Jewelry Appraisal: Everything you need to know
Fortunately or unfortunately, the sentimental value of your jewelry piece is not a factor that is considered while assessing the worth of the jewelry. However, you can easily make an estimation of the worth of your item with the help of a service popularly known as the Antique Jewelry Appraisal, before you list it for sale or for insurance purposes.
What is Jewelry Appraisal?
An Antique Jewelry Appraisal, also known as a jewelry valuation, is a document that states the worth of a particular piece of jewelry. A jewelry appraisal performs a close inspection of the item to determine its value and then issues the appraisal. The inspection process involves scrutinizing the condition of the piece, its gemstones and their quality characteristics, the settings, and the metal. However, these are only some criteria used in the appraisal before you Sell Fine Jewelry in Aventura.
Once the appraiser completes performing a close examination of the jewelry piece, he/she will estimate its worth and put this value in writing along with a detailed description. A proper Antique Jewelry Appraisal should give a complete description of the jewelry item stating the weight and type of the metal the jewelry piece is made of, an estimated gemstone carat weight, approximate clarity and color, and other details.
What are Jewelry Appraisals used for?
Appraisals help determine the value of a piece of jewelry. There are occasions that demand written proof of the value of your item, and it is here where an Antique Jewelry Appraisal comes in handy.
Appraisals are mostly required for insurance purposes. The insurer will tell you to present the proof of how much the item is worth which will help them determine the insurance replacement value of your jewelry piece. If your jewelry is stolen or lost, you can prove your ownership and collect the insurance and also identify the piece if it is found, with the help of the detailed description in the Antique Jewelry Appraisal.
You should also keep in mind that the prices of gemstones and other precious metals keep on regularly changing. So, you should always get this document renewed at least every few years. Moreover, appraisal fees should never be calculated on a percentage of a jeweler’s value as in this way, an appraiser can make more money by making a higher valuation of the item. Instead, appraisal charges should always be charged by a flat fee per item or by the hour. Another point to keep in mind here is that antique jewelry pieces only require an expert in that field because cultural significance plays a crucial role in the determination of the final value.
Does a Jewelry Appraisal help Sell Fine Jewelry in Aventura?
An Antique Jewelry Appraisal is always a good idea, especially if your item is exorbitant. But here you should keep in mind that the selling price and the appraisal price are completely different things.
An Appraisal is just a guide. It will not match what you would earn if you decide to Sell Fine Jewelry in Aventura. Some of the recent surveys have shown that you will get approximately 25-40% of the retail value of your jewelry. Take, for instance, if you paid $4500 for a diamond engagement ring, for replacement purposes, it should be appraised at around $4,500, but the same ring can be sold for about $2,700 or even less to a jewelry buyer.
You should also take note of the fact that the most valuable parts of a jewelry piece are the precious metal and the center stone. Thus, as you can well understand if you are looking to Sell Fine Jewelry in Aventura that incorporates many smaller stones, the retail price will be disproportionately higher than the resale price. This is because the smaller stones are generally considered to be scrap. Any additional factors like the jeweler’s profit and labor are no longer relevant. But, this rule comes with an exception. Jewelry from elite brands retains its premium reselling value.
Who can appraise jewelry?
People who have undergone training in gemology and valuation can issue an Antique Jewelry Appraisal. However, you should keep in mind that there are no federal or state license requirements. You should be very cautious as almost anyone in a jewelry business who is equipped with the necessary tools can claim himself to be an appraiser. You should always choose professionals who meet the required eligibility criteria, has adequate qualifications for the same, and also adheres to a code of ethics.
Apart from this, the appraiser of an Antique Jewelry Appraisal should also be a graduate gemologist and should possess good knowledge about the current jewelry market.