Featured Image Caption: Jewelry Appraisal for Insurance

A jewelry appraisal is necessary if you have a valuable piece of jewelry, which you should get as soon as you purchase jewelry. It is critical to use a gemologist to appraise your precious gem or antique piece since he will better understand the stones. Appraisers are well-trained to work on different gemstones.

What is a jewelry appraisal?

It is a document issued by a certified jewelry appraiser, showing a detailed valuation of a piece of jewelry and its final value.

Why you will need jewelry appraised

Before we look at why you need your jewelry appraised, you need to know what type of jewelry you have. Is the jewelry antique or vintage, which requires a specific appraiser who understands these particular gems? If your pieces have precious gemstones, you will need a gemologist who is knowledgeable about the 4Cs.

Precious gems and metals are a good investment, but you need to know their value, the same way you can tell the value of your house. Any valuable asset needs insurance, and before an insurance company covers your jewelry, they will ask for a jewelry appraisal from a professional jeweler. They may require some specific details that you will request your appraiser to follow. When someone is getting an assessment, for this reason, the price of the jewelry should reflect the real cost of replacing the piece if it is lost or stolen.

You will also find the appraisal useful when you want to sell your jewelry for whatever reason. Working with an experienced appraiser should get you a fair market value. There are also other cases where an immediate liquidation is crucial for an estate or divorce settlement. Due to this urgency, a valuation could be on the lower end.

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How to find a jeweler appraiser expert

Go for the reputable stores; In most of these retail shops, you will find experienced jewelers who have many years of selling and appraising jewelry. And if they sell valuable pieces, there is a high chance they offer appraisals for their clients. Ask them if they have a gemologist on-site or you have to book an appointment to see one. It is best you deal with the appraiser himself, rather than leaving your piece in the store.

A trustworthy appraiser

First of all, it’s crucial to get a quote of what you are likely to pay for the jewelry appraisal. When you understand that outline and what affects the price, that is a good sign that you can trust a jeweler. He should also have his certificate and qualifications hanging on the wall.

How much will a jewelry appraiser cost you?

Many factors will contribute to the price of a jewelry appraisal. But on average, most jewelers charge an hourly fee from $ 50 to $ 100.

How intricate is your piece of jewelry? Most antique jewelry can be quite detailed, and the price charged for such will be higher than for those that are simple and less complicated.

Time spent: A jeweler will take more time to complete intricate jewelry pieces, which will attract a higher price.

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Having several pieces that need appraisal; will take time, and you might need to leave them with an appraiser. However, you should get a written document showing a rough estimate of your jewelry’s value leaving behind and agree on the amount you might get compensated in case of damage or loss.

Jeweler’s experience and qualification: The more qualified an appraisal is, the more likely it is to be pricey. However, it’s always better to use an expert who understands your precious gems and not compromise the price.

Rare piece; If you are getting an heirloom for an appraiser that probably has unique provenance, a jeweler might need extensive research on it to get the appropriate value. It might take time to do this. The price of this will have a significant impact on ordinary pieces.

The gem’s size; The more extensive the stone, the pricier it is likely to be because it is time-consuming. An appraiser can also get a higher liability if he fails to give an accurate evaluation.

What to ask your appraiser

What is the level of your professional affiliations?

Always use an appraiser who is certified from the following groups:

  • Accredited gemologists Association (AGA)
  • American Gem Society (AGM)
  • International Society of Appraisers
  • American Society of Appraisers
  • National Association of Jewelry Appraiser
  • Association of Independent Jewelry Valuers
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Do you understand the legal obligations as an appraiser?

Do you have a lab here, or do I have to wait?

One drawback you will find when hiring a local retail jeweler is that they don’t have their gem lab or complete toolkit to provide an accurate appraisal.

Red flags to watch out for when vetting an appraiser.

There’s a lot that you might not understand about the appraiser charges, but you need to walk away if a jeweler:

  • He charges your jewelry appraisal based on the value of your piece.
  • He gives unclear fees without understanding what you will be paying for.
  • He tries to buy the jewelry he is appraising; he will probably give you a lower price. That is unethical, and you should look for a different appraiser.

When you work with a reputable jeweler or professional, you cannot face anything like this.

In conclusion, when you buy a car, you immediately get an insurance cover for it. That is the same thing you should do when you purchase a valuable piece of jewelry or your inherited heirloom. Please obtain a jewelry appraisal to be safe than sorry.

Naman Modi

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

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