Jewelry appraisal is an important service, enabling jewelry owners to properly insure their valuables, determine their worth as collateral for loans, and more. Not all appraisal experiences are equal, however, so it’s important to arm yourself with a few tips before you begin. Here are four things that you need to know about getting your jewelry appraised before you start looking for a jewelry appraiser:
1.) Not All Diamonds Are The Same
Size isn’t the only consideration when valuing a diamond or precious stone – the cut, clarity, and color also factor in to the overall worth of your piece. Generally, the less inclusions – specs or “dirt” imbedded in your stone – the better. For diamonds, the closer to true white your stone’s color appears, the more valuable it will be.
2.) The Purity of Your Setting Matters
The closer to 24 karat “pure” gold, the more valuable your setting, chain, or band will be. For gold purities less than 24 karats, the price will lower accordingly. If your piece is stamped GE (gold electroplate) or GP (gold plated) rather than 10k, 12k, 14k, 20k, or 24k, that means it is not solid gold of any purity, and likely won’t affect your appraisal price.
3.) Your Piece May Have Multiple Stones
Even smaller chips or tiny stones along the setting add value to your piece of jewelry, so make sure they’re counted. Unless a setting is particularly rare, unusual, or sought after by collectors, these stones will likely be removed and valued with the main stone in the event your jewelry is sold.
4.) Your Actual, Achieved Price Will Vary
If you were to sell your jewelry after it’s been appraised, you shouldn’t expect to get appraisal price for it. That number is used for applications like insurance, to determine replacement value if your piece is stolen or damaged. If you’re selling to a jewelry buying establishment or site, bear in mind that their profit margin will take a bite out of your final price. Jewelry buyers will, however, often offer a higher amount if the jewelry is being “traded in” as partial payment for a new piece of jewelry in their inventory.