Insurance policies are recognizing assets such as fine jewelry, art, wine, antiques and classic cars as an asset class in their own right, so a professional jewelry appraisal becomes necessary to protect your most valuable antique jewelry pieces and collections and value them for a fair and accurate price.
A jewelry appraisal involves two primary steps and can be performed by your trusted antique jewelry online store. The first step is aimed at identifying the main characteristics of the antique jewelry item and the second looks to assign its right market value, in case the piece is put to sale later on or is part of a trade-in or trade-up. Here are some of the most frequent customer questions regarding jewelry appraisals.
Is insurance the only reason why I should arrange a jewelry appraisal?
Insurance is a big reason, but is not the only one. Jewelry can also be a good investment and the value of your jewelry and gemstones can fluctuate greatly over the years, so if the piece or collection wants to be sold, you should know the real value people are willing to pay for them. Also, an outdated appraisal may be obsolete and as a result, your jewelry could be insured for less than its replacement value. That means you risk a substantial financial loss if your jewelry is lost, stolen or damaged.
When does a jewelry appraisal become obsolete?
Jewelry market prices can vary in a short time, so industry standard recommendations suggest appraising your jewelry every 2 years. This way, you can keep up with market fluctuations and other eventualities that might affect your jewelry value.
How do I choose a professional for my jewelry appraisal?
A professional jewelry appraiser will have a high level of education backed with the experience, proper qualifications and product knowledge to perform a fair appraisal. Look for appraisal services and references in the store you are buying from and try to determine if their staff is educated on the subject. You want to look for jewelry stores with GIA professional appraisers and with a long-standing expertise appraising antique, estate and vintage jewelry and watches. Also, look for appraisers that have experience with insurance companies.
What does the appraiser look for in my jewelry when appraising it?
The appraiser considers the quality, size, rarity and marketability of your pieces to give you a fair market price. Also, the pieces may require some particular handling which is the case of antique diamond earrings, antique engagement rings, vintage watches, antique diamond bracelets and necklaces.
Should I appraise all my jewelry?
You should appraise whatever represents the more value for you, both financially and emotionally. Among the pieces that people appraise the most are engagement rings, family heirlooms, large collections and rare pieces.
If you have any questions regarding your jewelry appraisal, please contact our customer service staff at: 305-933-5777, Toll Free at: 1-(877)-777-6111. You can also send us an e-mail at: [email protected] and set up a date. We will gladly help you with your jewelry appraisal.