Benefits of Jewelry Appraisal

It is always a good idea to have your jewelry appraised especially if it’s an expensive piece and the sooner you do it the better. This is however different if the jewelry came with its own appraisal. Jewelry appraisal is an unbiased professional assessment of your jewelry’s value. The appraiser will come up with a specific figure depending on the condition, material used, the setting, gemstones if any and their characteristics. Benefits of having an appraisal are numerous, they include;

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Insurance

If you have a high value jewelry, you definitely need to take an insurance policy for it. This will protect you in case it gets lost or stolen. Your insurance company will need an appraisal from a reliable appraiser so as to get its value and premiums. The insurance company will also require you to have an updated appraisal from time to time depending on their policy.

Detailed information

When an appraisal is done, a detailed description of the jewelry is usually done. You will be given the written document that contains all the intricate information pertaining to your piece. The appraisal will also describe how the process of valuation was arrived at. This will come in handy in identifying your piece should it get lost and found.

Knowledge is power

You don’t need to have your jewelry appraised only when selling it. It can be done just so you have knowledge on what exactly you have. This information is important for you and you will better understand its value, origin and unique characteristics.

Better deal

A genuine appraisal is important when you decide to sell your piece of jewelry that you probably don’t wear anymore. You will need to have an unbiased valuation in order to get the correct and current value for your piece. With this information, you are in a position to cut the best deal since you know the value of your jewelry. The valuation of pieces with rare stones or gems like diamond will be higher than the common ones. 

Peace of mind

After purchasing that shiny ring with a huge stone on it, it is normal to want a second opinion on its quality and market price. You will be at peace knowing you were not duped and its value is close to what you paid for it.

Updated assessment

Over time, your jewelry with prolonged use may suffer some form of damage. The stones and clasps may become loose without your knowledge. By getting them appraised, such damages will be brought to your attention hence mitigating further damages and appropriate repairs done. An updated assessment will also provide you with an estimation of the current market valuation of your jewelry. This should be done every five years to keep up with the roller-coaster value on different gemstones, gold and diamond. 

Now that you are aware of the importance of having your jewelry appraised, you can have it done but with by a jeweler that you trust. They should have the necessary credentials and certified by a recognized authority. You can also your jewelry appraised at the store that you bought it from. Be sure to ask if they offer such services and if not then you can have it done elsewhere. Bottom line is, having your jewelry appraised is recommended and you will be glad you did it.