The Benefits of Getting Your Jewelry Appraised

To appraise means to assess the value of something, like jewelry. Do you know how much your precious gems are worth? Your jewels may be worth the world to you in sentimental value, but their worth in monetary value could be a good thing to know in case they ever go missing or you want to make a sale.

Appraisal could give you peace of mind and a profound appreciation for the worth of your jewelry. It could vindicate your notions of what your jewels are worth, or it could dash your dreams because some jewelry is sold as worth more than it is valued. Hence, the value of professional jewelry appraisal.

Some people are dripping with diamonds worth hundreds of thousands of dollars, while others have one or two hand-me-down pieces that are family heirlooms. Professional appraisal examines both, and every circumstance in between, giving you a deeper understanding of what your gems would be worth in the jewelry world. If you find out your jewelry is worth more than you anticipated, it doesn’t mean you have to resell immediately. In fact, you don’t have to sell it at all. But having something valuable puts your mind at ease because you know that if a financial disaster ever occurred, you’d have the option of selling something worthwhile to get back on your feet.

Read on to learn more about the jewelry appraisal process, the benefits, and how authenticity could lend to sentimental value.

Understanding the Appraisal Process

There are several steps in the jewelry appraisal process, beginning with finding a certified, qualified appraiser. Many appraisers are also jewelers, equipped with certifications from organizations like the Gemological Institute of America or the American Gem Society. Certifications indicate professionalism and repute, so ask for proof of qualifications from appraisers you find.

A well-trained, qualified appraiser will be thorough, so gather existing documentation or proof of ownership that you may have for your jewelry. Include things like authenticity certificates, receipts, warranties, and previous appraisals.

What is the purpose of your appraisal? Insurance, resale, and estate appraisals are different purposes, so the process could vary. However, in either case, the appraiser will examine each piece of jewelry with specialized tools, like a microscope or loupe (a small magnifier). They are looking at the gemstone’s clarity, authenticity, sizes, and weights, as well as the condition of precious metals and stones. Specialized tools help them see what may not be visible to the naked eye, such as minuscule scratches or imperfections in the gems.

The appraiser will document all of their findings, jotting down the specifics of each piece of jewelry from design and craftsmanship to maker’s marks and distinguishing features. They may take pictures for further documentation, all of which you should receive copies of. From there, trends, comparable prices, and current market conditions are measured against your jewelry to determine the value.

There are three values for your jewelry—replacement, market, and liquidation. Each value will be different but high if your jewelry checks out as authentic and worthwhile. From there, the appraiser compiles a thorough report with descriptions, photographs, and valuation, signed with the appraiser’s credentials and official signature.

Keep the appraisal in a safe space, like a lockbox or vault, for safekeeping. It’s recommended that you get your jewelry reappraised every few years to keep up with market changes.

Why is Appraisal Essential for Your Valuables?

Appraisal is essential for various reasons, one being insurance purposes. If you have homeowner’s insurance or renter’s insurance and something happens to your belongings, you want to be reimbursed in the right amount. Jewelry appraisal is proof that, in the event of damage, loss, or theft, you can be adequately compensated. Without an appraisal, the insurance company can legally pay you whatever they deem your jewelry worth, which could be thousands less than its value.

Do you plan on leaving behind heirlooms for your loved ones? Appraisal provides clear documentation for each piece of jewelry that you’d leave to heirs. If you’re not leaving a particular jewel to any one loved one, the appraisal makes it easier to divvy assets equally. Ergo, fewer reasons for estate disputes.

If you want to build your net worth over time, appraisals can help you track the value of your jewelry and other high-cost investments. This will aid in big financial decisions and investment planning, as well as estate or divorce settlements to ensure all parties have an accurate valuation of the assets involved.

Knowing what your jewelry is worth and having documentation provides peace of mind above anything else. You can feel safer and more secure in the knowledge that your investments are well-protected and accounted for, especially in cases of disaster. Additionally, you can pass that knowledge down if those jewels become heirlooms, even though the value will either rise or fall with the condition of the market over the years.

Ensure Authenticity Through Professional Appraisal: Assess Craftsmanship and Quality

Did you know that most jewelry comes with a maker’s mark? It’s a small signature of the craftsman, often invisible unless someone is searching for it. Appraisers are professionals at finding these marks, and it can significantly add to the value, depending on the popularity of the craftsman. It’s one way that an appraiser would ensure authenticity.

These marks can also verify the history of a piece of jewelry. Older jewelry, especially heirlooms, are likely to have been appraised a dozen times over the years, making it easier to establish authenticity, track historical records and auction results, and document previous ownership. You can see a gemstone’s entire history with a single appraisal.

The Sentimental Value: A Record of History and Heritage

Appraisals are well-documented processes that keep a jewel’s history alive, which comes in handy for family heirlooms. An appraiser’s report can include the history and heritage of a jeweled piece, adding to its sentimental value for the current owner. Understanding its background adds depth and purpose to its sentimental value, connecting you to a broader culture and history.

Jewelry pieces with the most sentimental value are often heirlooms, but what is an heirloom? By definition, an heirloom is something passed down through generations. For example, a great-great-grandmother’s engagement ring or a great-great-great grandfather’s pocket watch. Pieces that were owned and loved by a beloved family member are likely to become a family heirloom, but other factors can make jewelry an heirloom, such as:

• Timeless and classic designs are rare and likely to be more appreciated by successive generations. Jewelry that is well-made to maintain its style and beauty has a better chance of being handed down.
• Monetary value, while not typically the only factor, could be a reason to make jewelry an heirloom. High-grade materials like gold, platinum, diamonds, and other precious stones will make a valuable piece, which is more likely to be cared for and preserved.
• Distinctive, rare pieces with unique gemstones often become heirlooms because they add to the value and desirability of family treasures.
• Pieces with historical importance or backstories can become heirlooms across multiple generations. They are often associated with significant milestones on the family tree.
• Custom-made, family-specific jewels with initials, family crests, or engravings. These hold special meaning and are treasured across generations.

If a piece of jewelry is generations old, it’s probably been appraised dozens of times, making it simpler to trace back the lineage and market values. To better document your piece’s appraisal history, you could make graphs and tangible charts from the appraiser data, showcasing the significant milestones of a piece. Overall, it’s a combination of emotional, historical, and material relevance that imbues a cherished item with heirloom status.

The Role of Appraisal in Recovering Lost or Stolen Jewelry

Professional high-end jewel thieves often use appraisers to find the true value of a piece they’ve stolen. If your jewelry is lost or stolen, the appraiser can track its documentation, providing law enforcement with information to facilitate insurance claims. It also helps if you’ve kept appraisal records because you can provide police with detailed reports and photographs, making it easier to watch the markets in case your stolen or lost jewelry is up for resale.

Additionally, you can use photographs to create social media posts, alerts, and flyers for missing jewelry. You can also alert your appraiser, as they have strong connections to jewelers, pawn shops, and auction houses, and can be on the lookout for your pieces. Increasing public awareness, particularly when coupled with a reward, will increase your chances of recovering your precious gems.

In Conclusion

An appraisal of jewelry is an invaluable tool, providing you with detailed, thorough documentation of your precious gems. While appraisals can validate your feelings on worthwhile jewelry, they can also help you prepare for unfortunate events, like loss, theft, or damage. In a nutshell, jewelry appraisal helps protect both the financial and sentimental value of your most prized belongings. Appraisal is as much an investment as the jewelry itself.