You buy a gorgeous diamond ring and are thrilled to wear it! 

Five years later it no longer suits your lifestyle and it is time for a change. Walking into a jewelry store you are shocked and hurt to learn that the ring is worth far less than what you paid. Why? 

Fair Market Value is the cash (market) value of an item, between a willing buyer and a willing seller, neither being under compulsion to buy or sell. 

Translation? 

Jewelry has a fair market value of approximately 1/3-1/5 of the retail value. Of course there are always exceptions for branded jewelry that is in high demand, or in reverse, jewelry that is no longer fashionable that suffers from finding a market. 

Watches prior to the pandemic were valued from 1/5-1/10 of retail – now, several years later, after the pandemic shutdowns of the major Swiss manufacturers, there are some brands like Rolex, Patek Philippe and Vacheron Constantin that are selling used for over retail prices because they are either rare or cannot be obtained in the US.

The value of fine art is based on the volatility of its’ own markets, with specific genres fluctuating within the current trends. Contemporary art is still very strong, whereas other types of art such as Latin American and European have softened over the years. In order for fine art to have “value” in the secondary market, it needs to have been offered at auction to have a publicly established selling price. If the artwork has solely been offered in galleries, it will not have a secondary value and may be considered “decorative”.  

Market Values ebb and flow, and are in constant flux. Jewelry relies on the ups and downs of global economic stability, fashion, influencers, etc. Art relies on world trends and collectors. Silver and coins are based on the metal markets and demand. Each market for valuable personal property has its’ own nuances, and it is always good to review annually.

For an up to date value of your personal property, please call Dana directly for a complimentary appointment at (310) 736-5896, or email LuxurySellingSolutions@gmail.com.