What's a Jewelry Appraisal, and Why Do I Need One?

Written By Allie Perry July 12, 2024

You already know jewelry holds immense value. 

The sentimental value of your jewelry is something you determine yourself. Is that necklace an antique heirloom and prized possession from your favorite grandma (the one who makes the good mac & cheese)? Or did you get it at Claire’s one day when you randomly decided the thing that would go best with your mall Cinnabon was a new earring hole administered by a moderately apathetic and minimally-trained teenager with a flimsy plastic piercing gun? Those origins will likely rank your personal relationship with each piece of jewelry differently, and assign each piece a different sentimental value.

But fine jewelry also has intrinsic value! The monetary value of your jewelry is determined by many different factors like materials, quality, craftsmanship, and rarity. Whether it’s a family heirloom, an engagement ring, or a precious gift, understanding its worth is crucial. This is where jewelry appraisals come into play. I’ll tell you what they are, why you need them, and where you can get one!

What is a Jewelry Appraisal?

Simply put, a jewelry appraisal is a professional assessment that determines the value of your piece of jewelry. This evaluation is conducted by a certified appraiser who examines your jewelry’s materials, craftsmanship, and overall condition. The appraisal document typically includes a detailed description of your item, the methods used for valuation, and the appraiser's credentials. Photos can also be included to provide a reference in case the piece needs to be recreated or replaced due to loss or theft.

Why Do I Need A Jewelry Appraisal?

When you think of a jewelry appraisal, you probably think of insurance- but there are several reasons you could need an appraisal for your jewelry.

1. Insurance Purposes: One of the primary reasons for getting a jewelry appraisal is for insurance. In case of loss, theft, or damage, having an up-to-date appraisal ensures that you can recover the item's full value.

2. Resale Value: If you plan to sell your jewelry, an appraisal helps you understand its market value. It provides potential buyers with confidence in the authenticity and worth of the piece.

3. Estate Planning: For inheritance and estate division, appraisals help in fairly distributing assets among heirs. It also aids in accurately calculating estate taxes.

4. Verification of Authenticity: An appraisal can confirm the authenticity of gemstones and metals, ensuring that you know exactly what you own.

5. Loan Collateral: Jewelry can be used as collateral for loans. An appraisal establishes its value, which can be used to secure a loan.

Where Do I Get a Jewelry Appraisal?

When it comes time to get your jewelry appraised, there are only certain people who can do the job correctly, and it helps to know what to look for.

1. Certified Appraisers: Look for appraisers certified by recognized organizations such as the Gemological Institute of America (GIA), the American Gem Society (AGS), or the International Society of Appraisers (ISA). These professionals follow strict standards and ethical guidelines.

2. Jewelry Stores: Many reputable jewelry stores offer appraisal services. Ensure the store has a certified appraiser on staff.

3. Independent Appraisers: Independent appraisers operate separately from jewelry sellers, providing unbiased evaluations. They often have offices or can conduct appraisals at your location.

4. Auction Houses: For high-value or antique jewelry, auction houses with specialized appraisers can provide detailed and accurate appraisals.

Tips for Getting an Appraisal

Here are a few things to keep in mind when you decide to get your jewelry appraised:

• Research: Make sure you choose a certified and reputable appraiser who has the necessary credentials and experience to give you an accurate and reliable evaluation.
• Documentation: Bring any previous appraisals, receipts, or certificates of authenticity that you already have so the appraiser can review and compile the information.
• Regular Updates: The value of your jewelry can change over time due to market fluctuations, so you should get your appraisals updated every 3-5 years.

Jewelry appraisals are essential for understanding your jewelry and any value that may be associated with it, whether for insurance, resale, or just personal knowledge. Once you have an appraisal, you can not only fully appreciate your jewelry, you can take the necessary steps to safeguard it!