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How To Get Your Jewelry Appraised

February 15th, 2024

What Is A Jewelry Appraisal?

Have you heard of a jewelry appraisal but aren’t sure exactly what that is?  You’re not alone, so we’re here to explain the details. A jewelry appraisal is a professional evaluation of the value of a piece of jewelry conducted by a qualified and experienced appraiser. The purpose of a jewelry appraisal is to determine the fair market value of the jewelry item, usually for insurance purposes, estate planning, or resale.

During a jewelry appraisal, the appraiser examines various aspects of the piece, including:

  1. Gemstones: The type, quality, and characteristics of any gemstones present in the jewelry.
  2. Metals: The type and purity of the metal used in the piece, such as gold, silver, platinum, etc. All metal is evaluated and tested to determine the metal type in your jewelry.
  3. Craftsmanship: The overall quality of the craftsmanship, including the design, setting, and intricate details.
  4. Condition: The condition of the jewelry, including any wear and tear, damage, or repairs.
  5. Brand or Designer: If the piece is from a renowned brand or designer, it can affect its value.

Any paperwork (i.e. diamond reports, warranty cards, old appraisals, etc.) is very helpful and should be brought along with the jewelry or timepiece. Once the evaluation is complete, the appraiser provides a detailed document called an appraisal report. This report includes a description of the jewelry, photographs, and the appraised value. The appraised value is an estimate of the replacement cost, which is the amount it would cost to replace the item with a similar one in the current market.

Why Should You Get Your Jewelry Appraised?

Having an updated jewelry appraisal is essential for insurance coverage, as it helps determine the appropriate coverage for the item in case of loss, theft, or damage. Appraisals should be updated any time you change insurance policies, or as the gold or gemstone market fluctuates.

Appraisals At James & Sons

You can bring any jewelry or timepiece to James & Sons for a free evaluation during our monthly appraisal events where we will be happy to have a look at your jewelry item. Should you choose to have an official appraisal written up it can be done on the spot and the price is $85 for the first item and $65 for each additional item. If you are unable to attend the scheduled event, you may drop off your jewelry or timepieces at any of our locations, where it will be documented. Our trained appraisers will evaluate and return your jewelry within an agreed-upon timeframe. If you have any questions don’t hesitate to ask during our appraisal process.