About Jewelry Appraisals
A jewelry appraisal is an opinion as to the authenticity, quality, design and value of a piece of jewelry. Since it is an opinion backed and supported by training, equipment and experience, it is important to understand that there can be honest variations between competent appraisals. For Insurance Appraisals, most people commonly believe that the declared Price Evaluation is the most important aspect of the appraisal. This is not true.
Actually, the most important part (and the most protective to the customer) is an explicit description of the jewelry item accurately depicting the design, the metal, the stones and their quality. The only purpose the declared price serves is as a vehicle to determine your insurance premiums.
There are other types of appraisals which may require different valuation methods such as Estate Appraisals and Fair Market Value Appraisals. The valuation basis for these appraisals is entirely different than for an insurance appraisal.
Before having an appraisal done, be sure to understand the purpose for the appraisal and convey that to to the appraiser.