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Appraising Jewelry Appraisals

Appraising Jewelry Appraisals

The holidays have come and gone. For those of you who were lucky enough to have received jewelry, you may be wondering how to best protect your new acquisition. If you are considering insuring your jewelry, you should first check with your insurance agent to see what the insurance company requires. In many cases, jewelry can be covered under your homeowner’s policy, up to a certain dollar amount. More expensive jewelry usually needs to be scheduled (itemized in your policy), which requires a written appraisal. While jewelry appraisals can establish a value for insurance purposes, each piece of jewelry has multiple different correct values, depending upon one’s needs.

Replacement cost for insurance purposes is higher than the value used for an estate appraisal of the same jewelry. A professional appraiser will provide the correct value to fit your needs; therefore, it is important to investigate the appraiser’s qualifications. Personal property appraisers are not licensed by the government, as real property (real estate) appraisers must be. Anyone can offer personal property appraisals, regardless of their training or  qualifications. However, jewelry appraisals performed by individuals without proper appraisal and gemological qualifications may not protect you if that appraisal is challenged.

The responsibility falls on consumers to research their options when it comes to selecting an appraiser. There tends to be little difference, if any, in cost between appraisals performed by unqualified individuals and trained professionals. Ultimately, any jewelry with enough value to merit a written appraisal should be worth utilizing a qualified appraiser for their expertise and your peace of mind.

3 Responses to “Appraising Jewelry Appraisals”

  1. Great information, thanks.

  2. Andrew Pelt says:

    Hi, i just thought i’d post and let you know your blogs layout is really messed up on the G-Matrix browser. Anyhow keep up the good work.

  3. I really enjoy your site, thanks for posting!


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