Appraisals

A jewellery appraisal for insurance purposes is an opinion regarding the authenticity, quality, design and replacement value of a piece of jewellery.  Many people believe that the declared value is the most important aspect of an appraisal however an accurate description of the piece’s design and components (the metal and stones) is really the key to establishing a precise evaluation. 

Since the components of many jewellery items are traded on world markets there can be great fluctuations in their value over time.  It is for this reason that an up-to-date appraisal of your jewellery is encouraged.  This is the only way to ensure that your insurance coverage reflects the current replacement cost of each item in the event of loss or theft.  It is recommended that specific items listed on your insurance policy be appraised every two or thiree years to keep values current.

Backed with education, experience and appropriate equipment, it is important to understand that there can be honest variations between competent appraisals of the same piece of jewellery due primarily to retail markups.  Keep in mind that the more intricate the jewellery item, the more time will be required to assess it.  Pricing can vary depending upon the amount of identification required to appraise an item.