Jewelry Appraisal: What Makes it So Important?

Do you have a beautiful collection of fine diamond jewelry? Are you wondering whether you should get them appraised or not? The answer to this question is ‘yes’. You must get a jewelry valuation to protect the value of your precious pieces. Jewelry appraisal NYC will be required for getting insurance, selling and estate planning.

Do You Need A Jewelry Appraisal in NYC?

Yes, it is important to get a jewelry appraisal in NYC. If you have inherited a vintage piece of diamond jewelry or recently purchased a beautiful piece of fine jewelry, an appraisal will secure its value. A jewelry appraisal document will let you know the fair market value of your piece along with other important details. Jewelry is a significant investment and it is crucial to get it properly documented.

Just like a piece of jewelry, luxury watch requires an appraisal and a professional watch valuer can assess the true market value of your timepiece.

Why Do You Need A Jewelry Valuation?

There are numerous reasons for getting a jewelry valuation. Below we are mentioning a few of them:

  • To Know The True Value: Jewelry appraisal in NYC is required to know the true value of your precious item. An appraisal documents the accurate worth of your fine jewelry item. This document will be needed by your insurance company and it will come in handy at the time of claim.
  • Validates Your Ownership: Whether you own a fine jewelry piece or a luxury watch, a qualified jewelry or watch valuer can validate your ownership. If you have purchased a valuable piece or you have received it as a heirloom, an appraisal is essential.
  • Cost Effective Way To Secure Your Valuable Jewelry: Jewelry appraisal is a cost effective way to ensure that your valuable jewelry items remain secure. For appraisal, you just have to pay a small amount but then you can rest assured that you are not underinsured and at the time of claim, you get what you deserve.
  • Proper Documentation and Design Details: An appraisal is needed to properly document all details about the jewelry item. If any untoward incident like loss or damage happens, this description, along with pictures of the piece can be used to get or craft a replacement. This document will help your jewelry designer to create a similar piece close to the original one. To be prepared for theft or damage, it is recommended to get insurance.
  • Evaluation Of The Piece: When you get an appraisal, the valuer evaluates the piece completely. If by any chance, your coveted piece is damaged, say it has any loose prong or missing stone, the appraiser will notice it. You can get it repaired in time and ensure the safety of your precious item.
  • For Insurance: Your insurance company will need an appraisal document before insuring your jewelry. The true market value of your jewelry will be needed to get an insurance quote. If you do not have a professional appraisal certificate, you might be at risk of being under-insured. It means that at the time of claim, you will not be paid the true value of your piece. On the contrary, if the appraisal shows an inflated value, you might overpay for insurance.

Who Can Appraise Your Jewelry?

The appraiser you choose should be able to appraise contemporary, vintage and antique jewelry. Different eras have different jewelry styles and features. You can get your jewelry appraised by a professional appraisal company like Prestige Valuations. They have expertise in luxury watches, handbags and jewelry appraisal. They have a team of certified GIA gemologists, along with skilled handbags and watch valuer. You can get your valuables appraised online from the comfort of your home.

Hope, after reading the article, you now know the importance of appraisals. A jewelry appraisal document provides the fair market value of your piece and includes other essential details. As jewelry is a significant investment, having it properly documented is crucial.

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