Things to Know Before Getting a Jewelry Appraisal

Posted by Ajay Garg on November 1st, 2022

Jewelry appraisals are necessary for a variety of reasons. Whether you're looking to insure your collection, want to know the value for tax purposes, or are considering selling, getting an appraisal from a qualified jewelry professional is important. Here are a few things to keep in mind before getting your jewels appraised. 

Know the Different Types of Jewelry Appraisals 

There are many different jewelry appraisal services in Wellington offered by companies, but not all of them are created equal. Before getting a jewelry appraisal in Wellington, it's important to understand the different types available. The most common type is the replacement value appraisal. It is typically used for insurance purposes and assesses the cost of replacing your jewelry if it is lost, stolen, or damaged. If you are trying to sell your jewelry, you will need a fair market value appraisal. This type of appraisal considers factors such as the current market conditions, the rarity of the piece, and any sentimental value attached to it. A reliable appraisal service in Wellington will be able to provide you with an accurate assessment of your jewelry's fair market value. 

Know Details of the Appraisal Report 

It is essential to know what the appraisal report will contain before getting the jewelry appraisal in Wellington. A reliable appraisal service in Wellington will have a jewelry appraisal report containing the name and contact information of both the appraiser and the client, the date of the appraisal, a description of the jewelry regarding its weight, measurements, color grade, and any gemstones or identifying marks. The appraiser should also provide an estimate of the jewelry's value. The report should be able to provide information on the piece's history, if available. Finally, there should be a detailed statement from the appraiser and a photograph of the item. 

Know the Cost of Appraisal Services 

Before going for an appraisal service in Wellington, understand the cost of the appraisal. There is a range in price depending on the appraisal company you use as well as the type of appraisal you need. For example, a simple appraisal for insurance purposes may cost less than an appraisal for estate tax reasons. There are also companies that charge per hour. Others charge a flat for the same service. If your jewelry is particularly valuable or complex, the appraisal may take longer and cost more. It's also important to keep in mind that many appraisal services have a minimum fee, so be sure to ask about this before you schedule your appointment. 

Know the Qualifications and Experience of the Appraiser 

It’s important to know what to look for in an appraiser if you are considering an appraisal service in Wellington. First, you want to make sure that the appraiser is experienced and reputable. Look for someone who has been in the business for several years and has a good reputation with other jewelers. Secondly, you should be certain that the appraiser is certified by a professional organization such as the National Association of Jewelry Appraisers (NAJA). This will ensure that the appraisal is accurate and that you are getting the correct amount for your jewelry. Lastly, check out clients' online reviews about their services on social platforms.

It’s important to do your research and go into the jewelry appraisal process prepared. With these tips in mind, you will know that you are getting an accurate appraisal of your beautiful jewelry piece. Contact Designer's Touch Jewelry today to schedule an appointment.