation

Whether you decide to sell, transform, or keep your inherited jewelry, having their value estimated is an essential step, even more so if they have precious stones.

Why estimate your jewelry?

The appraisal allows to know the true value of the jewelry, often underestimated or overestimated due to the emotional attachment of the family. An accurate appraisal helps to avoid disagreements between heirs and to ensure a fair sharing.

Who can appraise your jewelry?

For a reliable estimate, call on experts such as diamond dealers or gemologists. Their expertise is based on the evaluation of the quality criteria of the stones, including size, carat weight, color and clarity. The presence of documents, original boxes, photos and certificates of authenticity increase the value of the heritage by attesting to its authenticity.

Certification and protection of your jewelry

Why get certified?

Obtaining a certificate of authenticity is crucial. Not only does it allow you to properly insure your jewelry, it also provides proof in case of loss or theft.

Sell your jewelry

Please note that the repurchase price of your jewelry may differ from its initial purchase price, due to margins and fluctuations in the prices of metals and precious stones.

Additionally, if you sell a piece of jewelry for more than the purchase or inheritance price, you may be subject to capital gains tax, depending on whether you have owned the item for more or less than 22 years.

Anticipating the management of your inheritance

A proactive approach is to inventory your jewelry while you are still alive, deciding whether to sell it, leave it directly to loved ones, or write a will. This method may seem daunting, but it eliminates uncertainty about the value and distribution of assets.

In conclusion, managing a jewelry inheritance requires careful planning and expert help. Whether you want to preserve, transform, or sell it, appraisal remains a key step in ensuring that you get the most out of your legacy.