Jewelry Appraisals are an Important Part of Jewelry Ownership
January 28, 2020
Do you know why it’s important to get jewelry appraisals for all your jewelry? Appraising a piece of jewellery is a way to determine its value, which is essential if you want to insure your jewelry and protect yourself against potential loss.
The first step in getting jewelry appraisal services is finding a professional appraiser who can correctly identify the item and then evaluate its quality accordingly in a written report. While a gemologist is an expert in identifying gems, an appraiser assesses their quality and then determines their value based on commercial context and market pressures. He or she will then create a comprehensive description supporting an estimate of value of the jewelry.
Getting jewelry appraisals is a way to get an unbiased opinion regarding the composition, qualities, and values of your jewelry. For insurance purposes, an appraisal document should include a detailed description of the item and use recognized terminology and grading systems.
If you don’t think it’s important to have insurance coverage for your jewelry and watches, think again! Anything of value, such as your house, car, or jewelry, should be protected through insurance. Sometimes people think that that basic homeowner’s or tenant insurance provides the coverage they need, but it may not. If you want full replacement value for your jewelry, having it appraised and knowing its full replacement value is imperative. Options for insurance might include adding a rider on your homeowner’s policy, or purchasing a standalone policy for your jewelry.
Thanks to jewelry appraisals, you can obtain comprehensive jewelry coverage that goes beyond ordinary homeowner’s insurance, along with worldwide protection, which allows you to travel anywhere with peace of mind.
While some merchants may offer free appraisals when you purchase jewelry, it’s advisable to get a second opinion through jewelry appraisals services to confirm the value of the jewelry. An independent appraiser will provide an accurate, in-depth appraisal, which can be used for insurance purposes.
Another reason to seek jewelry appraisal services is if you have inherited jewelry from a relative or loved one. One of the first things you should do is take the piece for an appraisal. This will be helpful regardless of your future plans for the jewelry. For insurance or for selling, the appraisal will be helpful.
If you own an expensive piece of jewelry, don’t risk theft or loss before insuring it. Instead, get jewelry appraises services and be prepared to add it to your insurance to protect yourself from loss.