5 Key factors to remember to get Jewelry Appraised

jewelry appraisal for insurance

Do you need your jewelry appraised? Do not rush to an appraiser without the vital facts. Some appraisers will hold back some points, thus not giving you the real value for your piece. In most cases, they hope you will sell the piece of jewelry to them. But maybe all you need is a jewelry appraisal for insurance Here is what to keep in mind when you need your jewelry appraised.


Types of Appraisals

Before you settle for an appraisal, you should know they are of different types and serve different needs. The replacement value appraisal is vital when you need a jewelry appraisal for insurance. It helps you get proper compensation or replacements should you lose your piece of jewelry. You can not use this kind of appraisal if you need to sell your jewelry piece. 

You should seek a fair market appraisal when you need to resell your jewelry. In this process, you will need to be patient before reselling. Then there are times you need to liquidate your jewelry pieces due to divorce or other pressing needs. Thus, you get a liquidation appraisal that gives you a lower value than the jewelry’s worth. 


The Kind of Appraiser you Need

There are several kinds of appraisers in the jewelry field. Getting the right one will help you get the real worth of your jewelry. If your jewelry contains precious and semi-precious stones, then you would need a gemologist appraiser. For antique pieces, you would need an antique jewelry appraiser.


Understand the Insurance Requirements

Go through the insurance contract before you sign the papers. Grasp all the demands to see if your jewelry piece meets them. If not, you can seek another company as lenient needs. The bottom line is, you must comply with the insurance company requirements. 


Tips on Pricing

What method does the appraiser use to charge his services? Some have a flat fee for every jewelry piece. Also, some hourly charge rates. Check with both and see who falls within your budget.

Jewelry appraisal charges vary due to the designs of the jewelry. Complex designs will attract higher charges than simple techniques.  


Agree on Preliminary Value Before the Process

Everyone would wish to have their jewelry appraised in their presence. But, it is not always possible due to the tight schedules of both parties. So, you will need to leave your piece of jewelry with the appraiser. 

Since an appraiser deals with various kinds of jewelry, he may damage or lose your jewelry by accident. Thus, it becomes a whole process as you try to prove the worth of your lost or damaged jewelry. Hence, it is essential to agree on a preliminary price should he damage or lose your jewelry. 


Final Word 

The above factors are essential when you need a jewelry appraisal for insurance They help you get the real market value for your jewelry piece. Hence, when you lose or damage your jewelry, you will get fair compensation or replacement. 

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