Why You May Need a Jewelry Appraisal

Why You May Need a Jewelry Appraisal

An appraisal will determine the value of your jewelry. There can be many reason you need appraisal jewelry. It is imperative that you understand the value of the jewelry you own or are planning to own. You must contact an experienced appraiser and ensure they are registered.

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Why Do You Need Appraisal Jewelry?

People want to make sure the jewelry they are purchasing is actually worth something. The same can be said for when someone is selling jewelry. If they did not purchase it themselves, as most precious jewelry items are handed down in families, they will not know the actual worth of the item until they get it appraised.

Another reason you may need appraisal jewelry is if you need to know the worth of your jewelry for insurance or tax purposes. If this is the case, getting a legitimate appraisal is important. You want to make sure the document you are given by the appraiser contains the exact information your insurer requires. If you are getting a divorce, assessing the value of the jewelry is important to ensure that both parties get an equal share.

Important Information in a Jewelry Appraisal

When you receive your jewelry appraisal, there are certain pieces of information that must be included in the document.

There must be a picture of the jewelry in question. This has to be in color and must be a clear photograph showing the actual size of the item. A detailed description of the item must be included. Details such as the weight and grade of the metal, and color of the stones, if any should be included.

Most importantly, there must be a value listed for the jewelry item. This can be the cash value (the value of the item at current market rate), replacement value (what the insurer will pay you in case of loss or theft) or the agreed value (a value agreed to by you and the insurer in case of loss or theft).

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