Do jewelers do free appraisals?
Often, a local jeweler, gold or diamond exchange or pawn shop near you will provide an appraisal for free, especially if you are a regular customer. Keep in mind that an appraisal is often inflated above what you might pay for the same item at a jewelry store, but can be useful for insurance or tax purposes.
What should a jewelry appraisal include?
Details Insurers Look for on a Ring Appraisal
- Description of the ring.
- Type of metal the stone is set in.
- Stone information – think 4 C’s: cut, color, clarity and carat weight.
- Side stone information.
- Value of the jewelry.
How long does it take to do a jewelry appraisal?
about 7-10 days
There are many factors that determine how long it will take to get your jewelry appraised. In general, it takes about 7-10 days to get a proper appraisal. The jeweler or appraiser needs to do quite a few things before creating the appraisal document.
Can you trust jewelry appraisal?
Because an appraisal doesn’t reflect the actual value of your diamond ring, you need to be realistic about what to expect when you sell or trade-in your stone. You may be surprised at how little you receive in comparison with your appraisal. Your appraisal is not a good indicator of what you’ll get for a resale price.
Does Kay Jewelers appraise jewelry?
Every diamond and fine jewelry purchase at Kay’s Fine Jewelry (above $1000) comes with a certified lab appraisal for insurance and evaluation purposes. Your appraisal will include a detailed description of your specific purchase, including carat weights and estimated replacement value in U.S. dollars.
How do jewelry appraisals work?
A jewelry appraisal may cost around $100 or a percentage of the value of the item, and it will not add value to your jewelry. What it will give you is more detail about the item itself, such as estimated weight, color and clarity of the diamonds. This information will enable you to obtain a price range for your stone.
How often should I get my jewelry appraised?
To have the most accurate value, it’s important to get it appraised about every three to five years. Additionally, if your appraisal is for insurance purposes, the insurance company may require you to update your appraisal periodically.
How often should jewelry be appraised for insurance?
As previously mentioned, jewelry values fluctuate. To have the most accurate value, it’s important to get it appraised about every three to five years. Additionally, if your appraisal is for insurance purposes, the insurance company may require you to update your appraisal periodically.