Whether you’re a fine jewelry collector or have inherited a few precious gems, finding the accurate value of your pieces can be affirming. Having details about these jewelry pieces can help you get the proper insurance amount and better understand your jeweler's value. You can also find cool information about your gems and know why they’re valuable and unique. However, here are three key things to know before getting your jewelry appraised.
How a Jewelry Appraisal Works
We hear so much about appraisals, but how do they work? Jewelry appraisals involve a qualified professional examining your valuable jewelry pieces to evaluate their quality and condition. This way, you have an accurate value if you’re thinking about insuring or reselling your pieces.
Here are that factors that go into the examination:
- Characteristics of the gem
- Design details
- Measurements of the piece
- Setting particulars
- The overall quality of the piece
Know the Different Types of Appraisals
Another thing you should know before getting your jewelry appraised is that there are different appraisals. Each type will give you the details and information you need for your specific purpose.
- Fair market value appraisal: This gives you a value estimate if you sell your items.
- Liquidation appraisal: This is for when you need to do an immediate resale.
- Retail replacement value appraisal: This determines how much it would cost to replace your jewelry if lost or stolen.
What Your Appraisal Report Should Include
When you get an appraisal report, you should receive the answers to all your questions. The report should be detailed and full of information about your gem and overall jewelry piece. This way, you can set the best price point if you resell your items. Getting a report is also great for insurance purposes.
Your appraisal report should include the following information:
- Date of the appraisal report
- Your name and contact details
- The jewelry’s value
- The type of setting
- An explanation from the appraiser
- A photograph of your jewelry
- Notes on your gemstone and description of your item
At Windy City Diamonds, we’re passionate about jewels and ensuring our customers get the finest gems possible. We believe in the finer things in life, and we want you to enjoy them! We offer jewelry appraisal services so that you can wear your pieces confidently. While we only provide appraisals for jewelry purchased in our store at the moment, we’re always open to referring you to certified service providers. Contact us with any questions. We’ll gladly answer them.