Category: Estate Planning

Estate Liquidation in Collierville, TN: A Practical Checklist for Maximizing Value (Without the Stress)

A clear plan for families, downsizers, and executors managing a full household

When you’re sorting an estate in Collierville—whether it’s a parent’s home near Poplar Avenue, a downsizing move to a smaller place, or a probate timeline that doesn’t wait—“just sell everything” rarely works. The best results usually come from a structured estate liquidation plan: deciding what sells best in-home, what belongs online, what should be specialty liquidated (vehicles, collectibles, precious metals, firearms), and what to donate or discard after the sale.

This guide lays out a step-by-step checklist you can follow before you schedule an estate sale or auction, so you protect sentimental items, avoid preventable value loss, and keep the process discreet and manageable.

Local SEO focus: If you’re searching for estate liquidation Memphis services while located in Collierville, Germantown, or Bartlett, you’re in a common situation: you need a Memphis-area team that understands local buyer demand and can market to both local shoppers and online bidders.

What “estate liquidation” actually includes (and what it should include)

Estate liquidation is the organized sale of personal property—furniture, décor, tools, jewelry, collections, vehicles, and more—so the estate can be settled efficiently and fairly. A professional liquidation plan usually covers:

• Sorting and identifying items with “specialty” value (coins, gold/silver, firearms, collectibles, classic cars)
• Choosing the right sales channel (private in-home sale vs. online auction vs. buy-out)
• Staging, pricing, photographing, advertising, and managing buyers
• Post-sale cleanout planning (donation, trash, haulers, final sweep)
The biggest difference between a smooth liquidation and a stressful one is whether you’re making decisions early—before items get moved, “helpfully” given away, or accidentally thrown out.

A value-first checklist: what to do before you sell anything

Use this checklist to avoid the most common (and costly) pitfalls families run into when clearing a home.

Step 1: Secure documents and high-risk valuables

Before open-house showings or even extended family visits, set aside:

• Personal IDs, passports, military papers, titles, insurance policies
• Checkbooks, credit cards, tax records
• Firearms and ammunition (store safely and discreetly)
• Jewelry, coins, precious metals (even if you think they’re costume)

Step 2: Don’t “pre-donate” until you’ve screened for collectible categories

In Memphis-area estates, value is often hidden in ordinary-looking places: garages, china cabinets, desk drawers, closets, and tool benches. Before donation runs, flag these categories for a quick professional review:

• Vintage tools, fishing/hunting gear, and yard equipment
• Mid-century furniture, signed art, and regional collectibles
• Coins, bullion, and sterling (often mixed with everyday flatware)
• Military items, knives, and sporting goods

Step 3: Pick the best sales channel (in-home, online auction, or buy-out)

A “one-size-fits-all” sale can leave money on the table. Many households benefit from a blended approach—especially when there are specialty assets or a tight timeline.
Option Best for Watch-outs
Private in-home estate sale Full households with strong local shopping demand; furniture, décor, everyday items Requires staging, pricing discipline, and controlled entry for security
Online auctions Collectibles, smalls, niche items; reaching bidders beyond Collierville Photography, accurate descriptions, and pickup logistics matter
Buy-out Tight deadlines, out-of-town heirs, or homes needing quick cleanout Convenience-focused; may trade some upside for speed
If you’re unsure which route fits your situation, Memphis Estate Sales offers guidance and planning support—especially useful when the estate includes vehicles, precious metals, or firearms that shouldn’t be handled casually.

Step 4: Understand taxes and compliance (the simple version)

Tennessee has rules that can affect whether sales tax applies to “casual and isolated” sales by people not in the business of selling—plus special treatment for certain registered items like motor vehicles. For example, Tennessee’s rules describe a “casual and isolated sales” exemption and note that it does not apply to certain items like aircraft, vessels, and motor vehicles required to be registered. (law.cornell.edu)

Also, if you’re selling through online platforms, marketplace collection rules can come into play depending on the structure of the sale and where the buyers are located. (tn.gov)

Practical takeaway: Ask your estate liquidation provider how they handle tax collection and reporting for each channel (in-home vs. online), and how registered assets (vehicles) are handled. For estates with probate or trust administration, it’s also smart to confirm requirements with your attorney or tax professional.

Quick “Did you know?” facts that help families avoid mistakes

Did you know: Some categories (especially coins, bullion, jewelry, and small collectibles) often perform better when marketed to a broader audience via online auction formats—because demand isn’t limited to who shows up in the neighborhood that weekend.
Did you know: Under federal rules, out-of-state transfers of firearms between non-licensees are restricted, with specific exceptions for inheritance by bequest or intestate succession. That’s one reason estates should use a compliant, documented process for firearm liquidation and transfers. (regulations.atf.gov)
Did you know: Even when state law doesn’t require paperwork for a private firearm transfer, keeping a record (like a bill of sale with identifying details) is often recommended for accountability and clarity. (legalclarity.org)

How professional estate liquidation maximizes returns (what to expect)

If you hire a full-service team, your value typically comes from process and reach—not just “having a sale.” Strong liquidation companies focus on:

• Staging that sells: clean sightlines, grouped categories, and good lighting so shoppers buy more per visit
• Accurate pricing: grounded in current demand, not what items “should be worth”
• Advertising that targets real buyers: local shoppers for furniture + online bidders for specialty items
• Security and discretion: controlled access and thoughtful handling of sensitive items
• Post-sale cleanout planning: donation coordination and final clean sweep so the home can move to the next step

Collierville angle: what sells well locally (and what usually needs online reach)

Collierville estates often include a mix: well-kept furniture, decorative home goods, garage and garden equipment, and sometimes multi-generational collections. Here’s a practical way to think about local demand:

• Often strong locally: quality furniture, patio sets, tools, kitchenware, holiday décor, lamps, rugs
• Often stronger online: rare collectibles, certain coins, niche vintage categories, specialty pieces with national buyer bases
• Needs specialty handling: firearms, precious metals, and vehicles—where compliance, documentation, and accurate valuation matter
If the estate is in a neighborhood with HOA parking limits or tight streets, a professional team can also plan traffic flow and pickup windows to reduce disruption.

Explore services and FAQs (helpful if you’re comparing options)

If you’re weighing a private in-home sale versus online auctions—or you’re dealing with a partial estate, buy-out timeline, or specialty liquidation—these pages can help you understand what’s available:

• Estate Liquidation Services in Memphis

Overview of private estate sales, online auctions, and specialty liquidation categories.
• Estate Sales, Online Memphis Auctions & FAQs

Quick answers on process, timing, and what to expect before and after a sale.
• About Memphis Estate Sales

Learn about the team and the integrity-first approach behind their work.

Ready for a discreet, professional estate liquidation plan?

If you’re managing an estate in Collierville (or nearby Germantown, Bartlett, and the greater Memphis area), a short consultation can clarify the best sales channel, timeline, and how to handle specialty items safely.
Schedule a Consultation

Prefer a quick overview first? Use the FAQs above to compare options.

FAQ: Estate liquidation in Collierville & the Memphis area

How long does an estate liquidation usually take?

Timing depends on home size, item density, specialty categories, and whether you use a blended approach (in-home + online). Many families start with an initial walkthrough, then scheduling and prep follow based on your goals and deadlines.

Should we clean the house out before calling an estate sale company?

Usually, no. Removing items too early is one of the top reasons value gets lost. Instead, secure documents and obvious valuables, then schedule a professional evaluation so you know what should be sold, donated, or discarded.

Are estate sales in Tennessee subject to sales tax?

Tennessee rules describe circumstances where “casual and isolated” sales by people not in the business of selling may not be subject to sales tax, and they also outline exceptions (including certain registered items like motor vehicles). (law.cornell.edu)

Because each estate and sales channel can be different (in-home vs. online platform), it’s best to ask your liquidation provider how tax collection is handled and verify any probate- or trust-specific concerns with your attorney or tax professional.

What’s the safest way to handle firearms during estate liquidation?

Start by storing firearms safely and discreetly while you confirm who has legal authority to transfer them (executor/administrator, trustee, or rightful heir). Federal rules restrict transfers to out-of-state residents between non-licensees, with specific inheritance-related exceptions. (regulations.atf.gov)

Tennessee does not require a bill of sale for private transfers, but documentation is commonly used to protect both parties and clarify the transfer details. (legalclarity.org)

What items typically do best in online auctions?

Smaller collectibles, coins, certain vintage categories, and items with buyers outside the Memphis area often perform well online—especially when listings have strong photos and clear descriptions. Online auctions can also help when local foot traffic alone isn’t enough to find the right buyer.

Glossary (quick definitions)

Estate liquidation: The organized process of selling personal property from an estate or downsizing household to convert items into proceeds.
Buy-out: A fast option where a liquidation company purchases the remaining contents (or an entire estate) in a single transaction, often used when timelines are tight.
Online auction: A timed bidding sale conducted through an online platform, typically used to expand reach to regional and national buyers.
Casual and isolated sale (TN): A concept in Tennessee tax rules describing limited, infrequent sales by people not in the business of selling (with important exceptions). (law.cornell.edu)
Bequest / intestate succession: Legal terms for inheritance through a will (bequest) or when someone dies without a will (intestate succession). These terms can matter for lawful firearm inheritance rules across state lines. (regulations.atf.gov)

Estate Liquidation in Collierville: A Practical Checklist for Maximizing Value (and Reducing Stress)

A calm, organized way to handle an estate sale—especially when time and emotions are running high

When a home in Collierville needs to be cleared—after a loss, a move, or a major downsize—most families are juggling logistics and emotion at the same time. Estate liquidation doesn’t have to feel chaotic. With the right plan, you can protect what matters, price items fairly, and turn a full household into a clean, market-ready space while aiming for strong returns.

What “estate liquidation” really includes (beyond a weekend sale)

Estate liquidation is the process of identifying, valuing, marketing, selling, and removing personal property from a home (or business) to settle an estate, support a move, or simplify a household. In practice, it’s rarely “just pricing dishes.” It often includes:
Common components of a full-service liquidation:
• Sorting and identifying valuables (including collectibles, jewelry, coins, vehicles, and specialty items)
• Staging and merchandising for an in-home private sale
• Advertising and buyer outreach (local + online audiences)
• Online auctions for high-demand categories that sell better with broader exposure
• Compliance-minded handling of specialty assets (like firearms)
• Post-sale cleanout and donation/trash coordination so the property is left in a usable condition
If you’d like to see how Memphis Estate Sales approaches different estate situations—private in-home sales, online auctions, buy-outs, and specialty liquidation—visit the estate liquidation services page or browse projects and FAQs.

The Collierville estate sale checklist: 10 steps that prevent costly mistakes

Step-by-step plan (save this)

1) Secure documents and personal data first

Before anyone starts “cleaning,” gather passports, birth certificates, military records, deeds, titles, insurance policies, and tax documents. Also protect personal data: old checkbooks, canceled checks, medical paperwork, and anything with account numbers.

2) Don’t throw away boxes, binders, or “junk drawers” yet

Value is often hidden in paperwork: receipts that prove authenticity, appraisal documents, coin sleeves, watch boxes, or original manuals for tools and equipment.

3) Decide what the goal is: speed, maximum value, or a blend

Some families need a fast clear-out (closing date, out-of-town heirs). Others want to maximize returns. Clear priorities help determine whether a private in-home sale, online auction strategy, or buy-out is the best fit.

4) Create “keep / sell / donate / trash” zones (and label them)

A simple zone system stops accidental giveaways and keeps families aligned. Use painter’s tape labels on doors or large bins.

5) Inventory high-risk categories early

Items like firearms, precious metals, and high-end collectibles should be identified early so they can be stored safely, documented, and sold through appropriate channels. (If you’re unsure what something is, don’t “test” it—set it aside for evaluation.)

6) Don’t price from sentiment—price from market reality

Families often remember what an item cost new, not what buyers pay today. Professional liquidation teams track demand, condition, and comparable sales to price strategically—often using online auctions for categories that perform better with wider exposure.

7) Stage like a retail experience (clean, grouped, and easy to shop)

Grouping (tools with tools, holiday with holiday) increases basket size. Clear pricing reduces questions and speeds checkout.

8) Use the right sales channel for the right items

A well-run estate liquidation may involve multiple formats: a private in-home sale for household goods, targeted online auctions for collectible categories, and specialty handling for vehicles or metals.

9) Plan for “after the sale” before the first shopper arrives

Cleanout is often where families get stuck. Decide in advance: what gets donated, what must be hauled away, and what needs to be broom-cleaned so the home can be listed, repaired, or transferred.

10) Document what sold and keep clear settlement records

Families appreciate transparent reporting. Good recordkeeping supports estate accounting and reduces conflict between heirs.

Important Tennessee notes: permits, taxes, and specialty items

Permits can vary by jurisdiction. Shelby County notes that certain “going out of business” or liquidation sales outside municipalities may require a permit before the sale begins and before advertising. If your liquidation scenario overlaps with a business closeout or formal liquidation event, it’s wise to confirm local requirements early. (shelbycountytn.gov)
Tennessee inheritance tax: Tennessee’s inheritance tax is no longer imposed for decedents with dates of death in 2016 and after. (Other taxes and estate obligations can still apply, but this specific state tax is repealed.) (tn.gov)
Firearms: Firearms liquidation should be handled carefully and compliantly. Tennessee has different rules for private sales than transfers that go through a licensed dealer, and cross-state transactions have additional requirements. A professional firearms liquidation process helps keep everything documented and properly transferred. (fastbound.com)

Did you know? Quick facts that help Collierville families plan smarter

Did you know: Online auctions can expand your buyer pool beyond the Memphis area, which can be especially helpful for collectibles and niche categories.
Did you know: For precious metals, pricing is not just “weight × spot price.” Premiums, condition, brand, and collector demand can change the real-world sale value—so verification and careful valuation matter. (tn.gov)
Did you know: Some sales events have specific permit or administrative requirements depending on where and how the sale is conducted—confirming early prevents last-minute advertising delays. (shelbycountytn.gov)

Which liquidation option fits your timeline? (Simple comparison)

Option Best for Trade-offs
Private in-home estate sale Full households, easy shopping experience, local buyers Some specialty items may still do better online
Online auctions Collectibles, coins, specialty items, higher-demand categories Requires photography, listings, and pickup logistics
Buy-out Tight deadlines, out-of-town heirs, fast resolution May prioritize speed over top-dollar on every category
Partial estate sale Downsizing/retirement moves where only some items must be sold Requires clear tagging and accounting per client/item group
If you’re weighing options, Memphis Estate Sales offers consulting and can help you choose a plan that fits your home, timeline, and goals. Learn more via projects & FAQs.

Tips that protect value: what to do (and what not to do) before a consultation

A quick “prep list” that helps appraisers and liquidation teams

Do:
• Gather titles, keys, and maintenance records for vehicles, motorcycles, or boats
• Set aside jewelry, coins, and precious metals in a secure place (even a simple locked bin helps)
• Keep sets together (china patterns, tool sets, sterling flatware, collectible series)
• Leave vintage items “as found” if you’re unsure—cleaning can reduce value for certain collectibles

Avoid:
• Donating before identifying valuables (many “donation boxes” accidentally include jewelry and coins)
• Throwing away old packaging, certificates, or receipts for collectibles
• Using harsh cleaners on silver, coins, or antique finishes before getting advice

A local Collierville angle: what families in eastern Shelby County often need

Collierville families often balance busy schedules, multi-generational households, and property deadlines—especially when heirs live out of state. Many homes also include garages and storage areas packed over decades. A full-service approach (staging, advertising, selling, and post-sale cleanout) tends to be the difference between “months of weekends” and a process that feels manageable. If you’re in nearby Germantown or Bartlett, the same planning approach applies—start by identifying specialty categories early and choosing the right mix of private sale and online auctions.

Ready for a discreet, professional estate liquidation plan?

Memphis Estate Sales helps families throughout Collierville and the greater Memphis area with private in-home sales, online auctions, buy-outs, consulting, and specialty liquidation (including vehicles, collectibles, precious metals, and firearms).

FAQ: Collierville estate sales and liquidation

How long does estate liquidation usually take?
It depends on the home size, item volume, and whether specialty categories need separate handling. Many families plan for time to sort keepsakes, then schedule staging, marketing, and the sale/auction window, followed by cleanout.
Should we clean or declutter before calling an estate sale company?
Light tidying is fine, but avoid donating, trashing, or “deep cleaning” collectibles before an evaluation. Sets, paperwork, and original boxes can matter more than people expect.
What sells best at a private in-home sale vs. online auctions?
Household goods and furnishings often do well in person. Coins, collectibles, and specialty categories can benefit from online auctions that reach buyers outside the Memphis area.
Are there special rules for selling firearms from an estate in Tennessee?
Firearm transfers can vary depending on whether the transfer is private, involves a licensed dealer, or crosses state lines. A specialty firearms liquidation service helps ensure secure handling and a compliant sales process. (fastbound.com)
Do we need to worry about Tennessee inheritance tax?
Tennessee inheritance tax is repealed for dates of death in 2016 and after. If you’re handling an older estate, verify the date-of-death rules, and consult your attorney or tax professional for estate-specific guidance. (tn.gov)

Glossary (helpful terms you may hear during liquidation)

Buy-out: A fast option where a liquidation company purchases the contents of an estate (or a defined portion), typically prioritizing speed and simplicity.
Consignment-style pricing: Pricing designed to sell within a sale window while still reflecting market demand; often adjusted as the event progresses.
Fair market value (FMV): The price a willing buyer would pay a willing seller in a normal market, based on condition, demand, and comparable sales.
Online auction lot: A group of items photographed and sold together online (sometimes a single item; sometimes a themed group).
Provenance: Documentation or history that supports an item’s authenticity or origin (common with collectibles, fine jewelry, and certain antiques).
Looking for a next step in Collierville? Start with a conversation and a plan. Contact Memphis Estate Sales here: https://memphisestatesales.biz/contact/

Estate Liquidation in Bartlett, TN: A Practical Checklist for Maximizing Value (Without the Stress)

A clear plan for families downsizing or settling an estate in the Memphis area

When a home needs to be liquidated—after a loss, a move to assisted living, or a major downsize—the hardest part is rarely the selling. It’s the decisions: what matters, what’s valuable, what’s safe to sell, and what should be handled with extra care (like vehicles, firearms, or precious metals). This guide is built for Bartlett families who want a calm, organized way to move from “overwhelmed” to “handled,” while protecting both value and privacy.

What “estate liquidation” actually includes (and what it shouldn’t)

Estate liquidation is the process of converting personal property into cash in an orderly, documented way. In a full-service setup, that typically means: sorting and staging, pricing, marketing, selling (in-home and/or online), secure handling of specialty items, and a post-sale cleanout so the property is ready for the next step (listing, rental, closing, or return to the landlord).

What it shouldn’t include: rushed decisions, “mystery pricing,” unclear accounting, or risky handling of regulated items. If you’re comparing options, look for a process that is transparent, inventory-driven, and built around protecting the family’s time and the estate’s value.

Choosing the right selling method: in-home sale, online auction, or buy-out

Not every estate is a fit for the same format. In Bartlett (and nearby Germantown and Memphis), many estates benefit from a blended strategy—selling “everyday household” items locally while leveraging online reach for collectibles and high-demand categories.
Option Best for Trade-offs What to ask a liquidator
Private in-home estate sale Full homes with broad household inventory; local buyers; faster on-site turnover Foot traffic varies; some categories do better online How do you stage and secure the home? How is pricing determined?
Online estate auction Collectibles, specialty items, rare tools, designer goods; wider bidder pool Requires cataloging and pickup logistics; timeline depends on platform schedules Which platforms do you use? Who photographs and writes descriptions?
Buy-out Tight deadlines; property sale closing soon; families out of state Convenience can reduce upside vs. retail/auction pricing How is the offer calculated? What’s excluded (metals, firearms, vehicles)?
Tip: If an estate has both “standard household” and high-value specialty items, ask for a blended plan rather than forcing everything into a single format.

Step-by-step: A calmer, higher-return liquidation checklist

1) Secure paperwork and “do-not-sell” items first

Before sorting the house, pull aside documents (titles, insurance, appraisals, tax files), sentimental items, and anything with identity risk (old checkbooks, military records, passports). This prevents costly mistakes and reduces anxiety for the family.

2) Don’t “pre-donate” the best value categories

Many families donate first and call for help later. If you want to maximize return, pause before donating: vintage jewelry, coins, tools, collectibles, and quality furniture often perform well when properly identified, photographed, and marketed.

3) Decide how you want the home handled (privacy, security, showings)

Bartlett neighborhoods can be busy, and estate sales naturally draw attention. A professional plan should include controlled entry, safe display of valuables, and clear rules for pickup and payment handling. Ask how the team manages high-traffic times and protects off-limit areas.

4) Use online auctions strategically (not automatically)

Online bidding can lift results on certain items, but it’s not a magic switch. The upside comes from expert cataloging: accurate descriptions, condition notes, and clean photos that reduce buyer hesitation. If you’re offered online auctions, ask who writes listings, how lots are grouped, and what the pickup process looks like.

5) Plan specialty liquidation early: vehicles, precious metals, collectibles, and firearms

Specialty categories should be identified at the beginning, not the end. These items often require extra documentation, secure storage, or regulated transfer steps.

Precious metals note (Tennessee): Tennessee provides a sales and use tax exemption for qualifying sales of coins, currency, and bullion (effective May 27, 2022). That can matter when planning how bullion/coins are sold and documented. (Always confirm specifics for your situation with your tax professional.)

6) Ask about post-sale cleanout and disposal (so the house can move forward)

The sale is only one milestone. A strong liquidation plan includes what happens to leftovers: donation coordination (if you choose), trash removal, and “broom clean” readiness so the home can be listed, repaired, or closed on without delays.

A Bartlett-local angle: timing, logistics, and buyer behavior

Bartlett homeowners often face two practical pressures: (1) coordinating with real estate timelines and (2) coordinating family schedules (especially when relatives travel in from out of town). A reliable liquidation company will help you pick a sale/auction window that fits repairs, inspections, and showings—while also planning for parking, neighborhood considerations, and secure entry.

If you’re near major routes into Memphis or close to Germantown and Bartlett retail corridors, you may see strong local turnout for in-home events. For niche categories (rare collectibles, specialty tools, classic car interest), online exposure or targeted marketing can broaden reach beyond the immediate Memphis metro.

Why families choose a full-service team (and what to expect)

A full-service estate liquidation team should reduce the burden on the family—not create new tasks. At a minimum, you should expect clear communication on:

Process & timeline: when staging begins, sale/auction dates, pickup days, and cleanout scheduling.
Security & discretion: how valuables and regulated items are handled and documented.
Accounting: how proceeds are tracked, what fees apply, and how/when disbursements occur.

For more detail on how estate sales, online auctions, and liquidation services can be structured, you can review estate sales and online Memphis auctions FAQs and project info.

Call-to-action: Get a discreet liquidation plan for your Bartlett estate

If you’re handling an estate near Bartlett, TN and want a straightforward plan (private in-home sale, online auction, buy-out, or a combination), Memphis Estate Sales can help you identify the best path—especially when the estate includes specialty categories like vehicles, collectibles, precious metals, or firearms.

FAQ: Estate liquidation in Bartlett & the Memphis area

How long does an estate liquidation usually take?

A typical timeline includes sorting/staging, marketing, the sale or auction window, pickup, then cleanout. The total time depends on home size, volume, and whether online auctions are used. A consultation should result in a specific schedule you can plan around.

Should we throw away items that “don’t seem valuable” before the team arrives?

It’s fine to remove obvious trash, but avoid discarding tools, vintage kitchenware, costume jewelry, coins, old electronics, or boxes of “miscellaneous.” Value often hides in the details, and grouping items properly can change sale results.

Can an estate sale company handle firearms liquidation?

Yes—when handled responsibly and in compliance with applicable laws. Because rules can vary by item type and situation (and may involve regulated transfer steps), it’s important to use a team that treats firearms as a specialty category and prioritizes secure, compliant handling.

What about gold, silver, coins, and bullion?

Precious metals should be evaluated early, stored securely, and sold with clear documentation. Tennessee has a sales and use tax exemption for qualifying sales of coins, currency, and bullion (effective May 27, 2022), which can be relevant when you’re planning how these items are sold and recorded.

Is an online auction better than an in-home sale?

“Better” depends on what you’re selling and your timeline. Many estates do best with a hybrid approach: in-home selling for general household goods, and online auctions for categories that benefit from wider bidding competition.

Glossary (quick definitions)

Buy-out:

A fast option where a company purchases the estate’s contents (or a defined portion) for a single price, rather than selling item-by-item to the public.
Online auction cataloging:

The process of photographing, describing, and grouping items into bidding “lots,” including condition notes and pickup details.
Post-sale cleanout:

Removal of remaining items after the sale/auction, plus basic cleanup so the property can move to the next step (listing, repairs, closing, or landlord turnover).
Bullion:

Precious metals (often gold or silver) valued primarily by metal content and weight rather than decorative or “retail jewelry” value.