Jewelry Appraisal Forms for Suffolk
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FAQ
Each piece of jewelry you purchase should be accompanied by a written appraisal that:describes all characteristics of the piece, including weights, grades, and measurements;states any treatments given the gem that are not part of the usual processing of this type of gemstone, or states that the gem is untreated;More items...
What is a jewelry appraisal? An appraisal is more than just a receipt for your piece; it is a detailed document of what the jewelry is to determine its monetary value. For example, a diamond ring appraisal will include a description of the ring, gemstone information, and much more.
The truth is that a diamond's resale value is based on its immutable characteristics, and the demand for those attributes at a given time. Therefore, getting a ring appraised by a certified appraiser does not reflect the true resale value of the item.
Common types of appraisals include:Insurance Appraisals / Retail Replacement Value Appraisals.Estate Appraisals.Charitable Donation Appraisals.Fair Market Value Appraisals / Financial Planning.
Costs can range from about $50 to $75 per item, or $50 to $150 or more per hour, depending on the appraisal's items. And given that the prices of precious metals tend to fluctuate dramatically, appraisals should be carried out every few years to keep your insurance coverage up to date.
As previously mentioned, jewelry values fluctuate. To have the most accurate value, it's important to get it appraised about every three to five years. Additionally, if your appraisal is for insurance purposes, the insurance company may require you to update your appraisal periodically.