What are the different types of jewelry appraisals?

Retail Replacement Value
Value of an item of equal quality and kind if purchased in the retail market. Used for:

  • Insurance appraisals
  • Damage report (changed value due to re-cutting a damaged or broken stone)

Fair Market Value
Price at which an item would change hands with a willing buyer and a willing seller without either party being forced into the transaction. Establishes tax liability and equitable distribution for:

  • Estate or probate
  • Pre-nuptial or divorce settlement
  • Conservatorship or guardianship (used when an individual becomes incapacitated)
  • Casualty Loss (used to claim a tax deduction)
  • Collateral Loss (for obtaining a loan or other business purpose)
Why is a jewelry appraisal so important?

Insurance Protection
Appraising your jewelry will safeguard your investment if it ever becomes lost or stolen. If replacement or settlement becomes necessary, the accuracy and detail included in a GRI appraisal makes it possible to identify your jewelry items or to have exact duplicates recreated.

A comprehensive written appraisal is accepted as proper identification by most authorities. A valid appraisal is particularly important in proving your claim on lost or stolen jewelry, or proving ownership if traveling to a foreign country.

Inflation Protection
A current and objective appraisal will indicate the market value of your jewelry item.
This valuable information can be used to determine if your jewelry is adequately insured and will take the guess work out of calculating insurance coverage and premiums

Who should appraise your jewelry?

Appraisals must be performed by a competent and experienced jewelry professional, preferably a Graduate Gemologist of the Gemological Institute of America (GIA).
The most reliable appraisal is a written opinion based on knowledge gained through education and special training, backed by experience, skill and a strong awareness of current market values. All of the appraisers at Gemological Resources are GIA Graduate Gemologists. We use state-of-the-art laboratory instruments to examine and evaluate diamonds, gemstones, watches, pearls, precious metals and other jewelry items. In most cases, we can appraise your item while you watch – no need to leave your jewelry!

What should you expect in a jewelry appraisal?

A professional qualified appraiser will provide a detailed written statement, independently and impartially prepared, describing an opinion on the authenticity and value of the jewelry item including the metal, design and stones. A thorough appraisal includes physical documentation, especially color photographs. An appraiser will also point out any needed repairs to your jewelry items on the appraisal. GRI professionally cleans your jewelry item prior to examination to insure the most accurate grading and value.

Each stone is checked to determine if it is natural, synthetic, imitation or enhanced. The diamonds and gemstones are graded for cut, color, clarity and carat weight.
All jewelry is evaluated for its metal content, quality of workmanship, design and period of style. Each GRI appraisal comes with a detailed description and full-color digital photograph to clearly identify your jewelry. This information is especially important if your item is ever lost or stolen.

When should you appraise your jewelry?

Any jewelry which has never been appraised should be appraised to assure proper coverage for replacement in case of loss or theft. Also when new jewelry is purchased, you should procure an accurate appraisal right away. Because values change, it’s best to have your investments re-appraised every three to five years

How should you prepare for your jewelry appraisal?

To insure an accurate assessment of your jewelry, bring any documentation you have on your jewelry items to the appraisal appointment. Be sure to include sales receipts, diamond or gemstone lab certificates, warranties, old appraisals or insurance summaries, and any documentation that details factual information regarding the history or provenance of your jewelry item.