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Jewelry Appraisal- Appraise! Appraise, and Re-Appraise!

Jewelry Appraisal – Appraise! Appraise! and Re-Appraise!

Have your jewelry appraised! Theft is on the rise and if your jewelry hasn’t been recently appraised, it needs to be! Diamonds, gold and platinum have made huge gains over the last couple of years and if you haven’t had your jewelry updated with your insurance, you could be potentially loosing more than  your jewelry if stolen!

jewelry appraisal

Have You Appraised Your Jewelry Lately?

Diamonds have increased in value almost 50% while platinum and silver have seen historical jumps in value as well.  Once you have had your appraisal, you need to call your insurance agent right way to update and validate the new value of your precious jewelry.  For example, if you paid $5,000 for a diamond necklace more than 5 years ago, it could cost you $10-$15,000 today if you had to replace it!  Of course non of us want to think about our homes being broken into, but it is a common occurrence and we can never be too careful.

Where can you find a reputable appraiser that you can trust?  One suggestion is to go through either THE NATIONAL ASSOCIATION OF JEWELRY APPRAISERS or THE AMERICAN SOCIETY OF APPRAISERS. These professionals are considered ethical and are required to be continuously educated.  Or you can go to your Boca Raton, FL own Raymond Lee Jewelers to meet with their own in-house expert and can help guide you to ensure protection and appraisal accuracy.

 

jewelry appraisal 

Also, please remember to contact your insurance agent to be aware of your insurance policies and making updates to policy to be ensure you are most protected.

By Raymond Lee Jewelers. For information regarding jewelry appraisal!

What is a Jewelry Appraisal?

Jewelry Appraisal

Jewelry Appraisal

A jewelry appraisal involves a complex examination of a piece of jewelry or watch in which everything about the piece is considered.  After the examination the professional appraiser will give the piece an estimated replacement value.  A written jewelry appraisal from a qualified appraiser can be used for insurance companies in the unfortunate case of loss or theft.

First the appraiser will sit down with you and evaluate your piece.  He may weight it if it is gold, measure stones, measure the size, and examine scratches.  Every evaluation the appraiser deems necessary will be considered.  Once all the measurements are calculated and the value is determined you will receive a written jewelry appraisal that you should use for the insurance company.

You may have heard jewelry stores advertise for a jewelry appraisal.  But why do you need a jewelry appraisal?  You know what you bought your piece for.  You know how much it’s worth.  Wrong, this is a common misconception.  If you are buying your jewelry brand new from a retail store chances are you are paying close to full retail.  Many times the estimated replacement value that you get from a jewelry appraisal will be significantly less.  In case of loss or theft, insurance companies want documentation of the true value of a piece.  Any time you have proper papers describing your piece it will be worth the maximum.

Before your choose a place to have your jewelry appraisal done you should consider a few things.  First, is the appraiser qualified?  The appraiser should be a graduate gemologist who has knowledge about all precious and semi precious stones.  Second, you need to make sure the appraiser is experienced.  The more experienced they are in the jewelry business the better knowledge they have of the market.  Finally, a jewelry appraisal should never cost a percentage of the final value of the piece.  True appraisers will either charge on an hourly basis or a standard piece by piece rate.

Getting a written jewelry appraisal for your expensive jewelry is a great idea.  Insurance companies will accept them as a valuation for your jewelry in case of loss.  Protect your investments with a jewelry appraisal.

by, Seth at Raymond Lee Jewelers

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