Top 5 Things to Know When Searching For Jewelry Appraisal Near Me

“I’m looking for a jewelry appraisal near me.” Sound familiar? We receive a fair share of these requests and people expressing concerns over the legitimacy of different appraisers. Whether you want to sell your engagement ring, estate jewelry, or simply figure out its value, a reputable jewelry appraisal is extremely important.

First, let’s define what a jewelry appraisal is. Jewelry appraisal is the process in which a qualified professional will evaluate your jewelry and determine its value. How do you know you are receiving a professional jewelry appraisal? Here are 5 of our top tips:

5 Essentials of Jewelry Appraisals

Whether you have been searching for a “jewelry appraiser near me” or online jewelry appraisal services, every professional appraisal should contain the following essential items:

1. Detailed Description

An extremely detailed description of the piece being appraised should include brand, size, color, jewelry designers, unique identifiers, etc. This would be enough information for whomever is reading the description to identify the item. An accurate appraisal description from the appraiser is extremely important as well for insurance purposes.

2. Photographs

Although photographs are not necessarily required, they are still a great idea to have on hand. Having an item photographed helps in the chance the item is lost or stolen. Photographs make it easier to identify and replace the piece in question. This is especially important for custom jewelry pieces. It is also good to have photographs when selling a piece of jewelry. This will help the buyer determine whether the appraisal belongs to the jewelry being sold.

3. Value

The valuation set in the appraisal should reflect the current market value and not the replacement value. It can be tempting to inflate the value of an item you want to sell, but this will only void the appraisal. Inflating the price will cause more harm than good, such as increased premiums with no additional coverage if the item is lost or stolen. The appraised value will adequately cover the cost of the jewelry in the case of it being lost. Also, when you are selling your jewelry, the person evaluating the item will most likely have knowledge of the current market and will not accept an inflated appraisal.

4. Sales Tax

Generally speaking, if you are appraising for insurance purposes, then it would be wise to include sales tax. However, not all appraisers will include the sales tax in the appraised value. This is something you should decide for yourself and talk about with the appraiser. If the jewelry is being appraised solely for selling purposes, then sales tax is not necessary to include in the price. In this case, the appraiser will focus on the current market value of the item and not the insurance replacement value.

5. Treatment Information

According to the Federal Trade Commission (FTC) in the United States, most treatments done to the jewelry need to be disclosed to the consumer. Treatments include any processes done to improve the appearance of a gemstone other than cutting and polishing. Common treatments include heating, bleaching, dyeing, fracture or cavity filling, surface coating, etc. The appraisal must contain this information.

There are many places to get a jewelry appraisal near you but be sure to do your research to find a reputable and accredited one. Usually, the best appraisers will be independent of a jewelry store with proper credentials and years of experience. These appraisers are usually gemologists, have great reputations and do not buy or sell jewelry themselves. Look online at their reviews or their Better Business Bureau rating if you are unsure where to start.

We do have a team of GIA (Gemological Institute of America)-certified appraisers that will make a fair offer even if you don’t have an appraisal though. However, it is best practice to obtain a third party appraisal before bringing in your jewelry to be sold. We always uphold best practice protocol. Reputable jewelry buyers or Gold buyers will evaluate an appraisal and determine whether or not it fits the current market value of your jewelry. Lastly, remember that it is okay to receive multiple appraisals and offers to ensure you a receiving the best value for your jewelry.

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