Jewelry Appraisal
Appraisal Types, the Appraisal Process & What to Expect
Types of Appraisals
What is the Best Jewelry Appraisal?
The best jewelry appraisal for you depends on your specific need. How will you use the appraisal?
There are different "markets" that affect jewelry and diamond values. And the appraisal is different for each type of market or purpose.
We can provide reports and help establish value for a variety of purposes including insurance, estate, divorced property settlement, forced sale, non-forced sale, private sale, pawnshop market value, equitable distribution and more.
We will always help you determine which appraisal is best and appropriate for your situation.
Jewelry Appraisal for Insurance
The most common type of appraisal for your diamonds and fine jewelry is “Retail Replacement Value”, which values jewelry for the brand-new retail price for insurance replacements.
This type, performed by an impartial independent appraiser, serves to protect your full interest should you suffer a loss. It’s your proof of value should there arise a dispute between you and your insurer in reaching a claim settlement. It also ensures you don’t overpay for your insurance premium.
It is important to have this appraisal performed by a certified gemologist appraiser like us, because the detailed appraisal puts in writing an accurate systemized description of the quality of your jewelry and diamonds.
For insurance appraisals, jewelry and watches must be in good condition with no defects or major flaws other than minor wear or surface scratches.
Diamond Ring Appraisal
When determining the value of a diamond ring, the appraiser looks at its two main components, the diamond and the setting. The diamond may be graded while mounted or unmounted, and it will be valued according to its weight, cut, color and clarity according to established industry standards.
Other things we look at are measurements, enhancements, and any damage to the stone.
An appraisal can certainly be helpful when trying to sell a diamond, engagement ring, wedding ring, diamond necklace or bracelet, etc. Doing so will establish a fair value for the piece in this ever-changing market.
Estate Jewelry Appraisal
Estate jewelry generally refers to any pre-owned jewelry, including vintage and antique jewelry. However, an estate jewelry appraisal (or appraisal for probate following a death in the family) is used to evaluate the entire jewelry collection or individual pieces of an actual estate.
The object is to determine fair market value, which is an assessment of what a willing buyer and seller would agree to in a non-forced sale. For that reason, you can see that an estate appraisal is very different from an appraisal for insurance purposes.
You can learn more about estate jewelry appraisals by visiting this page.
The Process & What to Expect
Your Jewelry Appraisal - Prepared Professionally to the Highest Standards
HGL Certified Jewelry Appraisers own and operate an Independent Certified Gemological Laboratory in Las Vegas, Nevada. Your jewelry appraisal is performed according to the Uniform Standards of Professional Appraisal Practice (USPAP), the American Society of Appraisers, and other nationally-recognized accredited authorities.
Jewelry Appraisals While You Wait
We perform the examination and all necessary tests inside our secure and comfortable office lab while you watch. We will produce a written report that includes a full description and digital image. All appraised diamonds over half a carat include a plot.
In most cases (barring anything out of the ordinary), at the end of your appointment we will produce for you a beautiful, tailored report. You will walk away with your jewelry and the report in your hands, and we can also send a pdf file of the report directly to your email.
Please contact us to make your appointment. We schedule appraisals Monday through Friday between10 AM and 4 PM.
How Long Does a Jewelry Appraisal Take?
An appointment to appraise one or two standard items usually takes about one hour from the time you walk in to the time you leave with your report.
The Appraisal Process
1. Preliminary Consultation
When you arrive for your appointment, the first thing we do is consult with you to determine the intended use for your appraisal. As discussed above, the intended use for your particular case will determine the type of value and market we investigate.
To reiterate, the intended use for jewelry appraisals most often is to determine retail replacement value for insurance. However, your appraisal might just as well be needed for estate distribution, fair market value, liquidation, asset dissolution and many other uses, all of which dictate a different approach and valuation.
2. Clean, Identify, Measure & Document
During the appraisal we will clean your jewelry in our ultrasonic cleaner. We will then use state-of-the-art laboratory equipment to identify and document features, gemstones and quality of the items. This part of the process can take anywhere from 20 minutes to an hour depending on the complexity of the piece.
Each piece of jewelry is weighed, measured, and described in detail…
Gemstones are identified, graded, measured, and their weights calculated.
Metal content is determined.
All diamonds are described with weight, shape, color, clarity. In diamonds over 1/2 carat the internal characteristics of the diamond are diagramed (plotted) and further details regarding proportions are included.
Colored gemstones are described with weight, shape, color, clarity with further detail when appropriate.
Pearls are identified, graded and measured.
Watches are described with brand, model, movement, & metal, with further details when appropriate.
Your appraisal includes enlarged digital color photos of the items printed right in the report.
Photomicrographs (photos through the microscope) are available if needed for insurance claims, etc.
Your appraisal explains the grading systems used.
An explanation of the definition of value is included, along with instructions for the appropriate use of the appraisal document.
3. Research Value
After completing the identification and documenting the features, we begin researching value. Some items require more time than others to research, especially pieces that do not have a typical replacement value.
In-vault, Rush, or On-site Jewelry Appraisals
We provide appraisals at your location or bank vault when necessary or desired. We can also usually accommodate rush situations. Please visit our pricing page for the additional fees associated with these special services, or contact us for specific details.