The importance of Jewelry Appraisals
Why should I have my fine jewelry appraised? The most common reason to get a jewelry appraisal is for insurance coverage. A detailed document describing your jewelry and its worth assure you of a comparable replacement in case of loss. Appraisals are generally performed on items valued in excess of $500, or on items that have unusual sentimental value, and are also valuable for when you choose to sell, trade or bequeath your jewelry.
Is my jewelry worth appraising? How can I tell? Putting a limit on the items to be appraised should be determined by the owner, accompanied with the expert knowledge of the appraiser. If you own a piece that you could not afford to replace, and it is something that you wear daily, like a wedding set, diamond stud earrings or a fine watch, then insuring the item is critical.
How often should I update my appraisals? The Insurance Institute of America recommends that jewelry be re-appraised every two years.
