Jewelry is a common gift for many occasions. Whether you are giving jewelry to your significant other, your mother, or even a friend, it can be hard to know what they will like and want. That is why an appraised value of the item you are giving them is so important! Jewelry appraisal services provide more than just an idea of how much something costs; they also tell you if the piece has any historical significance. This blog post will discuss three times when you should have your jewelry appraised.
1. You Want to Insure It
If you are trying to decide whether or not to insure your jewelry, having it appraised is the first step. Having your jewelry appraised is such a great idea is because it allows you to have full insurance coverage on an item of value. A jeweler’s appraisal will give the specific details of the piece you are trying to insure. Having an appraisal done will provide you with a better idea of how much your item is worth and how much it would cost if something were to happen to it, and also allow your insurance company to know what they should be covering in case of anything.
2. You are Selling It
If you are trying to sell your jewelry, having an appraisal done is the best way to get a good idea of what value your piece has. If someone were to approach you about buying your item, they would most likely request the appraised value of the piece before making an offer. Having that information ready for them can be advantageous because you will know if they are making you a fair offer and the actual market value for your item. This can also help the buyers because if something happens to the piece, they can go back to the person who sold it and have them replace it or get it fixed.
3. You are Buying or Selling an Estate Collection
Having your jewelry appraised is extremely important when buying or selling estate collections of any kind because it protects both parties involved. A jeweler’s appraisal will protect the buyer because they understand that the items have a certain value and will be refunded if anything happens to them.
It is also essential for the seller because it protects them from being taken advantage of by a buyer who may try to give a low price. No matter what reason you need an appraisal, having one done before selling, giving, or insuring it can make a significant difference.
There are many other reasons to have your jewelry appraised, but these are the most notable. Appraisals help protect both parties, you and the person receiving it because it provides both an idea of their current resale value and what the piece is actually worth. It will also be important if anything were to happen to them or they want to insure the item. Always remember to have a reputable jeweler do your appraisal and that you should always receive a copy of it!
