Often, your home insurer will require an appraisal of your valuable jewelry to determine the retail replacement value, new, of your particular piece of jewelry. This appraisal is to function as a value estimate for obtaining insurance. The value is representative of the time it is accomplished and the regional market.
Retail replacement, new, is defined as the value that is the mode of current sales in the most common and appropriate market for new, like kind, or comparable jewelry. The valuation of the appraised piece is the replacement value at the current date in the local marketplace.
A variety of sources are consulted to obtain the value. The specific market addressed is the one in which the jewelry is most commonly sold to consumers by retailers in new condition, a retail jewelry establishment.
Measurements of all gemstones and weights are estimates. They are formulated using accepted industry standards. All diamond and gemstone grading reflects the grading standards of the Gemological Institute of America. All jewelry evaluations and appraisals are subjective, and estimates of value may vary.
Quality analysis of gemstones is limited by various types of settings, mountings, and lighting conditions. The quality grades might differ if analyzed removed from the mountings, or under different light sources. Metals are identified by electronic testing. Designer and manufacturer is identified from trademarks, hallmarks, or maker’s marks, if present. Considerations in the final estimate of value include quality grading of diamonds and gemstones, metal karatage and weight, designer/artist/manufacturer, type of manufacture, quality of craftsmanship, design, physical condition, repairs needed or performed, supply and demand, and economic conditions of the current jewelry market.
The value expressed is based on current market information and no opinion is expressed as to any long range or future value, nor as to any past value. The appraiser has no present or future interest in the purchase and/or resale of the property appraised and the fee for this appraisal is not contingent upon values submitted.
The cost of an appraisal is $70 per piece.