Most probably you have already heard the term “jewellery appraisal”. Are you sure what it means? Read on and you will know on which circumstances you need appraising, what it is used for and who can do it for you.
What is Jewellery Appraisal?
An appraisal is a document that states how much a particular piece of jewellery is worth.
While this process, the appraiser will look at the condition of the piece, its gemstones and their quality characteristics, the metal and the settings. And these are just some criteria used in the appraisal.
After a close examination of your jewellery piece, the appraiser estimates how much it is worth and put this value in writing with a detailed description of how the appraisal was done.
What are Jewellery Appraisals Used For?
Appraisals are done to verify the value of a certain piece of jewellery.
The most common reason for appraisals is for insurance purposes. To decide the insurance value of your jewellery, the insurer will require you to present proof of how much the item is worth.
In case your jewellery is stolen, the detailed description in the appraisal will help to collect insurance and identify your piece if it’s found.
In general, there are various occasions when you may need written proof for the value of your jewellery and the appraisal will come handy.
Should You Get Your Jewellery Appraised?
A jewellery appraisal is always a good idea since it can be of great help. This is especially true if your jewellery piece is expensive.
In case if your jewellery is very cheap, it might not be worth to pay for an appraisal. But if you have a diamond that costs hundreds of thousands, you should get it appraised, especially if you want to insure it.
Keep in mind that the store from which you buy your jewellery may appraise it for free. So all you have to do is to ask.
Who Can Appraise Your Jewellery?
Jewellery appraisers are people who have undergone training in gemology and valuation.
Usually, insurance companies require that your item be appraised by an independent professional appraiser.
When looking for someone to appraise your jewellery piece, you should check what training they have and whether they have been certified by an authority such as the American Society of Appraisers. Besides, always pay close attention to the reputation of the person you are going to trust with your jewellery.