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The ABC’s of jewelry appraisals

WHAT IS AN APPRAISAL? An appraisal is a document which includes a description of the item and assigns a value to the piece based on several analyzable, measurable, & visible specifications. These specifications include but are not limited to, materials making up the piece, markings, metal weight and gem size. This document must be prepared by a qualified individual; always look for a Graduate Gemologist who can perform the appraisals on-site.

WHAT SHOULD BE APPRAISED? While all jewelry can hold a degree of irreplaceable sentimental value, your homeowner’s insurance may be adequate to cover replacing lower cost items which may be lost or damaged due to home theft or fire. You will want to carefully review your policy to ensure that your standard coverage includes something that may be lost or possibly stolen while traveling or when you’re out of the home. It is prudent to have separate insurance for higher cost items which may not be fully covered on a standard homeowner’s policy.

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Do you feel confused about appraisals for your jewelry because you do not fully understand the purpose and importance of them? Oliver Ronquillo, GG, GIA, owner and operator of The Jewelsmith, will put your doubts aside and allow you to move forward with confidence by addressing some of the most common uncertainties.

WHAT INFORMATION SHOULD BE INCLUDED IN

AN APPRAISAL? For our purposes here, we are discussing an appraisal for the replacement value of the item. This will allow you to replace your jewelry with something that is similar in size, design, and value should your insured piece get lost, stolen, or damaged. Your appraisal should be very detailed. Metals and stones should be identified by quality, as well as the size of stones. Any visible inclusions or markings should be notated, exceptional craftsmanship or other unique aspects such as brand specifications of the item will be included, and a photograph is also an important part of the appraisal.

HOW OFTEN SHOULD APPRAISALS BE UPDATED?

While a modest fluctuation can be seen with diamonds and other gems, precious metals are where the fluctuations become more obvious. If you have been married for 20 years and have not updated your 18-karat gold wedding ring appraisal, it will be grossly undervalued. Gold was $432 per ounce in 2000 and is currently over $1500 per ounce! Typically, a new appraisal is recommended every 2 to 3 years to remain current.

HOW MUCH SHOULD AN APPRAISAL COST?

There is no standard rate for appraisals; typically, they cost between $50-$100 depending on the amount of time it takes to evaluate the piece. Steer clear of appraisers who charge based on value of the item and always request a quote before committing to having your jewelry appraised.

ADDITIONAL BENEFITS OF HAVING YOUR

JEWELRY APPRAISED. Upon inspection of your jewelry for appraisal, a qualified jeweler or gemologist may find issues with your jewelry that may have otherwise gone unrecognized (i.e. loose or broken stones, cracked shanks or mountings, and missing or worn prongs.) This could allow you to avoid future complications or claims on your policy.

The Jewelsmith is located in suite 780 at The Avenue West Cobb. Cleaning and inspections are always complimentary. Mention this article for $10 off your first appraisal.

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THE SCIENCE OF BEAUTY 7 WAYS TO BE KIND TO YOUR SKIN THIS SPRING

By Madison Haubeck, the Skin Guru at Refinery21 Aesthetique

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YOUR LEG HAIRS FEEL PRICKLY RIGHT AFTER SHAVING

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STRETCHING IS FOR YOGA, NOT YOUR SKIN

When the skin is pulled during pregnancy or weight gain, the collagen and elastin fibers in the dermis layer of the skin get stretched and torn, resulting in stretch marks. You may think that stretch marks and scarring

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