It’s important to protect your valuables from damage or loss, and having your jewelry appraised is a great way to start doing that for those important pieces of jewelry in your life. In this article we’re going to walk you through everything you need to know about jewelry appraisal.
What is a Jewelry appraisal?
A jewelry appraisal is a document you receive featuring a detailed analysis of your piece of jewelry. The document will include an evaluation of the pieces current value and what you should pay to have it insured. Through professional examination the appraiser values your jewelry based on factors like what precious metals are used, the quality of the gems, the quality of build, and more. You should always have your appraisals be done by a certified professional from a local jewelry store you trust.
Why Appraise your Jewelry?
There are many different reasons you should have your jewelry appraised. Appraising your jewelry is the first step you’d take if you’ve been thinking about purchasing insurance on your items, reselling your piece independently, or for the simple reason of knowing exactly what you have and what it is worth. Just like how you purchase insurance on your brand new car, insuring your jewelry is the responsible way to protect your valuables. If your jewelry ever happens to get lost or stolen you’ll be glad it was professionally appraised and insured.
Who should appraise it?
When it comes to choosing who is going to appraise your jewelry, your best option will always be to have it appraised by a GIA Graduate Gemologist. A certified GIA Gemologist has spent years of studying and training to achieve the highest levels of expertise in the science of gemology at the international Gemology Institute of America. A jewelry appraisal should be as accurate and objective as possible, and that is best achievable through a GIA Gemologist.
How Much should it cost?
Multiple factors are in play when finding the price to having your jewelry appraised, but generally you should be prepared to spend anywhere between $65-$200 for an appraisal. The complexity of your piece is the biggest factor in determining the price of the process. For example, a simple gold band will be significantly easier to appraise than a Super Bowl Championship ring.
How does the process work?
The process of jewelry appraisal should be seamless. You should be able to contact your local jeweler/appraiser to schedule an appointment. Some stores require you to leave you item with them for a specific period of time, other jewelry stores like Chrysella offer while you wait jewelry appraisal services.
Here’s a basic breakdown of some steps every jewelry appraisal will consist of:
1) An examination of the precious metals incorporated in your jewelry. This includes metals like silver, gold, platinum and palladium. Finger size, age of the piece, etc.
2) A detailed inspection of the diamonds and gemstones on your piece. Here your appraiser will measure things like carat weight, color, quality of cut, and more.
3) A color photo of your piece will then be taken, and your written appraisal should be offered.
Ask your appraiser about the specifics of their process and decide on your own what best works for you. Check out this link to see what Chrysella offers for jewelry appraisals.
Should you leave your item?
Here at Chrysella, we are more than happy to do your appraisal right in front of you. Other jewelry stores also offer while you wait appraisals but many jewelers will require you to leave the item with them for a specific period of time.
But keep in mind that similar to the cost of an appraisal, it depends on the complexity of the piece. Some appraisals will need more time to accurately assess the value of your piece. Talk to your jeweler and find out what they feel is necessary, and never feel the need to go through with something you feel uncomfortable with.
After the appraisal, what happens…
After the process is over and you’ve picked up your jewelry along with your written appraisal, what happens next is up to you! Your appraisal is a great frame of reference for the value of your jewelry if you are looking to sell. Or like we mentioned earlier, most people’s next step is contacting an insurance company and getting a claim on their piece. Once you get your appraisal you should be able to talk to your insurance company and move forward with getting you piece insured.
How does it work with the insurance?
Getting your jewelry insured is an easy process. Contact your insurance company and ask for a quote to have your piece insured. We recommend you ask your jeweler if they are partnered with Briteco, as they make the process even easier. Briteco partners with local jewelers all over the country to bring you the easiest process and best rates in jewelry insurance. Here are 3 reasons why you should consider insuring your jewelry with Briteco
- Their extent of coverage. They cover more than most, and offer more than anywhere else.
- Online claim filing. Receive your claim as soon as possible through a simple online filing process.
- A Chrysella partner. Briteco works with jewelers like Chrysella, offering you that personal level of customer service you just can’t get with large corporations.
A jewelry appraisal is at it’s core a way for you to know the true value of your jewelry, and the necessary first step towards insuring your piece. Timeline and pricing vary depending on what piece you seek to have appraised, but communicating with your appraiser will keep in informed and prepared for the process. After that, receiving a claim on your piece and insuring your jewelry is easier than ever!
Appraising your jewelry is a simple, but valuable housekeeping action you could take to protect your beloved jewelry. Book an appointment today with Chrysella to have a GIA Graduate Gemologist appraise your jewelry today!