Appraisals

There are many types of appraisals. The most common of them is the Insurance Replacement Appraisal. This is one that is performed for insurance companies to give them the replacement value of the jewelry incase it is lost or stolen. An accurate value is very important. If the jewelry is under valued you would not be fully covered if you had to use your policy. If the jewelry is over valued you will pay a higher premium for your policy unnecessarily.

Appraisals that are done for purposes other than Insurance Replacement, such as Estate, Divorce, Collateral, or Liquidation, are treated differently as far as the value they are given. The value must reflect the situation and list the actual value the customer will or should receive if they are in the actual situation. Ex. If you are selling your jewelry because you need the money quickly, the appraisal needs to state the amount you should receive for that ring considering your situation and the available outlets to sell it quickly.

• It is important to use a reputable appraiser that is a Graduate Gemologist and has experience and/or has credentials in this area.

Certificate

A certificate differs from an appraisal in that it is usually a certificate stating the quality and authenticity of your diamond or gemstone. Diamonds having a certificate from a reputable laboratory such as GIA or EGL will generally command a premium. Certificates are very helpful in identifying the key characteristics of your stone. A certificate does not automatically ensure that the diamond is beautiful or of high quality, that depends on the combined information that the certificate conveys.

• If you have or develop a trust and friendship with your local jeweler they can ensure that all the factors mentioned come together to get you the best diamond or gemstone for your money.

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