Appraisal Worthy? How to know which jewelry you should appraise.

What is an insurance jewelry appraisal?
It is an estimation of the value of a piece of jewelry for the purpose of insurance.

Why would you need an insurance jewelry appraisal?
To insure your jewelry against theft, lost including the center stone being chipped or fallen out, you need to insure your jewelry with your homeowner's or renter's insurance. To do so, you will need to provide them with a written insurance jewelry appraisal.

How much does a jewelry appraisal cost?
The jeweler your purchased your jewelry from should provide you with a free insurance jewelry appraisal.

If your jeweler did not provide you with an insurance jewelry appraisal then we will be happy to provide you one for a minimal fee of $40.00.
Click here to see what  else your jeweler should be doing for free.

What jewelry should I have appraised?

We usually say any jewelry that is valued more than your deductible. We encourage you to have a discussion with your insurance agent about the different types of jewelry insurance they provide. 

We also recommend having them put all their recommendations in writing. Such as if they say your pearl ring falls under your general insurance but your diamond ring needs to be itemized - have that all in writing with pictures if possible.

How long is my appraisal good for?

An insurance appraisal is usually good for 5-7 years. However, such as when the stock market dropped in 2009 the gold market soared to all time highs. This resulted in gold jewelry needed to have appraisals updated.

Is liquidation and appraisal value the same.

The simple answer is -No. Appraisal value is to remake the ring as closely to the original as possible. Liquidation or scrap value is the value of the gold when it is going to be refined.  We like to explain it like this...If you wanted fully restore classic car of your choice you would expect to pay drastically more than if you had an old car that you were taking to the scrap yard