Appraisals

Appraisal: a certified document you can present to insurance companies in case of damage, loss, or theft, and it is also essential in the process of settling an estate. Appraisals are normally completed within 48 hours. 

Why Appraise?

• It’s important to keep your appraisals up to date every 3-5 years depending on your insurance company.
• Knowing what your valuables are worth is always a sensible thing to do.
• There are fluctuations in the gold, diamond, and gemstone markets.

How much is mom’s diamond brooch worth? Can you share inherited jewelry equitably? What is the worth of my grandmother's pendant? Are you giving jewelry as a gift to a family member, or someone else?

For insurance purposes you will want a full, complete, and highly detailed appraisal of each jewelry piece. A certified appraisal is what insurance companies prefer and for your benefit it's best to keep your appraisals up to date.

Here at The Diamond Studio we have certified staff members, a guild gemologist, accredited appraisers, and accreditation from the top recognized jewelry institutions. During an appraisal we will:

• Examine your jewelry, which includes cleaning it in order to see the setting, diamonds, and gemstones clearly.
• Take a photograph of your jewelry and attach it to your appraisal.
• Measure and possibly weigh larger gems/diamonds to determine the type, carat weight and quality.
• Check the type and karat of metal, as well as collect notes on the item.
• Provide you with a detailed typed certified description of your jewelry item and a stated retail replacement value. 

Tip: If you have an old appraisal or a receipt from the original purchase of a jewelry item, bring it with you when you have your piece appraised. This can help the appraiser determine vital information like original cost or the carat weight of a diamond/gem.

Types and Reasons to get an Appraisal

• Retail Replacement Value
• Insurance Replacement Appraisal
• Estate Settlement Appraisal (Fair Market Value)
  • an estate jewelry appraisal value is different than the appraisal value for insurance purposes.
  • Fair Market Value
    • appropriate in cases such as dissolution of a marriage or distribution amongst family members
• Verify Internet Jewelry Purchases
• Selling Used or Inherited Jewelry (Free verbal estimate)
  

Want to know more about getting an Appraisal at The Diamond Studio? Feel free to call or text us at (630) 420-2622.

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