There are certain things in life that we just don’t think much about until we really need them.
- We make dinner for our family, then realize that we’re out of the key ingredient that we always have in our pantry.
- We get a flat tire, then get frustrated because we never made time to replace the spare in our trunk.
- We go to a county fair, but forget sunscreen, and that it’s cash only.
- We host a graduation party outside, but neglect to get clips for the tablecloths, which proceed to blow around our yard.
Like tablecloth clips and spare tires, jewelry appraisals are one of those things that we don’t think about or put much intention behind until we really need them. For many of us, we have at least one piece of jewelry that is really important to us; one that we truly cherish and wear often. We put that piece of jewelry on in the morning as a part of our daily routine and take for granted that we still have it and that it’s in good condition. We don’t often think about the need for a jewelry appraisal until that piece goes missing, or we suddenly realize that a diamond fell out.
What Is A Jewelry Appraisal?
A jewelry appraisal – or, as we prefer to call them at J. F. Kruse Jewelers, a “Statement of Replacement Cost,” – is a document produced by an unbiased certified jewelry professional that contains an evaluation and dollar value for a piece of jewelry. A quality appraisal will contain a photo and description of the piece, the carat weight and grading of all diamonds and gemstones, and an accurate and ethical dollar value that you would expect to pay if you had to replace that piece of jewelry today.
Why Do I Need A Jewelry Appraisal?
There are many reasons why someone might need their jewelry appraised. The most common instance is when adding a piece of jewelry to an insurance policy. When purchasing an engagement ring, for instance, it is a good idea to get your jewelry appraisal to your insurance agent and add that piece to your homeowner’s or renter’s policy. The cost to insure jewelry is very affordable – generally, about $10 per year for every $1,000 of value. Jewelry is valuable, but not indestructible, and it can be lost, stolen, or damaged; having insurance coverage helps protect this valuable asset that you will be wearing every day.
Sometimes, people need a jewelry appraisal to simply validate what they own. Perhaps they are looking to gift a piece of jewelry to a family member, or they are curious about a piece that was passed down through their family that doesn’t have any documentation. Having a jewelry appraisal done by an unbiased, certified jewelry professional will help communicate the quality and value of a piece to future generations.
It is also very common – and important – to have a jewelry appraisal done when selling a piece of jewelry, either to a private party or as a part of an estate. Jewelry appraisals provide clear, ethical, and unbiased information to everyone involved, which adds a tremendous amount of trust and efficiency to a potential sale. It is also important to ask questions and get advice from a jewelry professional when selling your jewelry. For instance, insurance appraisals will value jewelry at its retail replacement value, not at its resale/gently used value, which can often be substantially less than retail replacement value. A good appraiser will be able to guide you and provide you with solid information.
How Much Do Jewelry Appraisals Cost?
At J. F. Kruse Jewelers, we provide an appraisal on every piece of jewelry we sell at no charge to our customers. We also update our jewelry appraisals for absolutely free for the life of the piece. For instance, if you change insurance companies, or your insurance agent asks you for an updated value, we reassess and update the value listed the appraisal and provide it to you for free, for life.
We also provide appraisals on pieces of jewelry that weren’t purchased from our store. While appraisal costs can vary, they generally start at about $150 per item, and we provide free updates on every appraisal for the life of the piece. The fee for an appraisal is dependent upon the complexity of the piece of jewelry, as well as the quantity of diamonds and gemstones it contains. We also give quantity discounts for appraising multiple pieces of jewelry.
Schedule Your Jewelry Appraisal
Life is busy, and a jewelry appraisal may not be something you take the time to consider very often. We highly recommend having one in your possession for any valuable pieces of jewelry you own. Our non-commissioned and highly-trained team of Graduate Gemologists (G.I.A.) at J. F. Kruse would be honored to look at your jewelry, guide you through the appraisal process, and answer any questions you have.
Your jewelry is personal and precious to you. Let our team at J. F. Kruse Jewelers help you ensure that your most-cherished items are evaluated accurately and protected for a lifetime.