If you’re a connoisseur of diamond and gemstone jewelry, you probably understand the importance of insuring a jewelry collection, but did you know that appraising your jewelry is a crucial element in safeguarding your diamond and gemstone investments?

Jewelry appraisals can help you determine the worth of your diamond and gemstone jewelry for insurance purposes as well as peace of mind. Jewelry appraisals can be performed on any type of jewelry – from diamond engagement rings to necklaces, or earrings and bracelets sparkling with smaller diamonds or stones.

Choosing a Jewelry Appraiser

All appraisers are not equal. When you choose a professional to appraise your jewelry, make sure he or she is qualified to assess your diamonds and gemstones. Ask your appraiser if he or she is a Graduate Gemologist.

Ensuring that your appraiser is qualified can save you from having an insurance claim denied due to misrepresentation of your jewelry’s value.

What is in a Jewelry Appraisal?

Although jewelry appraisal reports vary depending on the appraiser, they will typically include the following information:

• A description of the article, including type and style (like an engagement ring or bracelet); mounting and finish; quality, color and type of metal (white gold, platinum or yellow gold); condition; and total weight of the diamonds or gemstones.
• Description of the diamonds or colored stones, including the type of settings, number of stones; cut, color, clarity and carat (the 4 Cs); measurements and estimated weight of the entire piece.
• Estimated value.
• Gemologist or appraiser’s signature.

The cost for a jewelry appraisal varies depending on the complexity of the project, but you should expect to pay at least $75 or more per piece. Some online companies provide free or very inexpensive appraisals, but online appraisals can’t accurately determine the weight, size or authenticity – it’s best to leave the appraisal to a professional who can provide an accurate, in-depth report of your diamonds and fine gemstone jewelry.

Do’s and Don’ts of Jewelry Appraisal

• Do have your jewelry appraised every three to five years. Market values change often and can lead to over or underinsuring your jewelry.
• Don’t go with the most inexpensive jewelry appraisal – remember, an appraisal is the first step to safeguarding your jewelry with insurance.
• Do give your jewelry appraiser documentation of your jewelry, including receipts, precious gemstone appraisal reports and lab certificates.

Following these guidelines will help further protect your precious jewels!

Have you had your jewelry appraised lately? How often do you have your diamonds appraised?

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