Does jewelry hold it's value?

[lotsahats]

I'm thinking specifically of my wedding ring. It's just a 10 karat gold band that we paid $80 for ten years ago. No diamonds, or gems of any kind--just a band (I don't really do jewelry). I'm working on the paperwork for my attorney, and I'm trying to determine the value of my stuff. Should I put what we paid for it back then? Or has its vlaue diminished?

Obviously, I'm not an expert on jewelry.

BTW, wedding rings are not automatically exempt in my state.

[DYLAN150]

I am sure it mean's the world to you but really has not much money value.

[AngelinaCatHub]

All jewelry loses up to 50% the minute you buy it. It is worse than a car you buy new. As a ring, and ten karat, it is called "junk jewelry" when pawn brokers buy it. I would not put more than $20.00 of value just for "scrap".

Not being rude as you cannot price sentimentality, but only it's practical value.

For others, here is how things are priced: You get an 1870s Colt revolver; it has one price, let's say $100. Now, there are papers that prove it was at Custer's Little Big horn, now it's worth $1000. Let's say you have papers to prove it was General Custer's personal gun, $10,000. What the market bears. 'Hub

[lotsahats]

Thanks, Hub. I guess I don't have to worry about them taking it, then.

[justbroke]

I'm no jewelry appraiser, but gold has appreciated significantly over the last 10 years. The ring may still be worth $80. If you think a pawn broker would give you $40, then just put $40 gold wedding band.

[catleg]

If you've ever watched Pawn Stars, you know that you won't even recoup melt value when you go to sell it.
10k means it is 41.6% gold. Chances are $50-100 is in the ballpark.

[AngelinaCatHub]

If you've ever watched Pawn Stars, you know that you won't even recoup melt value when you go to sell it.
10k means it is 41.6% gold. Chances are $50-100 is in the ballpark.

Well you're near close. Let's say a Troy ounce is $2000, and there are 16 grams in a Troy ounce divided by 40%, would be near that amount. Not worth our OPs concern. 'Hub

[TomTea31]

would this be the same for a ring that does have diamonds in it? Both my rings are 10k but have diamonds in them. I priced them at $150 for both but now I'm thinking they might be able to go lower? One has about 1.5 diamond and the other just has chips. I doubt these are high quality diamonds. I got them from Kmart during a closing event.

Thanks

[pinkpeanut01]

I had my engagement and wedding rings appraised (for free) at the jeweler from which they were purchased. Surprised me that they appreciated. I had more than enough exemption money available to include the appraised value, so I included a copy of the appraisal when I gave my paperwork to my attorney.

[OhioFiler]

I had my engagement and wedding rings appraised (for free) at the jeweler from which they were purchased. Surprised me that they appreciated. I had more than enough exemption money available to include the appraised value, so I included a copy of the appraisal when I gave my paperwork to my attorney.

Reads like you may be well over-analyzing your asset values. Assume garage sale value on everything.

[ValleYum]

The thing is, pinkpeanut01, if you needed to liquidate those rings - turn them into cash quickly - would the jeweler give you the amount he appraised them for? Very few jewelers will - if yours would you'd be very lucky.

Could you get the amount he appraised them for from a pawn shop or on Craigslist? It's again, not the norm. This is why people say "garage sale prices".

Glad you had the exemptions to cover them.

[pinkpeanut01]

I put garage sale prices for everything other than the rings. Like I said, I had the exemptions to cover them (actually ended up with $2000 unused exemptions), so I just included the appraisal and was done with it. (I've already been declared a no-asset case.) I was more or less replying to share my surprise that my jewelry appreciated, likely due to the rise in gold prices. I definitely understand though and agree that garage sale prices are the way to go. Every one of my CDs and DVDs were listed at $1. Sorry if I added any confusion or bad advice.

[ValleYum]

I put garage sale prices for everything other than the rings. Like I said, I had the exemptions to cover them (actually ended up with $2000 unused exemptions), so I just included the appraisal and was done with it. (I've already been declared a no-asset case.) I was more or less replying to share my surprise that my jewelry appreciated, likely due to the rise in gold prices. I definitely understand though and agree that garage sale prices are the way to go. Every one of my CDs and DVDs were listed at $1. Sorry if I added any confusion or bad advice.

You didn't say anything wrong at all! I was trying to explain why everyone keeps saying garage sale prices - no biggie since you had the exemptions to cover it! Yay!

[lotsahats]

You didn't say anything wrong at all! I was trying to explain why everyone keeps saying garage sale prices - no biggie since you had the exemptions to cover it! Yay!

I've never given it any thought, but your explanation makes perfect sense. You're supposed to price everything as though you're desperate for cash now.

[ValleYum]

I've never given it any thought, but your explanation makes perfect sense. You're supposed to price everything as though you're desperate for cash now.

And JG Wentworth (Golly, I hate those commercials!) isn't sending you any cash now. hahaha I will be humming that all night.