Q&A for How to Price Your Jewelry Designs

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How do you determine the value of jewelry?

Jerry Ehrenwald
Certified Jeweler
Jerry Ehrenwald, GG, ASA, is a graduate gemologist in New York City. He is the previous President of the International Gemological Institute and the inventor of U.S.-patented Laserscribe℠, a means of laser inscribing onto a diamond a unique indicia, such as a DIN (Diamond Identification Number). He is a senior member of the American Society of Appraisers (ASA) and is a member of the Twenty-Four Karat Club of the City of New York, a social club limited to 200 of the most accomplished individuals in the jewelry business.

Jerry Ehrenwald

Certified Jeweler

Expert Answer

While gemological laboratories do not assign a monetary value to a product, they play a crucial role in the overall process as they provide trusted, independent grading reports. A credentialed appraiser will take the grading report from an organization such as IGI, review the item and determine its value based on their expert opinion, which again is contingent on the client’s purpose and function for needing (wanting) an appraised value. When it comes to selling price, you’ll also need to consider the market supply and demand as those will influence price as well. Normally, when selling one’s diamond jewelry, the professional appraiser, who should be an accredited member of the American Society of Appraisers (ASA), would for example, look at the item’s fair market value. This is defined a price between a willing buyer and willing seller in the normal marketplace where the item is normally traded. In many cases the appraiser would investigate the public auction market for comparables.

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Question

How much I could charge for the design of one of my pieces of jewelry?

Community Answer

It would depend on the design you have made, and how long it took you to make it.

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How to know if pearls are real?

Community Answer

See How to Tell if a Pearl Is Real .

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I need to start over with my designs, because I've learned that I need to create collections. Would it be better to reduce the prices of those original pieces or should I just start where I am?

Community Answer

It would be fine for you to do either.

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