Most frequent questions and answers
There is not a set price for an appraisal. The price depends on the nature and characteristics of the appraised item and the time required to evaluate the item.
Our gemology team will evaluate the complexity of your appraisal and provide a time estimate to complete your appraisal, with typically quick turnaround.
Many people request an appraisal to insure their jewelry. The insurance company will almost always require an independent appraisal to establish a replacement value. We can also perform appraisals to authenticate a piece of jewelry or to establish a value for an estate auction or sale. You can be sure that we will carefully examine your item and provide a fair and accurate appraisal.
This value is a reasonable estimate of what your insurance company would need in order to replace the item.
No, the appraisal value is not an offer at which we will purchase the item.
We provide a reasonable estimate of the replacement value of an item in an appraisal. Some people mistakenly believe that if they insure their jewelry for a higher value, they will get a higher insurance settlement if their item is lost or stolen.
In fact, this is rarely the case. While a higher appraised value will usually mean you pay higher insurance premiums for coverage, the insurance company will not generally pay the appraised value to a policyholder. They will instead pay the replacement value of the item, regardless of how high the item is appraised. Consult your insurance policy or insurance agent for details about your specific policy.
There are a number of factors that affect how often an item should be appraised. Several factors include the item’s condition over time and current market prices for precious metals and gems.
For insurance purposes, if the value of your jewelry increases significantly and your insurance coverage does not increase, your jewelry may be under-insured. In the event of a loss or theft, the insurance company may pay you only the insured value, not the actual current replacement value of the item. For this reason, some people update their appraisal and insurance coverage every few years. You should consult your insurance policy or insurance agent for an understanding of how your individual insurance coverage works.