An appraisal documents your jewelry's value for insurance and resale. Learn what a proper appraisal includes and how to get one.
What Is a Jewelry Appraisal?
A jewelry appraisal is a professional document describing a piece in detail and assigning a monetary value. It's used for insurance coverage, estate planning, divorce proceedings, and resale reference. A proper appraisal costs $50-150 and takes 30-60 minutes.
Appraisal Components
TABLE:
| Element | Description |
|---|---|
| Description | Metal type, purity, weight; stone type, size, grade |
| Photographs | Multiple angles with scale reference |
| Value | Replacement value (retail), not resale value |
| Methodology | How value was determined (comparable sales) |
| Credentials | Appraiser's name, qualifications, signature |
| Date | Appraisal validity period (usually 1-2 years) |
Types of Value
Replacement value (what it would cost to replace today) is used for insurance. Fair market value (what it would sell for used) is used for estates and resale. These can differ significantly — a $1,000 ring might have a $1,000 replacement value but $300-500 fair market value.
Holycome's Documentation
Every bespoke piece comes with a detailed invoice and GRA certificate. For an additional $35, we provide a formal appraisal document suitable for insurance. We recommend updating appraisals every 2 years as metal and stone prices change.
Frequently Asked Questions
Do I need insurance for my jewelry?
Yes. Standard homeowners insurance may not cover full value or loss outside the home. A jewelry rider (floater) provides comprehensive coverage for $1-2 per $100 of value annually.
Can I use the receipt as an appraisal?
A receipt shows purchase price but isn't a formal appraisal. Insurance companies typically require a professional appraisal document.
Conclusion
Proper documentation protects your investment. Holycome provides detailed documentation and appraisals for every bespoke piece. Contact service@holycome.com to arrange an appraisal.
