What is a jewelry appraisal?
A jewelry appraisal (also known as a jewelry valuation) is a document you receive from a reputable jeweler that describes the item of jewelry being valued, and gives a value that the item should be insured for.
Why get your jewelry appraised?
While your jewelry has an emotional value, it also has a monetary value. Perhaps you inherited some jewelry, or received some jewelry as gifts from your loved ones, but you aren’t sure what their current value is. If you want to insure your jewelry, you need to know what they're worth.
On top of that, insurance companies recommend that jewelry appraisals are renewed every five to seven years as the prices of precious metals, diamonds and other gemstones change. You should also get a new appraisal if your item has been significantly altered.
If the item is lost, stolen or damaged, the insurance company will use this as proof of ownership and will look to replace the item at the value stated on the appraisal.
How does a jewelry appraisal work?
In an appraisal with EK Jewelers, a certified gemologist will inspect your jewelry, diamonds and gemstones. A jewelry appraisal with EK Jewelers will examine:
- Current competitive retail prices
- Identifying manufacturer's markings
- Quality and rarity of a gem
- The karatage for gold; the stamping of the percentage on platinum
- The metal and materials of prongs and mountings
- For diamonds and gemstones, the appraiser will evaluate the 4Cs (cut, color, clarity and carat weight)
If you have any documents that came with your jewelry, such as sales slips, diamond or gemstone grading reports and warranties, you are encouraged to bring them with you at the time of the appraisal.
Once the appraisal is complete, you will receive two detailed reports with statement of what your jewelry is worth, one for you and one for your insurance. EK Jewelers will also clean and polish your jewelry to look like new.
What does an appraisal cost with EK Jewelers?
At EK Jewelers, your first appraisal is $125; each additional appraisal is $75 each time.
Get Your Jewelry Appraised Today!
Need a jewelry appraisal or have questions? Contact EK Jewelers today at 307.363.4010 or 307.660.9174 or yourelegantkreations@gmail.com, or stop by to visit us at our downtown Gillette location, 304 S. Gillette Avenue.