What is a jewelry appraisal, and why do i need one?

A jewelry appraisal is a formal document in your name. It can be used for both proof of ownership and actual value for insurance purposes; for sale, gifting or bequeathing for others; or for tax-deductible donations, estate planning and other purposes.

Professional appraisals are accepted by all insurance companies, and not having one could leave you at a disadvantage in reimbursement if your jewelry is ever lost or stolen. Below, you will learn more about what makes an appraisal professional.

Who is qualified to perform a jewelry appraisal?

Those trained to perform jewelry appraisals don’t just make up numbers on the spot. They must have a number of years of experience in the industry in order to understand the true value of fine jewelry. On top of that, many are USPAP (Uniform Standards of Professional Appraisal Practice) compliant, which requires them to adhere to the strictest standards of their specific industry. Standards include pricing of the jewelry, as well as ethical considerations.

As a fine jewelry appraiser, I have over 35 years of experience in the industry. I was first trained at the GIA (Gemological Institute of America), and am now both USPAP compliant and a member of the NAJA (National Association of Jewelry Appraisers).

What is the role of a gemologist in the appraisal process?

A gemologist can look at a piece of fine jewelry and determine several characteristics, including whether the piece is real or costume and such specific qualities as the size and weight of each gemstone.

The grading process provides detailed information on carat weight, color, clarity and cut of the precious gemstone. Only then can a true valuation be made.

Where can I get my jewelry appraised?

The best and first thing to do is to reach out to the NAJA or the AAA (Appraisers Association of America). The AAA has a search tool that allows you to search by keyword, location and specialization.

*Appraisers Association of America Find an Appraiser Tool*

Since everything must be done in person, it is better to work with an appraiser near you. It is more convenient to have someone local meet you at your home, office or vault to appraise your jewelry.

What should I expect during a jewelry appraisal appointment?

During a fine jewelry appraisal, expect the appraiser to bring all of their tools of the trade. That includes various scales, diamond testers, gold testers, loupe, tweezers, cleaning tools (toothbrush, alcohol pads, rubbing alcohol, soap); felt backdrops for photography; and if need be, a light source depending on the location.

The process can be broken down into a simple flow:

Initial consultation, completed via email, text or phone call
In-person examination, grading, measuring, evaluation and informal documentation either in your home, office or vault
Formal documentation and research following the in-person visit, completed in my office
Finalization of your appraisal, including an enumerated spreadsheet containing:
1. Your name and address for insurance purposes
2. Item name
3. Item descriptions with precious gemstone specifications, metal types, brand names, manufacturing details, and any specific details regarding the piece (such as cracks or abrasions in the gemstones)
4. Photos of each item
5. Appraised values
6. Signature of the appraiser and formal notice
Appraisal sent to you via email or text as a PDF file
Follow up and invoice completion

This process varies in time, based on the estate size and complexity of the collection. Typically, I can evaluate three to five pieces per hour.

You can read testimonials from my clients detailing their experiences.

*Example of an appraisal document, excluding top portion with name and address for privacy*

How do I know if my appraiser is legitimate and trustworthy?

As mentioned above, experience in the industry is paramount. An appraiser should be further along in their career. From manufacturing to colored stone grading, every step of the process takes time to fully understand and appreciate. I recommend at least a decade of experience, but generally, the more the better.

Along with experience, look for credentials like those mentioned above, a transparent process (similar to mine mentioned above), formal documentation/written reports, and a clear understanding of how insurance is needed when owning fine jewelry. This will help you connect with a trusted appraiser.

TIP: The best time to insure your fine jewelry was yesterday. The second best time is today. We all hope our fine jewelry is never lost or stolen. Yet it can happen. Make sure your estate is appraised and insured beforehand.

Contact me with any questions.

~ Jane

(212) 923-3328 | jane@jbjewels.com

JB Jewels | Fine Jewelry Redefined