Your jewelry holds sentimental value, but do you know its actual monetary worth? That’s where a jewelry appraisal comes in. In this guide, we’ll explore a jewelry appraisal’s key benefits and when it might not be necessary—so you can decide if getting your jewelry appraised is truly worthwhile. If you’re looking to protect, sell or simply understand the value of your pieces, keep reading.
You can learn what a jewelry appraisal involves and explore the appraisal process at Borsheims on our Services page.
Why Jewelry Appraisals Are Worth It
1. Insurance Protection
One of the biggest reasons to get your jewelry appraised is for insurance coverage. If your piece is lost, stolen or damaged, your insurance company will require a recent appraisal to process a claim. Without one, you may not be able to recover its full value.
2. Accurate Resale or Estate Planning
If you’re selling your jewelry, you need to know what it’s worth. Appraisals give you a realistic market value, which helps you price it correctly and avoid underselling. They’re also helpful when dividing assets in estate planning, divorce or inheritance situations.
3. Verification of Authenticity
An appraisal can confirm whether a diamond is natural or lab-grown, whether the piece is solid gold or gold-plated and whether brand markings are legitimate.
4. Understanding Your Asset
Fine jewelry can appreciate over time. Getting your pieces appraised every few years can help you track value increases and decide whether to hold or sell.
When Might You Not Need an Appraisal?
While there are many jewelry appraisal benefits, it isn’t always necessary. You can likely skip the expense in a few specific situations.
- For fashion jewelry: Fashion jewelry typically isn’t worth appraising, as the appraisal cost may outweigh its actual worth.
- If you already have a recent certificate: At Borsheims, all jewelry purchases of $1,000 or more will be accompanied by either a complimentary jewelry appraisal or letter of value dependent on the purchase price.
- Sentimental value: If a piece’s value to you is purely sentimental and you have no intention of selling it or insuring it for a high value, an appraisal might be an unnecessary cost.
Jewelry appraisals are absolutely worth it if you want to protect your purchase, insure your valuables or plan your estate responsibly. The small upfront cost can save you thousands in the event of loss, theft or resale.
Before you leave your jewelry unchecked and uninsured, consider getting a professional appraisal. It’s a smart, secure move for any jewelry owner. Learn more about jewelry appraisals at Borsheims.
