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A jewelry appraisal puts a dollar value on a piece of jewelry. It is often required (along with a lab certificate) in order to have a wedding ring or engagement ring covered by renters insurance.

Tips

• Some jewelers will provide appraisals for insurance purposes; ask your jeweler if he/she provides this service.
• Some insurers will accept a sales receipt in lieu of an appraisal; again, ask your insurer.
• If you do need a jewelry appraisal, make sure you go to an independent appraiser. An independent appraiser is one who does not sell jewelery nor accepts money from those who sell jewelry. Pricescope has a listing of appraisers.
• By all means, go to multiple appraisers if you feel that your piece has been incorrectly appraised. (Ex. Appraised for 4 times the amount sold, making the insurance premium 4 times more expensive.)
• Jewelry should appraise for more than you paid for it: the appraisal value (especially for insurance purposes) is the cost to replace your jewelry, not what you paid for it.
• Some appraisers may require you to leave the jewelry overnight or for a few days, but if you are uncomfortable with this keep in mind there are many who will appraise the jewelry in front of you.
• The appraiser should take all the pertinent information regarding your jewelry while you are there- they take pictures of the piece and write down all other necessary information (metal type, ring size, etc) as well as record your diamond certification details. Make sure to also bring the receipt for your piece as that is information the appraiser needs as well.
• Once you receive your appraisal (about a week later)getting the piece insured can be quite easy- Jewelers Mutual is very easy to use as they have an online form where you can e-mail/upload your appraisal, pay and be insured right away.
• Ask your appraiser how often you should have your ring appraisal re-evaluated. As the market fluctuates and the value of commodities changes, it may be wise to have the appraisal value re-evaluated.
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Board Posts

• Ring Appraisal