An appraisal is not an opinion: it is a reasoned estimate of what someone would pay today for one particular piece, in the condition it is in. That is why two pieces that look alike can be worth very different sums.
What the appraiser looks at
In a jewel: the metal and its fineness (the hallmarks say whether it is 18-carat gold, platinum or silver), the weight, the stones — cut, colour, clarity and carat weight — and the work: a known maker's signature or a sought-after period (art deco, the fifties) count for more than the gold.
In a watch: the brand and the exact reference, the year, the condition of the case and dial, whether the parts are original, when it was last serviced and whether it still has its box and papers.
In a work of art: the artist and how certain the attribution is, the medium, the dimensions, the condition, the signature and, above all, the provenance: where it comes from and which papers accompany it.
Three different values
- Market value: what would be paid in an ordinary sale between private parties or in a shop.
- Replacement value: what it would cost today to buy an equivalent piece; it is the one insurers usually ask for and it is always higher.
- Quick-sale value: what you get if you have to sell now; it is the lowest.
Always ask which of the three you are being given.
What to bring
The piece, and everything that goes with it: invoices, gemstone certificates, boxes, warranties, restoration reports, old photographs. None of it is essential, but each paper removes a doubt, and doubts lower the price.
How we do it at Mercurio
You can send us photographs from the page Sell with Mercurio or book an appointment at our shop at Avenida Argentina 57 in Palma. More about our appraisals.