Key Points To Remember For A Jewelry Appraisal

By Author: Alex & Company Jewelers
Total Articles: 5
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The value of jewelry varies due to market trends. It doesn’t matter whether the jewelry is at the store or with s final client. That is why you need a jewelry appraisal for insurance every two years. It helps you to adjust the value of your jewelry piece to the market price.
People seek appraisal for various reasons. Each reason needs a unique set of data. That is why you need a proper consultation with the appraiser.
There are a few issues that you need to check in an appraisal. Here are the key issues.

Detailed Description
Not all jewelry pieces are worthy of an appraisal. Thus, when taking your jewelry for appraisal, carry along accurate details. The details should include the brand name, materials of the metal and stones, color, size, hallmarks, etc. These details help to tell if the jewelry needs an appraisal or not.
When you hold back the data, you may not get a proper appraisal. You may also pay for premiums for a piece of jewelry that is not worthy of an appraisal.

Value
The value of ...
... jewelry should match the current market. Thus, your appraiser should tag the correct value. If you think the value is too high or too low, you can seek a second appraiser to adjust the value. Also, avoid an appraiser that would inflate the value of your jewelry. They may make you pay higher premiums for the jewelry.

Photographs
When you are seeking jewelry appraisal for insurance, you must attach the photos of your jewelry piece. The picture is vital when you lose a jewelry piece, or you need to sell it. It also acts as proof that the appraisal belongs to the jewelry appraised.

Treatment Information
There are several treatments jewelry can undergo to improve the look. They include bleaching, heating, fracture filling, surface coating, etc. You can get the data on the jewelry’s original document.
Be frank with the appraiser if you do not have the data. They will take their time to check whether the jewelry has undergone treatment.

Sales Tax
Sale tax data is vital in jewelry appraisal for insurance. But, many may argue that the tax data is not needed. But since you know people get some cash refund when they pay taxes, it can save you a few coins. The sale tax is only essential if you are appraising for insurance. If you need to resell, the appraiser should focus on the market value.

Type if Appraisal
There are many types of appraisals in the market. None of them can serve the purpose of the other. Before you get a check, inform the appraiser of the kind of appraisal you need. For instance, you cannot take the jewelry appraisal for insurance if you need an appraisal for reselling.

An Open Discussion with the Appraiser
Every appraiser should allow a one-on-one discussion with the customer. It is at this time you get to ask all the questions you have about jewelry appraisal. Also, it is at this time you can ask about the qualification and experience of the appraiser. The information you get gives you the confidence that your jewelry is in safe hands.

Conclusion
Jewelry appraisal for insurance is the most sought after type of appraisals. It’s because people need to pay the correct premiums to the insurer. Also, you can get fair compensation if you lose your jewelry.