The Importance of Appraising Your Fine Jewelry

It’s generally recommended that you have your fine jewelry appraised every two years to maintain an up-to-date estimation of its worth. However, precious metal and gemstone values fluctuate wildly, and you may want to appraise your items more frequently.

shutterstock_73833058There are two appraisal methods: one for resale and one for insurance purposes. Appraisals are of the utmost importance when considering insurance. It’s important to know whether your jewelry’s value will be fully covered by your homeowner’s insurance. If you find that you need to take out an extra policy, this policy and its premium will be based upon an official appraisal. An insurance company will require an appraiser’s official documentation of the piece’s worth before they will reimburse you for the value of your lost item. If your fine jewelry is lost or stolen, regular appraisals will help you support your claim in a way a receipt never can.

It’s also important that your appraiser be trustworthy and reputable. As the American Gem Society states, finding a reputable appraiser can be easily done by contacting your jeweler and inquiring about their appraisal services. We’re holding an appraisal event on November 13th and encourage you to bring in your cherished items for an estimation of their value! Schedule your appointment today!