What to Expect From an Estate Jewelry Appraisal
Are you considering having an estate jewelry appraisal done? If so, you're probably wondering what this process is like or what it’s even for.
It can be a little confusing if you don’t have prior knowledge or experience in getting an appraisal. What's included? What am I supposed to do during an appraisal? Is it even worth getting an appraisal in the first place? Where do I find a professional appraiser?
Don’t worry! I’ll answer all these questions and help you understand all the essential information you need to know before getting a jewelry appraisal.
With that, let’s get started!
Estate Jewelry Appraisal: An Overview
Before anything else, I'll first briefly go over the appraisal process. When a family member passes away or when assets are divided, some of the things they leave behind and hand down could include pieces of jewelry. This valuable jewelry is what we call "estate jewelry."
Estate jewelry appraisal is an important part of the jewelry industry, and one that prospective buyers should be aware of before investing. Here, a professional jewelry appraiser like me examines the heirloom jewelry item to determine its monetary value.
Is it worth getting the jewelry appraised?
Yes, it's definitely worth getting your jewelry pieces appraised in general. Think about it: you have a piece of high-end jewelry made of precious metal, and you're planning to sell it or have it insured. Before doing that, you should first understand the details about the quality of the piece, metal type details, and measurements, among others, to determine the fair price. There's no accurate way to determine all these unless you get your jewelry appraised.
Why You Should Get Estate Jewelry Appraised
It’s worth the appraisal cost
It might seem like it's not worth paying extra, but the rewards you get from appraising your jewelry pieces greatly outweigh this. As I've mentioned, a professional jewelry appraisal allows you to find out the value of your inherited jewelry pieces. With a firm understanding on the estate value of your jewelry items, your family can equitably divide the jewelry amongst the family members minimizing the risk of infighting amongst the intended heirs. Comparing this value with the appraisal cost, you're definitely getting your money's worth.
It provides more information about your jewelry
Appraising estate jewelry is an important step in the process of buying or selling a piece of jewelry. Doing so provides you with detailed information about the item, including its potential worth and any historical significance it may have. By getting an appraisal for your estate jewelry, you can make sure that you are able to maximize potential profits from buying or selling the item, as well as identify any unique qualities which could add value to the piece.
It helps avoid problems in the long-run
A correct appraisal should contain information on the diamonds and/or gemstones in your jewelry items. Even the technical description of your jewelry such as weight, ring size, length, kind of chain, kind of setting, measurement of each component of your jewelry, and other information that best describes the jewelry items being appraised are indicated in your appraisal report, be it for insurance or estate purposes. Whilst the appraisal report is not proof of ownership, the report can be an added evidence as proof to your legal claims, criminal or otherwise.
Appraisal for Jewelry: Things to Expect
First, prepare your jewelry
Preparing your jewelry is essential before an appraisal and can greatly influence the accuracy of the appraisal. Having it professionally cleaned can help to ensure the quality of the appraisal by providing an accurate evaluation of the item's condition. Professional cleaning will remove dirt and grime from invisible areas such as between prongs, settings, and stones which can accumulate over time due to natural oils in our skin or exposure to everyday elements.
If you ever came unprepared, you can have your appraiser clean the jewelry for you but there might be a separate cost for it.
Next, know the purpose of your appraisal
A clear understanding of your purpose will ensure that you get an appraisal that meets your needs and expectations. The most common purposes for obtaining a jewelry appraisal include insurance, replacement, resale value assessment, purchase evaluation, estate taxes determination, probate settlement interpretation and donation valuation.
Depending on which objective you select for your jewelry appraisal, the level of detail included in the report will be different. Therefore it is important to make sure you fully understand what kind of information you need from us when seeking an appraisal service so they can provide a detailed assessment tailored to meet those requirements.
Next, the appraisal process begins
You can expect a professional jewelry appraisal process to be conducted. We'll inspect the jewelry, prepare an appraisal document, and assign a value to this piece of jewelry.
We can tell you about our methods and tools, the correct value standards, and other information about the process and your estate jewelry. If something needs to be clarified, feel free to ask!
Get the appraisal document
Once a value has been assigned, you'll get the appraisal document that contains the necessary details about your jewelry and the appraisal, such as your details, the appraisal type, a complete description of the jewelry, the appraised value, and a signature, among others.
Estate Jewelry Appraisal FAQs
How long does it take for jewelry to be appraised?
It depends on the jewelry that you're appraising. Some might take less than an hour, while others take days or weeks. For example, more intricate vintage jewelry would need further research and take more time to inspect and appraise.
What do appraisers look for in jewelry?
Appraisals will look at different aspects of jewelry, including its design, weight, condition/quality, characteristics of gemstones, setting, and measurements.
How do I find a reputable jewelry appraiser?
To find a trustworthy jewelry appraiser, you need to consider the following:
Credentials - A professional jewelry appraiser should be certified or recognized by a respected appraisal organization, like the National Association of Jewelry Appraisers (NAJA). You should also determine if the appraiser is a graduate gemologist, as this ensures that they've undergone the necessary training.
Appraisal experience - An experienced estate jewelry appraiser has years of experience and the necessary knowledge to prove that you can trust them and their work.
Awareness of ethical standards and legalities - Appraisers should be professional and adhere to set standards in the industry. In addition, it's recommended that you look into an appraiser's reputation and affiliations with respected organizations.
Reach out to Willyn Villarica Jewelry
And there you have it! These are all you need to know about an estate jewelry appraisal. So if you need an estate jewelry appraisal, send me a message at firstname.lastname@example.org or through Facebook (Willyn Villarica Jewelry) or Instagram (@willynvillarica_jewelry)! As one of the few certified gemologists in the Philippines, a graduate of the GIA Graduate Gemologist® program, and the only NAJA-recognized Filipino appraiser, you know you and your jewelry are in good hands with Willyn Villarica Jewelry.