Getting Jewelry Appraised: 5 W’s

Be aware of who, what, when, where, and why’s of getting jewelry appraised. Learn what getting jewelry appraised is for, who’s qualified to do it, and why bother. Protect your new diamond engagement ring, pearl necklace, or antique jewelry collection with an appraisal!

What is jewelry appraisal?

A certified professional will analyze your jewelry to determine a dollar value based on the current market. They record the weight, materials, markings, quality and rarity of a gem, and the manufacturing.  There are many different types of appraisals to watch out for depending on your purpose like insuring versus liquidating.

Why get jewelry appraised?

The most common reason for getting jewelry appraised is to have insurance. To have insurance on the item, it requires an appraisal and helps replace the item if it is lost, stolen, or damaged. Other reasons for getting jewelry appraised include selling for fair market value, estate planning, and liquidation. This overlaps with when to get your jewelry appraised.

When to appraise?

You might get an appraisal when you purchased an item, but they do expire. It is recommended to get another appraisal within two to three years of the previous one to stay current with the market. Another occurrence warranting a renewed appraisal is if your item has been significantly altered. For example you would want a ring appraisal if the gem is swapped out.

Other times to get an appraisal

• Change of insurance company or the policy demands
• When planning to sell, gift, or bequeath
• Putting in a trust
• Owner dispute
• Any big market changes which decrease or increase value.

Who should appraise your Jewelry?

It is very important to find an independent appraiser to be unbiased and give the true value of your item in the current market. A certified appraiser will have a GIA Graduate Gemologist diploma (GG) plus a certification from the American Gem Society (AGS) or the National Association of Jewelry Appraisers (NAJA) or equivalent. Having the GG diploma does NOT guarantee they are certified for appraisal.

It is a bonus if the appraiser belongs to the AGS or other society with a specified standard of ethics. An appraiser can also specialize in an item like watches or specialize in insuring like certified insurance appraisers (CIA).

Where to go?

There are many appraisers and gemologists, but check for proper certifications.