For ages, jewelry has been used to beautify and accessorise our looks. But jewelry isn’t just for accessorising, jewelry is an investment too. With time the value of jewelry pieces rises. We all like to purchase jewelry, whether it’s an engagement ring or a diamond bracelet. Some of us also receive heirloom jewelry pieces passed down to us from our previous generations. To know the true worth of your jewelry, you need a jewelry appraisal.
Why Getting A Jewelry Appraisal Essential?
Seeking jewerly appraisal services is essential for various reasons. The major ones are mentioned below:
*For Insurance: If you have valuable jewelry pieces, you must first get them insured. To buy a jewelry coverage, you will have to provide the insurance company with a certified appraisal document. The appraisal value will be utilised by your insurance company to set the coverage limit and premium that you will have to pay annually.
You need to get your pieces appraised by an experienced appraisal company such as Prestige Valuations. They can ensure that you do not end up paying a higher premium and that you are not underinsured. They also offer other services like luxury handbag valuation and watch appraisal.
If you own a luxury watch, you can get it appraised by a skilled watch valuer.
*To Determine Replacement Value:
It is the true market value of your piece and it is used to determine the replacement value of your item in case it is stolen, lost or damaged. An appraisal document will be required by your insurance company to settle the claim if any untoward incident happens. The document provided by your jewelry appraisal services company will have a detailed description of your valuable piece. This will used by the insurance company to replace it with a similar type of piece.
To Know Its Value For Reselling:
You would want to know the accurate market value of your precious item in the current scenario so that you can resell it accordingly.
Proof of Ownership:
It helps in establishing the authenticity and ownership of the piece. In case of burglary, you might need it to prove to the cops that you are the owner of the jewelry item.
Damaged Jewelry:
During the assessment of your jewelry piece, the appraiser will check your piece properly. And in case, it has any loose stones or prongs then it can be taken care of immediately.
How to find out the value of your jewelry?
If you want to find out the value of your coveted pieces, here are a few steps to follow:
*Inspect for Hallmarks: Inspect your valuable pieces for hallmarks, designer marks and stamps depicting the purity of the metal used. If you have a heirloom piece, by examining your piece, you can find out the quality and origin of your coveted item.
*Research & Study Similar Items: You can research online, on various forums for similar items to determine an estimated value of your precious piece. The value of your item will vary with the quality and weight of precious metals, gemstones, brand and condition.
*Jewelry Appraisal Services: Approaching a professional jewelry appraisal company can be helpful for an accurate appraisal. A qualified jewelry or watch valuer can appraise your coveted pieces professionally. A skilled appraiser will study the current market trends and consider various factors to determine the accurate market value of your jewelry.
How to find a certified and qualified appraiser?
The appraisal company you select must be certified by any of these associations: Gemological Institute of America, American Gem Society or the National Association of Jewelry Appraisals. Appraisal companies like Prestige Valuations have qualified and professional appraisers who adhere to the code of ethics and will provide unbiased appraisals.
Which brands retain their value?
When it comes to diamond jewelry and luxury watches, few brands are known to retain their value and at times even grow in value over time. Tiffany & Co., Cartier and Rolex are a few of the most popular high end brands.
These luxury brands have become a great investment option as they retain or even rise in value over time. These brands have become a name to reckon with because of their premium quality, aesthetic designs and impeccable craftsmanship. They have become status symbols and are flaunted by celebrities the world over.
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