Besides the desire to know what your jewelry’s value is, there is also a very practical reason to have all your jewelry appraised – insurance. If you are purchasing special insurance or a rider on your homeowner’s insurance to cover your jewelry, you will need to know how much it is worth to know how much insurance to purchase. Some insurance companies may also require a written appraisal documenting the jewelry’s value before they will provide the insurance. And of course, once it is insured, you would need documentation of its worth if you ever need to make a claim. At Cummings Jewelry Design, we provide detailed jewelry appraisals listing stone measurements, color grading, and carat weights. You are provided two copies of the appraisal, one for your records and one to forward to your insurance agent. This is provided for all jewelry that you purchase from us also.
And even if you have had your jewelry appraised in the past, it is a good idea to have a reappraisal completed every few years to make sure the value is current. Due to recent escalation of the prices of gold, platinum, and silver, jewelry appraised years ago may now be underinsured. And sometimes jewelry goes up in value over the years for other reasons as well, and you will want to make sure your investment is accurately covered. You might also want to have a piece reappraised as an extra thoughtful gesture if you are planning on giving it as a gift to someone in your immediate family. For example, if you decide to give one of your rings to your daughter, you may want to provide her with documentation of the ring’s value to make it easier for her to have it insured.
A careful appraisal takes all the elements of a piece into consideration. For a ring, for example, the jeweler would look at both the setting and the stone or stones. The type of metal used, purity of gold, platinum or silver, and weight of the precious metals all need to be considered. For stones, the cut, clarity, color and carat weight are evaluated. At Cummings Jewelry Design, we have the expertise to thoroughly assess your jewelry, and we can provide you with the peace of mind from knowing that you have received an expert professional appraisal.