10 Valuable Things You Need To Know About Jewelry Appraisal

Maybe you could be procrastinating to get insurance for your valuable heirloom because you have the notion of a jewelry appraisal for insurance is a complicated thing. At first, it may seem daunting and a little overwhelming, especially being a new territory. But once you learn some crucial ways of navigating the appraisal, it will be effortless and the most straightforward process.

So, we’ve curated what you need to know about getting your jewelry appraised.

Why Jewelry appraisal? When you buy a diamond worth above $ 5000, a jeweler, you may suggest you get it appraised to insure it. A jewelry appraisal is an evaluation document prepared by an experienced jeweler, stating the dollar value of your piece bought. Other details include the material used, gem’s color, carat, weight, etc.

10 Valuable Things You Need To Know About Jewelry Appraisal

  1. There are different types of appraisals.

Replacement value; appraisals for insurance purposes are the most popular. After the evaluation, the value you get is the retail replacement value you will receive when you lose your jewelry.

Fair market value; this takes into account the current condition of your jewelry and gives you an estimate of what you are likely to get if you sell your jewelry. The amount is usually lower than the replacement value.

Liquidation; you get a liquidation appraisal when you want to settle your divorce or liquidate your estate. The value is usually pretty low as it reflects the immediate need to sell the property.

  1. Where can you get your jewelry appraised? 

Before choosing the best place for your jewelry appraisal, it’s crucial to consider the years of experience and the company’s reputation. Also, check if they are a member of the Gemological Institute of America (GIA). Doing this will assure you that you’ll get an accurate market value of your jewelry.

And thanks to technology, a vast majority of jewelry companies are offering online appraisal for your jewelry, and it becomes a painless process. You can research the internet about the qualifications and review of potential jewelers to evaluate your item before settling. Several people have acquired an appraisal from the stores, while others have successfully done it through a secure mail-in option.

  1. Jewelry appraisal for insurance

Since your fine jewelry is a valuable assethaving it insured gives you the peace of mind. You will get compensated a full replacement value if something unexpected happens. Insurance providers may require a recent jewelry appraisal for insurance provided by a reputable jeweler. That may include a photo of your piece, details, and descriptions about your item, including your antique jewelry’s current market replacement value.

  1. Suitable jewelry for appraisal

Ideally, any valuable piece of jewelry, including gems and heirlooms that you can’t afford to lose, needs insurance. So, you will first need to know their value through jewelry appraisal. These may include but not limited to;

  • Gemstones
  • Diamond rings and necklaces
  • Fine jewelry
  • Unique gold pieces
  • Engagement rings
  • Wedding rings
  • Loose diamonds and gemstone
  • Gold jewelry
  • Silver jewelry
  • Gold earrings
  1. Have an open conversation with the appraiser

If an appraisal is your first time, then it’s apparent there is so much you need to know. Ask the appraiser as many questions as possible until you get satisfied. If you are dealing with a professional, he shouldn’t get bothered by your questions but should listen attentively and answer using simple English for your understanding.

  1. What to expect from an appraiser?

Your appraiser should be someone knowledgeable and experienced to provide a credible jewelry evaluation. If your jewelry has a precious gemstone, the appraiser should describe the item stating an estimated stone weight, color, and diamond clarity. (usually given as a range-for instance, H-J as color grade, SI1/SI2 clarity grade etc.) The material used for the jewelry and any other necessary detail.

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He should have gemological training and have completed appraisal training from a recognized association such as the American Society of Appraisals (ASA).

  1. The appraisal report should include the following;

  • Name and client’s contact info.
  • Appraisal date
  • Purpose of the appraisal
  • Description of your jewelry
  • Type of setting
  • Appraiser notes including his name
  • Jewelry’s photos
  • Jewelry’s value
  1. Understand the grading process and measurement applied

Diamond grading is an evaluation of the stone attributes such as carats, color, clarity, and cut by a renowned gemologist in a gem lab certified by professionals. The major ones include; GIA and IGI. It’s the most transparent report that determines the stone’s value, and it shows the estimated value of the diamond in the market.

  1. Cost of appraisal

jewelry appraisal may cost from $50 to $150, depending on the jewelry’s intricacy, the number of jewelry getting appraised, and the appraiser. But in general, the average price is usually $75-$100. Some of the appraisers charge a flat rate per piece, while others may charge hourly.

  1. Differentiate between a jewelry appraisal with grading (lab report)

The most renowned international laboratories like the Gemological Institute of America (GIA) and the International Gemological Institute (IGI) determine your diamond or other gemstones’ grade through the cut, color, clarity, and size. Other attributes include the brand’s name and market value, which gives you a certified lab report. It contains detailed information about metal, gemstones, and diamonds. It may also mention the estimate of your jewelry resale price.

You can get a jewelry appraisal from an experienced local jeweler, who will evaluate your item and provide its current value. Its essence is to give this for insurance replacement value, for estate or tax plan. However, it’s unnecessary to understand the quality, specifications, and other attributes inherent to your item.

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In conclusion, whether you plan to sell your fine jewelry and watches to generate some extra cash, you have to get them appraised first. And if you intend to get insurance for your diamonds, antiques, and wedding jewelry, you will need a jewelry appraisal for insurance. Now, you’re on the knowledge of what to expect when appraising your jewelry.

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Naman Modi is a Professional Blogger, SEO Expert & Guest blogger at,
He is an Award-Winning Freelancer & Web Entrepreneur helping new entrepreneur’s launches their first successful online business.

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