If you own any type of fine jewelry that features a set gemstone and is manufactured from gold, silver or platinum, getting your jewelry appraised on a regular basis is a great idea. In fact, it’s important to be aware of the actual value of your jewelry in times of economic crisis, so jewelry appraisals every five years are recommended.
What does an appraisal actually do for you? Simply put, it determines the current market value for your jewelry. Now, it’s important to understand that what you paid for jewelry a few years ago may not be what it’s actually worth today. Designer trends change often as do the price of precious metals and semi-precious stones. However, in case your jewelry is lost or stolen, knowing the value of your jewelry can make the insurance claims process significantly easier and give you a peace of mind.
Over the years, your jewelry will require maintenance, but many jewelry owners aren’t aware of potential condition issues without the help of an expert eye. A well trained professional can help spot missing or loose stones, weakened prongs or discoloration on the metal. Spotting problems early on can mean a more affordable repair job and you will ultimately help preserve the value of your jewelry for the long-term.
Now that you understand the numerous benefits of having an expert appraise your jewelry, it’s important that you’re getting it properly documented by a professional and not a novice claiming to understand jewelry. First and foremost, the professional that’s appraising your jewelry and writing down his or her findings should have graduated from a gemological institute or a similar school. In addition, a trustworthy appraiser will be a member of one or more societies dedicated to appraising jewelry professionally.
Any appraisal that you pay money for should be from a reputable source as not receiving professional paperwork means that you’re still not sure what the value of your jewelry is. Any insurance claims you need to process will solely rely on properly filled out paperwork from a licensed appraiser.
If you’ve gotten an appraisal before, make sure you bring your old paperwork to show the appraiser and give him or her an idea of what your jewelry is supposedly worth. The more information you can provide about your jewelry, the easier it is for the appraisal process to contain accurate findings.