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 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?
5 Essentials of Jewelry Appraisals
Here are 5 essentials every jewelry appraisal should contain:
1. Detailed Description
An extremely detailed description of the piece being appraised should include brand, size, color, unique identifiers, etc. This would be enough information for whomever is reading the description to identify the item. A detailed description from the appraisal is vitally important as well for insurance purposes.
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 stolen or lost. Photographs make it easier to identify and replace the piece in question. 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.
The value set in the appraisal should reflect the current market 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.
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 one. Usually, the best appraisers will be independent of a jewelry store with proper credentials and experience. These appraisers 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-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. A reputable jewelry buyer 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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