Fair Market Value Appraisal
A Fair Market Value appraisal gives you an estimate of what you would receive if you sold your jewelry. It takes into account the condition of the jewelry, and is meant to give the seller a feel for how much they could get from a willing buyer. This amount will be lower than a Replacement Value Appraisal.
Jewelry And Diamond Appraisals
The American Gem Society is dedicated to building trust and confidence with the jewelry-buying public. With that in mind, American Gem Society members aim to provide their customers with the very best service and information available in appraising diamonds and gemstones.
Independent Certified Gemologist Appraisers and Certified Gemologist Appraisers of the American Gem Society possess the necessary skills and experience to render valuation reports for your jewelry items. They have been educated in both gemology and the methodologies of jewelry and diamond appraisals.
The American Gem Societys Certified Gemologist® Appraiser and Independent Certified Gemologist® Appraiser title is the most highly regarded in the industry. Earning these titles requires a diploma in gemology and additional advanced education, and experience in determining the value of gemstones and jewelry. All CGA and ICGA titleholders also must pass annual Recertification exams to maintain this prestigious title.
The ICGA member does not buy or sell diamonds, jewelry or gemstones. They also have completed an advanced course on various purposes of appraisals including estate taxes, divorce, or collateral.
Both the CGA and the ICGA must maintain an Accredited Gem Laboratory®, which consists of a gemological reference library and the gemological testing equipment necessary to provide accurate identifications. Theres no better source for fair and accurate appraisals.
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American Gem Society
Jewelry Appraisal Vs Selling Price
In many cases, appraisals are often inflated. Insurance companies and jewelry stores will both inflate appraisals.
A higher appraisal allows an insurance company to charge higher insurance premiums. The replacement value may actually only be half of what the appraisal is. Jewelry stores use inflated appraisals to make it seem like someone is getting a great deal when the dealer offers to sell them a piece of jewelry at a big markdown from the appraised price.
Intentionally over-valuing items on appraisals is illegal under Federal Trade Commission guidelines. It is also considered unethical by all nationally recognized appraisal organizations. The value assigned to the piece of jewelry should not be inflated beyond what is considered a fair retail selling price.
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How To Tell If Gold Is Real
There are several tests you can do to determine if the gold in your piece is real.
Gold has unique properties. For example, it is one of the densest metals on earth. So, any metal used to attempt to replicate gold will be much less compact.
If you have gold bullion and coins of a purported certain weight, you can weigh and check the size of your bullion which is made to a set of specifications. Anything less than pure gold will not weigh out correctly.
Also, unlike most metals, gold is not magnetic, so a real gold bullion coin, bar or piece of jewelry will not stick to a magnet. This will also tell you if the gold you have contains other metals or not. Be aware that gold is not the only non-metallic metal so a fake coin could pass this test.
Another test is that gold also has a distinctive ping sound when it is struck. Precious metals have a high-pitched ringing sound when struck. Base metals have a much shorter and duller sound.
Or you can drag your gold over an unglazed ceramic plate using slight pressure. If you see a gold mark on the ceramic, then the gold is real. But if the mark is black then it is fake.
Once you determine your gold is real, then you need to figure out how much of it you have. Start with determining the purity. Most gold pieces are stamped with the purity .
Comparing Personal Jewelry To Jewelry On The Market
To further establish the accurate pricing of an item, appraisers take advantage of the marketplace for research. They do this by finding items in the marketplace that are similar to the ones they are appraising, and make note of the current selling point. This research is extremely helpful for a well rounded appraisal.
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Finding A Coin Appraiser
If you are an experienced collector, you likely already have a relationship with a local coin dealer you feel you can trust. If you are in that fortunate situation, simply ask your trusted coin dealer for an appraisal. A quick over-the-counter appraisal may even be a free, informal service the dealer provides to build goodwill.
A formal appraisal from a qualified dealer may require that you leave your coin or coins with them for up to a week and will likely cost a fee. Remember that an appraisal is generally for replacement value, as in for insurance purposes, and is not necessarily the price you would obtain in a private sale.
Why Is It Important To Have An Updated Appraisal
This is the best way to assure you policy is adequate to cover your piece. Due to an ever-changing market, it is advised that you update your insurance appraisal every 3-5 years. It is a misconception to think that a receipt for the item is sufficient to cover your item in the event of an insurance claim. Insurance companies typically require an appraisal document with a detailed description of the item.
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Gold Appraiser Course Training Centre Sri Krishna Jewellers
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How Long Does It Take
Two factors will affect how long it takes: who and how much. One piece of jewelry will take much less time to appraise than if you have multiple pieces. Expect it to typically take anywhere from a few days to about a week depending on how many items need to be appraised. Sometimes we offer same-day appraisals, but usually only during special events or by appointment only.
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Jewelry Appraisal Vs Jewelry Grading
Its important to understand the difference between a jewelry appraisal and jewelry grading. An appraisal will give detailed information about the piece of jewelry, as well as the anticipated value.
A grading report, such as one you might receive from the GIA or AGS, provides detailed information on the carat weight, cut, color, and clarity . The other important distinction is that a grading report does list an estimated dollar value like an appraisal does.
Although appraisers have many tools at their disposal, they still are not as uniform in their analysis as grading laboratories are. In a lab, professionals are working for a single company under established guidelines and parameters. With appraisals, professionals can operate independently, or be affiliated with a small or large jewelry company.
A grading report will also verify the authenticity of a gem. But the grading report is subjective based on the lab standards where the gem in analyzed, and this can sometimes lead to discrepancies in grading reports between labs.
Many grading reports also include a diagram of inclusions that can affect how light is displayed in a diamond. Most gemstones have inclusions, but how they are interpreted vary from lab to lab. Flawless diamonds are rare and account for less than 1% of all finished diamonds.
Damage Or Loss Of Value Appraisal
An appraisal used by adjusters, insurance companies, or the insured party, this type of appraisal is used to assess a lost, stolen, damaged, or destroyed article of personal property.
A value is established for the item in its original condition, as well as its current value in its present condition.
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Average Jewelry Appraisal Costs
The cost of a jewelry appraisal can depend on many different factors. For this reason, the price will depend on the piece of jewelry you would like appraised.
The more complex the piece, the more it will cost to get the piece appraised. When you ask a jeweler for an appraisal price, youll typically get one of two answers.
Theyll either quote you a flat fee or an hourly fee rate with an estimated number of hours. Hourly fees for jewelry appraisers tend to run between $50 and $150.
To be sure, youll want to ask their estimated number of hours it will take to appraise the piece if they charge by the hour. That way, youll have a better idea of the total cost of the appraisal.
Remember, too, that cost can vary based on experience and certifications. An inexperienced appraiser may charge less than what a certified appraiser with years of experience would charge.
But in my opinion, youre probably better off paying the extra money and getting your piece appraised by an experienced appraiser.
How To Tell If A Diamond Is Real
A real diamond will not float, shatter under extreme temperatures, or hold the fog from your breath for more than a second or two.
Diamonds and gemstones are more difficult to appraise on your own. They are valued on several factors, starting with the 4Cs. If the piece is antique there may also be added value beyond what the raw components are.
To be honest, the best bet is for you to seek out a friendly jeweler who will give you a thumbnail appraisal for free. If youre more serious about knowing the value, you should pay for the cost of a legitimate appraisal, especially if there is considerable value.
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Why Appraise Your Jewelry At Barons Jewelers
BARONS Jewelers has been the premier jeweler of Dublin, California, since 1967. We pride ourselves on delivering luxurious fine jewelry to the East Bay area, and we encourage residents in San Ramon, Sunol, and Oakland to come by and experience remarkable guest service. Built on a legacy of dedication, trust, and integrity, our professional staff is here to answer any questions you may have about our inventory. Our store is equipped with jewelry services beyond jewelry appraisals, including custom jewelry design. To learn more about our products and services, give us a call at 344-8317 or visit our showroom today.
Jewelry Appraisal Vs Lab Report
When it comes to knowing how to get a jewelry appraisal, the first thing you need to learn is the terminology. While its common to get a jewelry appraisal, theres also another method of valuation for jewelry called a lab report.
Heres some information detailing the differences between a jewelry appraisal and a lab report.
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Know That Jewelry Appraisal Does Not Have To Be Difficult
If you dont know very much about what is involved with an appraisal, it can seem intimidating and overwhelming to be at the start of the process.
Before you begin, rest assured that there are ways to navigate jewelry appraisal that are painless and stress free. Many different businesses offer on site appraisal, and with todays technology you can research the qualifications and reviews before you even set foot in the door.
Many people have successfully acquired an appraisal, either in person or with a secure mail-in option.
So although it may be new territory, you can move forward with your appraisal assured that you do not have to do it all on your own.
How To Appraise Tiffany Jewelry
Tiffany jewelry is known for its simple, elegant styles and high-quality materials and diamonds. For this reason, Tiffany jewelry tends to maintain a high resale value, especially if the engagement ring or other jewelry is in good condition, and a style that is currently in demand.
Tiffany & Co. does not offer appraisals, but a reputable auction house will appraise a Tiffany item, or auction site like Worthy will provide a GIA lab report on your Tiffany jewelry.
Learn more about how to sell a piece of Tiffany jewelry or engagement ring you no longer want.
Keep in mind that how you get jewelry appraised can make a big impact on the sticker price of your pieces. If you have an item that includes diamonds, finding a certified appraiser who understands how to appraise diamond jewelry is your best chance at a clear value.
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How Much Is My Jewelry Worth
You might guess that solid gold and silver jewelry is worth more than costume trinkets. Yet, many jewelry owners still wind up wondering, Is my costume jewelry worth anything? Some vintage costume pieces have gold plating, but is gold plated jewelry worth anything?
Typically, the answer is no. Some name-brand vintage costume jewelry may have retail value at a specialty resale shop, but you may be better off donating unused plastic and costume items to a local charity, and enjoying a tax deduction.
Its difficult to get an answer to these questions without an appraisal. If your goal is having a general idea of your jewelrys value, consider working with Worthy to get an estimate and then lab report from a gemologist.
At the same time, always remember the golden rule of resale: Your stuff is only worth the amount someone else is willing to pay.
That doesnt mean that you shouldnt sell if you dont make a lot of money. In this post, I write about all the emotional value of selling engagement jewelry, as well as all the life-changing ways women have invested profits from jewelry sales.
After all, if youre not enjoying it, it is lost money.
Verify A Jewelry Appraisers Credentials
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What Is A Gemologist
A Gemologist is a certified professional who identifies, evaluates, and appraises gemstones. Nelson Coleman Jewelers employs Gemological Institute of America Gemologists to perform while-you-wait independent appraisals . Protecting our customers and their jewelry is important to us, which is why we recommend you get your jewelry appraised regularly.
How Does Jewelry Appraisal Work
Before an appraiser starts evaluating your jewelry, they should tell you upfront how much the cost will be and whether they charge hourly or flat rates. They might look at your jewelry while youre there. Or, they might ask you to leave your jewelry with them until theyre done with the appraisal process.
When the appraiser is done, youll get a document that explains jewelrys value. The document will also contain importance descriptions and details about the piece of jewelry.
You can learn more about the process by contacting your appraiser before your appointment. Simply ask them what you should expect and how to prepare for the appraisal.
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How Much Does A Jewelry Appraisal Cost
The cost of a jewelry appraisal depends on several factors:
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.
If you are getting your jewelry appraised for insurance purposes from a local jeweler or appraiser, expect to pay a flat or hourly rate, based on $75 to $150 per hour. Some appraisers charge based on a percentage of the appraised value.
For a certified laboratory report from an independent association like the Gemological Institute of America, or GIA, a one-carat diamond ring will cost an average of $200, with prices varying on the size, rarity and other factors of the jewelry. A GIA grading and lab report will cost about $200 for a simple diamond ring, and up.
