Facts About Your Jewelry Appraisal You Need To Know

Posted on: 30 November 2015

An important part of protecting the investment you have in your fine jewelry is learning more about its value. The prices of precious metals like gold and silver are constantly changing, a factor that greatly affects the value of your pieces of jewelry. Find out why you should always take the time to invest in jewelry appraisals.

Keeping A Schedule For Appraisals Is Important

Because the ever changing market values of precious metals and gems are always changing, the value of your jewelry is as well. Making sure you keep up with changes in the market is vital to you getting back your investment in your jewelry should anything like theft ever happen. An up-to-date appraisal is necessary for your insurance to cover the loss of your jewelry. The current value of your jewelry is necessary for insurance claims if your jewelry is stolen or lost.

The Condition Of Your Jewelry Matters

Over the course of time, your jewelry can experience damage that would affect its overall value. For example, if one of the prongs on your engagement ring was bent or dented, it would affect its value. Scratches on gems can also cause value depreciation as well. Always taking the time to care for your jewelry is vital to maintaining its highest value. Bear in mind that any signs of damage should be recorded in your appraisal, because some of them could be identifiers for insurance claims. For this reason, be sure your appraiser includes photos of each piece he or she is appraising. Having photos and the signature of your appraiser can be helpful if you decide to use another appraiser in the future.

Important Information You Need In Your Appraisal

In addition to your name and current address, your jewelry appraisal should include the kind of jewelry being appraised, the grades of any stones, the description of the piece's design, the condition of the piece and the reason for the appraisal. The maker or manufacturer of your jewelry should also be included on its appraisal certificate. Remember to also make sure the appraiser includes his or her credentials in case you need it for an insurance claim or a police report if your jewelry is stolen.

Some of the jewelry you own may have sentimental value and be irreplaceable. However, by having your jewelry appraised, you can receive monetary compensation if anything like theft happens. Protecting your fine jewelry provides you with peace of mind knowing that you're covered in the event your jewelry ever comes up missing or is lost.

Contact a service like The Jackels Collection of Beverly Hills for more help.