Having your jewelry appraised is essential for safeguarding your valuable items through your homeowner’s or renter’s insurance policy. At Goldsmith Jewelers, our professional appraiser with over 28 years of experience will evaluate the retail replacement value of your items and issue an appraisal to send to your insurance company. Even if you already have an insurance appraisal, it’s wise to have your jewelry re-evaluated every few years to accommodate the fluctuating cost of diamonds and precious metals.
What is a jewelry appraisal?
An appraisal is an evaluation done to determine the value of an article by a qualified expert in the field of gemology. First the item and its components are assessed. They are then graded to industry standards where a relative value is given depending on the purpose of the appraisal.
What are the different types of appraisals?
A relative retail replacement value is typical for insurance purposes. Your insurance policy will explain your coverage, limits and conditions, but a good rule of thumb is any single item over $1000 in value.
A typical estate appraisal is a fair market value assessment for the purpose of an estate settlement. Usually this value is substantially less than retail and necessary for legal purposes.
Charles A. Potts, Graduate Gemologist
- Graduate Gemologist of the Gemological Institute of America, 1986
- Over 30 years experience in the jewelry field
- Extensive gem research library
- Adhering to the uniform standards of professional appraisal practice