All you Need to Know About Jewelry Appraisals

Watch Wrist Band Gold Jewellery  - PDPics / Pixabay

Today we want to share some valuable information about jewelry appraisals with you.  If you’ve decided to make an expensive jewelry purchase, you’ve probably heard a lot about jewelry appraisals, but if you’ve never had an item appraised before, it can be a new experience. For expensive gold chains or pendants, having a professional examine the item can verify the value and help you to have a better understanding of the item you purchased.

Many people choose to make purchases online now and, when buying a major item like jewelry, you want to ensure that you’re getting the real deal and not a cheap counterfeit. Do some research on the company you plan to buy from by reading reviews and asking friends for recommendations, and then consider getting an appraisal once you’ve made the purchase.

What Is a Jewelry Appraisal?

A jewelry appraisal is basically just a verification of your jewelry’s condition and worth. This process needs to be conducted by a certified jewelry appraiser who can carefully examine all aspects of your piece and determine its value based on a variety of factors. Once the appraiser has taken a close look at your jewelry, he or she will present you with an official document stating the exact worth of the piece.

Some of the factors that are considered during jewelry appraisals include the type of metal used, the type, rarity and grade of gemstones, and the manufacturing quality, among other factors. For people who have purchased used jewelry, these appraisals are especially important to get a sense for how much the piece may have depreciated from its original value or if there are any major areas of concern about the piece—for example, tarnished metal or chipped gems.

Who Should Appraise Your Jewelry?

jewelry appraisalsThe only person who can appraise your jewelry is a professional appraiser. These experts typically have studied gemology and jewelry valuation and undergo training to identify both measurable details and subjective components that can alter the value of a gold chain.

When seeking out a jewelry appraiser, it’s important to verify that this person is accredited to value these products by a reputable organization. As the owner of the jewelry seeking the appraisal, you are well within your rights to ask for any additional credentials, as well, before beginning the process.

Nearly every jewelry retailer has an onsite appraiser, but you can also find appraisers through certified organizations like the American Society of Appraisers. This is a smart way to find someone to examine your jewelry because you’re aware of their certifications and know that they have a connection with a respected group. If you know anyone in your life who has had jewelry appraised before, it’s also a good idea to ask for recommendations.

Why Should You Do It?

jewelry appraisalsThere are several reasons why one might want to have jewelry like gold chains or pendants appraised. The most common reason is for insurance purposes. Major jewelry purchases are typically very expensive, and very desirable to others, so taking out insurance on these big-ticket items is crucial. Having your gold chains insured guarantees that you can replace these items should they be lost, stolen, or damaged. Many people also seek out jewelry insurance as a way to guarantee that the item can be protected and passed down as a family heirloom.

Another reason for getting your jewelry appraised is to verify the quality and value, particularly for antique or second-hand pieces. Of course, purchasing from a reputable company can ensure your piece’s value, but sometimes the price that you pay isn’t always the item’s exact value. Appraisals will give you insight into which aspects of your jewelry are the most valuable and which ones might be bringing down its worth.

Getting Your Jewelry Insured

The number-one reason people purchase jewelry insurance is in case of theft. Should someone break into your home, jewelry and other expensive items are usually the first things robbers are going to look for. Keeping your pieces safely locked up can potentially prevent this, but there are plenty of ways to get into a locked safe or simply carry the safe out with them. When your pieces are insured, you’re guaranteed to receive that money back. Sometimes jewelry is covered under other existing insurance policies, like homeowner’s insurance, but this usually only covers up to a specific value, which could count toward a number of your belongings.

jewelry appraisalsWith jewelry insurance, your pieces are specifically listed as being covered in your policy. Typically, this type of insurance charges around $1 for every $100 of value. For example, if you have a $1,000 piece of jewelry, the insurance will likely be around $100 per year. Before buying the policy, be sure to ask your agent specific questions about what is covered (lost, stolen, and damages?) and make sure that this is listed in the agreement. Before you can receive jewelry insurance, you’ll need the appraisal document to verify the piece’s value, along with a receipt, photos, and any certificates that may have come with the jewelry.

What Can You Learn About Your Jewelry?

Getting your gold chains and other expensive jewelry appraised is a smart idea for a number of reasons, but it will also give you some further insight into why your item is valuable and the rarity of the gems. When an appraiser examines the piece, he or she can identify the percentage of gold or other precious metals, as well as the rarity and quality of the gemstones (based on inclusions, which are imperfections in the stone, color, and cloudiness).

Protect Your Valuables

When we make expensive purchases of jewelry like gold chains and bracelets, we want to make sure that these items are going to last a long time. Unfortunately, because of their value, these items may get stolen, making it even more important to insure them. Consult a reputable, certified jewelry appraisal to learn more about your piece’s worth and begin the process of acquiring insurance to guarantee that you’ll have your favorite gold chain for years to come.

Read more jewelry articles at Cliché
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