Appraisal Services
Discover the value and story of your jewelry
With decades of experience in jewelry sales, gemology, and design, our family is more than qualified to deliver the appraisal you need for your jewelry pieces. But if the concept of appraisal is new to you, take a look at these resources—originally produced by Jewelers of America, a leading authority in the jewelry industry.
What is jewelry appraisal?
It’s a document that describes an item, assesses its relative quality and assigns a value to it. Descriptions usually cover the visible, measurable and analyzable facts about the item (weight, materials, markings). Most jewelry appraisals also describe subjective features such as gemstone quality, relative rarity and overall quality of manufacture. Jewelry appraisals should not be confused with diamond or gemstone grading reports.
So who can complete my appraisal?
Most experienced retail jewelers with basic formal appraisal training are qualified to write insurance replacement appraisals on the new merchandise they sell in their stores. They may also be qualified to write insurance appraisals on new jewelry they do not sell, if the jewelry is similar to the products in their store. Appraisals done on other types of jewelry or for other purposes require more advanced appraisal training.
OK. But why is an appraisal important?
The majority of appraisals done today are for insurance replacement (retail replacement) purposes. The point of insurance is to return the value of the item. Therefore, insurance appraisals should reflect the realistic cost of replacing an item in a jewelry store that regularly sells the type of item being appraised.
Fair Market Value Appraisal
Fair market value appraisals reflect an actual selling price between a willing buyer and seller, when neither is compelled by time or need to buy or sell in the item’s most common market. Fair market value must represent the item’s value in its current (used) condition. Fair market value is generally required for charitable donations and estate appraisals. Fair market values may run lower than retail replacement values, because replacement values often reflect the cost to replace a used item with a new equivalent.
Immediate Liquidation Value Appraisals
This type of appraisal usually reflects low values because of the situations that create their need. Divorce settlements and some types of estate liquidations may require this type of appraisal, depending upon the jurisdiction where the scenario takes place. Less common types of appraisals include probate and loan collateral appraisals.
Look for these qualifications in a trustworthy jewelry appraiser:
Knowledge of Jewelry Manufacture:
A qualified jewelry appraiser must understand manufacturing techniques and recognize their contributions to the value of an item.
Continuing Education:
Continuing education certificates and credentials help ensure that the appraiser is knowledgeable about the latest gemological and appraisal issues.
Jewelry and Appraisal Experience:
A broad range of jewelry experience over many years often leads to a more knowledgeable appraiser. Likewise, solid experience in the appraisal industry is equally important.
Gemological Credentials:
With no federal or state requirements for appraisers, it is crucial to ask for credentials. A Graduate Gemologist diploma (G.G.) from the GIA or its equivalent should be considered minimum gemological training.
We have a Graduate Gemologist on our staff to ensure your appraisal is both thorough and trustworthy. Set up a time to bring in your piece of jewelry and we’ll give you the information you need.