5 Key Points to Consider about your Jewelry Appraisal
Whether jewelry appraisal is a new interest to you or it’s time to cash in on some old memories, we think it’s only fair for you to walk into this with some expert knowledge. When considering an appraiser you need to ask yourself this question, ‘how useful is my jewelry appraisal?’.
1 – What is the purpose of the appraisal?
For example, is it for insurance, a simple record of the item you’ve purchased or a professional technical opinion on some jewelry you may have inherited?
2 – How old is the appraisal?
Of course this should reflect the “ups” and “downs” of gold over time, however, for diamonds the size/cut/colour/clarity haven’t seen the massive fluctuations experienced with gold. What does this mean? A good diamond is a good diamond! Unfortunately lower quality diamonds don’t withstand the test of time that well, especially if they’ve been set in a cool 1980’s setting that isn’t so cool anymore!
3 – Key components of your appraisal.
It will encompass; 1) gold value (and/or other precious metals) 2) diamond value(s) and the 3) design or setting value.
4 – Does your appraisal suit you needs?
With that in mind make sure that your jewelry appraisal suits YOUR needs! Avoid what I call “over-appraisal” based on the emotion of an exciting purchase/inheritance. A classic example would be paying $7500 for a ring that was reduced from a retail price of $11,000 that was appraised for $14,500. We all appreciate a good deal/sale but what “value” does the appraisal price reflect?? Another example could include the fact that the jewelry piece really only has gold/diamond value simply because the setting/craftsmanship is dated/out of style or simply worn out.
5 – Does your appraisal provide you with technical information on your jewelry?
In summary the appraisal should provide some technical info on the jewelry piece that can be used to establish value. The big variable is that “value” has both a quantitative component as well as a subjective component. Both of which are important independently as well as a whole.
If you have any questions on jewelry appraisal, let us know! Plus, AZ Pawn always offers complimentary, no obligation appraisals. Come in and make an appointment with Jeremy or fill in the form here: AZ Pawn Web Appraisal