Appraisals
The types of appraisals you may need. Click on each to find out more:
1. Insurance Appraisals
2. Authentication/Identification (Gemological) Services
3. Estate/Trust Appraisals
Pricing:
New, first-time single document: $150 per appraisal/item
Updated document: $75 per appraisal/item
3 of more items: $250 per hour
Call 214-216-0940 to set up an appointment.
1. Insurance Appraisals
“What is my ring worth?”
"What should I insure my bracelet for?"
“When I have sold something in the past, why was I not paid the amount on the insurance appraisal document?”
An Insurance Appraisal is the most common document you need to provide an insurance company to protect your jewelry item(s) against loss and/or theft.
It is an independent and third party document compiled by a trained Graduate Gemologist for jewelry and/or watches for insurance purposes.This document can be done for brand new, pre-owned or inherited jewelry or watches that a client wants to insure.
What to expect in the appointment?
In the appointment with you, I go through your items and separate the real and fine jewelry from costume jewelry.
What are the most important takeaways of an Insurance Appraisal?
The most important point to note about a Insurance Appraisal is that is it a document of the jewelry or watch that states a retail-value replacement value, usually including tax (the tax amount will be State specific) provided to an insurance company. This document is used by the insurance companies to provide financial cover in an event of loss or left. This value is not what necessarily what the jewelry or watch is worth - meaning that this is not the price you would get if you wanted to sell the item today, for example. This cannot be emphasized enough.
How does the Insurance Company use the Insurance Appraisal?
The Insurance Appraisal is a document supplied to your insurance company from which they calculate your annual (or monthly) premium for coverage at retail replacement. You pay this, and if/when that one unfortunate day comes around and the insured item is stolen or lost, that you will get the full value of that specific item insured item. With the insurance payout, you would go to a retailer to replace the lost item with a new item. This also highlights why it is important to get your Appraisals updated every 3-5 years, as market/retail values do change.
2. Authentication/Identification (Gemological) Services
“I have just received/purchased this, is it what the accompanied document says it is?”
“Is this real?”
Today, more than ever before, the consumer is buying pre-owned jewelry and watches from online and brick and mortar consignment stores. And this industry is booming. These consignment stores are consigning their clients previously owned jewelry and watches. They internally evaluate these items for value and condition, as well as considering the current market conditions, sell the items on to new owners.
When the consumer makes a purchase from the consignment store, the item may or may not come a document of authentication. If you purchase does come with a document, particularly for jewelry, is not from the original manufacturer but by an inhouse specialist.
What to expect in the appointment?
As an independent third party, I authenticate your jewelry purchases. I do this by completing an Insurance Appraisal for you. This document is a detailed description of the jewelry that includes pictures and current retail replacement values. The result for the customer is that they then have a detailed third party document and item authentication for their insurance company of their valuable purchase.
3. Estate/Trust (Liquidation) Appraisals
This document is required for your estate and/or trust and is an appraisal document stating a liquidation value for the item. In other words, an estimated monetary value that can be achieved with an immediate sale in the market.
What to expect in the appointment?
In the appointment with you, I go through your items and separate the real and fine jewelry from costume jewelry.
What are the most important takeaways of an Estate Appraisal?
Estate Appraisals are compiled for brand new, pre-owned or inherited jewelry or watches to generate an estimate monetary value that can be immediately realised in the market.
It is an approximation of the minimum value of the item (all the components, i.e. the metal, diamonds and gemstones), and a value that can be realised on the open market at any time. Note, there could always be someone willing to offer more.
How does the Trust use the Estate Appraisal?
The Estate Appraisal is a document supplied to your trust from which they calculate and divide up jewelry and watch items between the nominated heirs in the respective trust.
The document provide the most realistic values for the jewelry and watches that can be used to compare and divide value amongst multiple heirs in a trust.
