7 Questions to Ask When Getting Your Jewelry Appraised
Here are some key questions to ask before you ask for and pay for an appraisal of your jewelry:
1. “Why do I need an appraisal?”
Having your jewelry appraised correctly and accurately is very important for both you and your insurance company so that if your jewelry is lost, stolen or damaged it can be used by the insurance company to quote the replacement and by the jeweler to replicate it exactly.
2. “How often should I have my jewelry re appraised?"
We usually recommend getting your appraisal values checked every three to five years. As precious metals fluctuate daily with the stock market.
3. “How much will it cost today to repair or replace it?”
It depends on the piece of jewelry, the complexity, the craftsmanship, the diamond weights, color, clarity, the weight of precious metal. Your appraisal needs to accurately reflect replacement cost with a little bit of a buffer for changes in the values over three to five years.
4. “How much will an appraisal cost?”
We charge $100 for the first item and the subsequent items will be charged at $75 each unless they are very complex.
5. “For how many years will this replacement figure be accurate?”
For about three to five years. There may be no change but you should have it checked that often to be sure the stated value is still current.
6. “How much experience should my appraiser have?”
The more years they have worked with jewelry, the better. Ask around for others opinions on the work of the appraiser. Our Scott Falconer has been in the business for decades and is sought after by professionals who are familiar with his accuracy and detail.
7. “Is the appraiser a Graduate Gemologist?”
Make sure you have a Graduate Gemologist or certified jewelry appraiser prepare your appraisals. They are professionals that understand and are familiar with changing market values of metals, diamonds and precious gemstones.
Click for more information on our jewelry appraisal process.