Why Appraisals are So Important

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Since jewelry insurance premiums (the amount you pay annually to maintain your coverage) are typically based on the value of the jewelry, what would happen if that value was incorrect?

If your ring’s value was overinflated, you could spend more than necessary to insure your piece. Or, the reverse could mean you’re underinsured and may incur additional out-of-pocket expenses to repair or replace jewelry that becomes damaged or lost. Insuring your jewelry for its current retail replacement value is vital to repair or replacement.

You're not required to insure your ring like you are with your car. So if you're going to make the (smart) choice to invest time and money into ring insurance, make sure it's for the right amount by getting a quality appraisal.

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R.W. Diamond Broker offers excellent appraisals done by Graduate Gemologists (G.G.), which is long regarded as the jewelry industry’s most prestigious academic credential. Graduates from the Gemological Institute of America (GIA) are awarded this degree after completing extensive required courses, laboratory training, and exams. This world-renowned program provides jewelry appraisers with the science and technical knowledge needed to deal in the entire spectrum of diamonds and colored stones.

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Professional jewelry appraisals include the following:

• A detailed description of each item

• Enlarged digital photograph of each item printed on the document

• Metal content determination

• Gemstone identification, grading, measurement, and weight calculation/estimation

• Verification of gemological laboratory reports whenever possible

• Fully researched valuation at the appropriate market level

• Identification of designer or manufacturer whenever possible

A proper appraisal takes time. They cannot be done while you wait.