Jewelry Appraisals: What You Need to Know

Learn the different types of jewellery appraisals, and when to get one.

According to Cynthia Findlay Antiques, one of the most common problems buyers run into when dealing with individual sellers is the piece appraising for a fraction of what the buyer paid for it. Knowing the value of a piece is crucial to paying a fair market value for it, and it will come in handy later for insurance purposes. Here is a quick guide designed to illustrate which kind of appraisal you’ll need, as they are not interchangeable.

Appraise for Value

What would happen if you wanted to donate a family heirloom to charity? It would be quite generous, but how would you value such a donation? Antique engagement rings should be appraised for their true value. If you buy from a reputable dealer, you’re likely to find an appraisal with the bill of sale. You should get an additional appraisal once the ring is in your possession and fully paid for.

It’s best to do this without compulsion to sell, as you have plenty of time to get second opinions if you feel you need them.

Appraise for Insurance

You never want to deal with losing a ring in a fire or accident, but these things happen. Especially when you’re dealing with vintage jewellery, like art deco rings. The more delicate the metal or the stone, the easier it is to damage.

Insurance appraisals are the most common, and they protect you from the loss. If you’re wearing vintage rings, there is a good chance you won’t find the same piece twice. However, the money you recoup could go a long way toward replacing the sentiment.

Appraising for Probate

Occasionally, you run into situations where you need to provide collateral on a loan, or an appraisal to determine the full value of an estate. These situations call for a probate appraisal, which is important for determining the price of items the seller needs to unload in a time-sensitive nature.

Depending on time, and what you intend to do with your vintage engagement rings, you have several appraisal options. Just be sure you choose the one that fits your aims.