Why Should I Get My Jewelry Appraised?There are several important reasons to have your jewelry appraised. Primarily, it should be for insurance purposes. Jewelry changes in value over time. Stones and cuts go in and out of fashion, which causes them to become worth more or perhaps less on the market. Or consider 2012, where the price of gold skyrocketed to $1,900 an ounce. This would, of course, change the value of gold jewelry. And remember that jewelry is art, and the value of art appreciates over time. It can be very tricky for someone who doesn’t have training in appraisal to keep track trends and the methods professionals use to assess the quality of jewelry.
Also, insurance companies don’t like “maybes” and personal assessments. If you don’t have a disinterested professional establishing a replacement value for an insurance company, an unforeseen fire or theft can lead to you losing a regrettable amount of money.
Appraisal creates a promise of trust for a piece of jewelry before you make your purchase. Certification programs like GIA or AGS give appraisers a frame of reference to tell you about every aspect of your potential purchase—including the pros and cons of the piece. This allows you to compare your chosen jewelry with other choices.
The Appraisal ProcessVisiting Medawar Jewelers means working with GIA-certified professionals who are more than skilled at appraising your jewelry to give it an insurance-friendly paper trail. Here at Medawar Jewelers, we suggest that you get a new appraisal every two years to make sure that you know exactly what your pieces are worth.
And remember that significantly altering your jewelry alters its value. Alterations include changing the stones in a piece, having a goldsmith changing the size or design of a ring, or having features added to it. And if you have custom jewelry created, appraisers can assist you in forming a basis for the value of your new treasure.