Why Should I Get my Jewelry Appraised?

Why Should I Get my Jewelry Appraised?

Why Should I get my Jewelry Appraised?

One thing that newly weds don’t take into account is the severe losses they can endure when the right safety matters aren’t taken. When you become engaged or married the ultimate first thing you should do is get your rings appraised. The price can range from $30 to $100 dollars, depending on the jeweler who you made an appointment with. By this point you’re probably thinking, “whats the point? Why do I even care, if I lose my jewelry I won’t recover that much!” This is actually completely untrue. Depending on your insurance policy your company can go as far as completely replacing the ring altogether. The point of an appraisal is to get the approximate retail replacement price.

Where do I start? 

This is exactly where you start. Read multiple appraisal articles to get an overall idea on what a good appraisal consists of so you don’t get scammed. Remember the prices to fluctuate depending on where you go and what the piece of jewelry is. Usually we say if a piece of jewelry is priced more than $10,000 we recommend getting it appraised. Once you have found a reputable jeweler with a good price gather up all your jewels and bring them in to the store. Prior to bringing it into the store make sure you aren’t just walking in to the store with the jewelry in your hand, you have to keep it under wraps to keep thieves away! This may seem like complete common sense to some people, but just remember where there is a jewelry store there is always schemers watching close by.

What Should I Expect From the Appraisal? 

This is a very popular question. Once you have arrived at the jewelry store you are going in for an appraisal with, you should be guided by the appraiser to an office to have him/her inspect your piece. The thing that most jewelry stores don’t advertise is an appraisal should be done by a diamond certified appraiser. Most jewelry stores use gemologists, which isn’t bad, but most aren’t trained first hand with appraising. You have to go to someone that is very fluent in the business aspect of jewelry. A lot of the people out there now just look up characteristics on Rapaport and get their retail replacement values from there. It can be accurate, but you are better of dealing first hand with someone who really knows what they are doing.

What to do After the Appraisal?

After the appraisal is all finished you should be given paper work that gives a brief description of the jewelry you just had appraised, a diamond report (aka what the color and clarity is). You should also be given an approximate price, this price is VERY important. The estimated retail price they give you will be the money you get returned if your ring is lost or stolen. It is good to be fluent in jeweler because scamming is very popular in the jewelry business. You need to be aware of prices and deals to know if you are getting the correct price for things.

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