Jewelry Appraisal Costs
An independent jewelry appraisal is a written statement prepared by a qualified and independent professional jewelry appraiser. This will define the value of a piece of jewelry at the time of its appraisal, and also define the characteristics of the item appraised. You may need an independent jewelry appraisal for the purpose of insuring your valuables, or are just interested in knowing their value for possible sale. Other reasons for getting an appraisal are: estimate the fair value before purchasing a piece of jewelry, verifying the authenticity of a piece of jewelry, estate planning, taxation, and probate, bankruptcy, divorce, and for some types of litigation.
When having jewelry appraised, if you're looking for insurance documentation, be sure to use an appraiser who is a member of a nationally recognized appraisal organization, such as the American Society of Appraisers, International Society of Appraisers, or the American Gem Society.
Some jewelry stores and gem distributors offer free or $25 appraisals. Though these offer a low cost option for appraisals, and may be fine if you are simply interested in resale of your jewelry, this type of appraisal may not be adequate for insurance purposes. A certified appraisal may cost up to $330, based on the length of time needed to properly appraise the jewelry and the type of jewelry. The fee can be charged by the hour, or at a fixed rate. It should not be charged as a percentage of the value of the item appraised.
A professional jewelry appraisal will cover about 20 different factors, and an additional 10 or more for diamonds, pearls, custom watches, and other gemstones.
Most experienced jewelers can provide a good appraisal, but this will probably not be adequate for full full recovery of the value of the jewelry if a claim is made. For insurance purposes, on jewelry valued over about $5,000, only a professional appraiser can do the job properly.