The Purpose of Jewelry Appraisals
Jewelry appraisals can be done on just about any item of
jewelry and at Jones & Son we have vast experience in the field. The
piece can have gemstones with precious metal or precious metal only with no
gemstones. Gemstones that are loose are a disputed item. As a matter of fact
most insurance companies will not allow you to receive a legitimate insurance
policy on a loose diamond or gemstone unless it is mounted up in a piece of
jewelry.
Jewelry appraisals are also used in
order to settle an divorce, an estate, or to verify an item's true market value
before you commit to purchase the particular piece of jewelry.
The price on the appraisal is
determined based on market variables and market values. Over the years market
values and variable change such as the price of diamonds, gold, and platinum, so
every two to five years it is recommended to at least have your current
appraisals updated. If unsure about the acceptable timetable for your particular
insurance company contact your insurance agent for the companies recommendation.
By utilizing the same appraiser or appraisal service over the years it is
possible to get updates. Here at Jones & Son if you get updates it is much
less than a whole new appraisal rather than having to pay full price on the
updates in two to five years.
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