What to do with jewellery, coins and watches in a deceased estate, from securing them to dividing or selling them.
This guide is for executors, attorneys and families in South Africa. It is general information, not legal advice. If you are unsure about your authority or obligations, speak to the estate’s attorney or the Master of the High Court.
Step 1: Secure everything
Gather jewellery, coins, watches and silverware in one safe place as soon as possible. Keep a simple list of what is there and who has access to it. Don’t hand pieces out to family members before the executor has been appointed.
Step 2: Don’t sort or throw anything away
It is very hard to tell real gold from plated or costume jewellery by eye. Broken chains, single earrings and odd pieces can be gold, and a plain-looking brooch can be worth more than everything else. Keep everything together and don’t try to test pieces with acid or by scratching them.
Step 3: Confirm who has authority
Only the executor appointed by the Master of the High Court can sell estate assets. The executor’s Letter of Executorship (or, for some smaller estates, a Letter of Authority) is the document a buyer will ask to see. Heirs can only sell pieces once they have been formally transferred to them.
Step 4: Get an itemised valuation
The executor needs values for the estate inventory, and families need values to divide pieces fairly. Ask for a written report that lists each item with a description, its tested purity and weight, and its value. Make sure testing does not damage the pieces.
Step 5: Decide what to keep, divide or sell
Agree as a family which pieces have sentimental value. Use the valuation to divide the rest by value rather than guesswork. Signed, antique or collectible pieces may be worth more at a specialist auction than as gold, so ask before selling them by weight.
Step 6: Sell safely, if you choose to
Sell only to a registered second-hand goods dealer, who must record the seller’s identity as the law requires. Get a written offer, check that it shows the weight and purity of each item, and make sure payment goes to the estate’s bank account by EFT.
Checklist
- Jewellery, coins and watches gathered and stored safely
- Simple list of items made
- Letter of Executorship or Letter of Authority
- Copy of the death certificate
- Executor’s ID and proof of address
- Any certificates, receipts, boxes and papers
- Itemised written valuation
- Family agreement on pieces with sentimental value
- Estate bank details for any payment
Mistakes to avoid
- Throwing away “costume” jewellery before it has been tested.
- Letting pieces be scratched, filed or acid-tested.
- Selling signed or antique pieces by weight without asking whether they are worth more as jewellery.
- Selling before the executor has authority to sell.
- Accepting a verbal offer without a written breakdown.
- Having payment made to a personal account instead of the estate account.
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Registered and licensed: Zeek Market Gains (Pty) Ltd · CIPC 2019/319861/07 · SAPS second-hand dealer 25/13/2/09/2022 · Member of the Jewellery Council of South Africa