Owning a treasured heirloom or sentimental favorite piece of jewelry is something we can all relate to. While these pieces are irreplaceable to us, it is important to appraise and insure them to ease the pain in case of loss. There are several advantages to having jewelry appraised .

Appraising Jewelry helps the insurance company to insure for the current retail replacement value and aides in providing adequate coverage values in the event of loss or theft.  Appraising jewelry is also an opportunity to have a professional cleaning and maintenance check on your jewelry. This process not only allows your piece to look its best, but can identify any repair or future repair issues.  Appraisals can also be invaluable tool if you are looking to sell your jewelry. An appraisal is a special document that most people look for when purchasing jewelry to validate the value of their purchase. Appraisals should always be done by a accredited Appraiser who also needs years of experience in metal/ bench training so the jewelry is properly valued based on construction and specific design characteristics that add value to your unique piece.

Appraisals should also be updated regularly. Insurance companies suggest every 3-5 years;  but to be sure, check with your specific insurance company on their requirements.  Appraisals need updating because trends in the metal markets rise and fall effecting jewelry prices. Colored stones and Diamond can raise in value based on supply and demand which also contributes to market fluctuation. It is important that updated appraisals are done to reflect different market trends and to insure proper value. There is nothing worse than having an event that would lead you to use your insurance on a beautiful piece of jewelry which was appraised 10 years ago and never updated, only to realize your are totally undervalued when it comes to the compensation. Remember insurance companies may not always remind you to update your appraisals so be pro-active in keeping up with this to protect your investment.