If you’ve ever gotten a piece of jewelry that you loved and wanted to keep forever, you may have wondered what it was worth. Perhaps you’ve heard about the process of jewelry appraisal.
But now you might be thinking, what is the deal about getting jewelry appraised? Where do you even go about doing that? How much does it cost, and is it worth it? If you’ve ever had any of these questions, read on for this expert guide on jewelry appraisal.
Here, I’ll cover everything from the different purposes of an appraisal, where to get a jewelry appraisal, and tips on what to look out for when looking for an appraiser. So keep reading to get all the answers!
Why You Might Want to Get Your Jewelry Appraised
There are many reasons why you’d want to get your piece of jewelry appraised. These determine the types of jewelry appraisals you might consider. Usually, jewelry appraising serves insurance, liquidation, and tax purposes.
A common reason why people get appraisals is for insurance purposes. Usually, before getting jewelry insurance, an insurance company would require you to show an appraisal to determine the replacement value. So, for example, if a diamond engagement ring is insured, should this get lost or destroyed, you would know how much you would receive.
Besides an insurance appraisal, this can serve liquidation purposes as well. You can determine the liquidation value for your piece of jewelry, which would be helpful in cases like bankruptcy or business dissolution.
For resale opportunities, you need to get a fair market value appraisal of your piece of jewelry. Through an appraisal, you’d know the resale value estimate of your item on the current jewelry market.
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Things to Look For in a Jewelry Appraisal
After the appraisal process, you would get an appraisal report or document. According to the National Association of Jewelry Appraisers (NAJA), and in conformity with the Uniform Standards of Professional Appraisal Practice (USPAP), the report should contain the following pieces of information:
Appraisal and client information
The report should include basic information about the appraisal, including its date and purpose. It should also include information about you, including your name, address, and contact information.
Description and value of the jewelry being valued
You should also get a complete analysis and description of your valuable jewelry and the value of this item.
Limiting conditions/assumptions
In some cases, a professional jewelry appraiser might need to make some assumptions about a jewelry item. For example, an appraiser might have to make weight estimates. These conditions and assumptions must also be included.
Disclosure statements
These would contain details about the appraiser’s process, including their procedures and cost accounting.
Appraiser’s signature qualifications
A qualified jewelry appraiser must also sign the document and contain details about their credentials or qualifications. Their certification and range of jewelry experience can also be included.
Names of other people who might have assisted in the jewelry evaluation or appraisal process
Lastly, if the appraiser was assisted by other professionals during the appraisal process, their names should also be included in the document.
Once you receive the appraisal, I recommend you look for these details to ensure you’re getting the ultimate jewelry report.
Where to Get a Jewelry Appraisal
You can find reputable jewelers in your area, as they most likely offer appraisal services. Alternatively, you can find appraisers through their websites or social media pages.
What is the best way to get jewelry appraised?
When thinking of getting an appraisal service for insurance purposes, fundraising purposes, or whatever reason you might have, you’d want to ensure that the jewelry appraisal cost is worth it. With that, the best way to get your jewelry appraised is by looking for a reputable jewelry appraiser.
Professionals follow industry standards, so you’re certainly getting a rewarding jewelry appraisal experience.
How to Find a Reliable and Trustworthy Appraiser
The main concern among jewelry owners is how to ensure that they’re approaching an appraiser that they can trust. As a guide to jewelry appraisal, I suggest that you consider these tips:
Look at the appraiser’s professional and educational background
Jewelry appraisers should have the necessary training and knowledge about the appraisal industry and process. Therefore, it’s best to research the appraiser’s experience, certification, and education before you ask them for their appraisal services.
Search for appraisers through organizations or associations
A trustworthy appraiser is someone who major jewelry appraisal associations recognize. One of these associations is the National Association of Jewelry Appraisers (NAJA). On their website, you can quickly search for global appraisers they recognize. For example, if you search for appraisers in the Philippines, you’ll find my name as the only NAJA-recognized appraiser in the country.
Read more: Benefits of Getting an Appraisal from NAJA Appraisers
Determine if they’re adhering to industry standards
An appraiser should conform to the legal standards of the industry. For instance, an appraiser shouldn’t base their appraisal cost on a gemstone jewelry’s value. It’s also best to look into the equipment an appraiser uses. Some have gemological laboratories to ensure that they get an accurate appraisal of your jewelry item.
Related: Jewelry Appraisal Scams to Avoid in the Philippines
Expert Jewelry Appraisal at Willyn Villarica Jewelry
If you’re looking for expert jewelry appraisal services that you can trust, look no further than Willyn Villarica Jewelry. Willyn Villarica is your trusted partner for jewelry appraisal services, catering to clients around the globe. Our expertise and commitment to excellence ensure accurate and reliable assessments of your precious gemstones. It’s important to note that while we offer our services worldwide, clients are responsible for covering all travel expenses. Don’t miss out on the opportunity to have your diamonds expertly graded by Willyn Villarica.
Feel free to contact us via email at admin@willynvillaricajewelry.com for inquiries or to schedule appointments. You can also connect with us through our official Facebook (Willyn Villarica Jewelry) and Instagram (@willynvillarica_jewelry) accounts. If you require further assistance, we are also reachable directly at +63279497547.
