Jewelry Appraisal Myths

Jewelry pieces can be some of the most valuable and expensive accessories that you own. Due to the potential value of jewelry items, there is often a need for individuals to get their pieces of jewelry appraised by a professional.

Myth: Any Jeweler Can Appraise Your Jewelry

While a jeweler can repair many of the problems that your pieces of jewelry may encounter, they are unlikely to be able to effectively appraise your jewelry piece. This is due to the specialized skills and training that are needed to be able to accurately estimate the value of a particular piece of jewelry. In addition to the quality of the components used in the jewelry, these professionals can also interpret the historical significance of the piece, its rarity and other significant considerations.

Myth: You Should Always Have Jewelry Restored Before Getting An Appraisal

When selling jewelry to a buyer, the condition of the piece will be a primary factor in determining its value. Not surprisingly, this leads many individuals to assume that they should get their jewelry restored before they have it appraised. However, this is inadvisable due to the fact that historically significant pieces of jewelry can actually lose value if they are improperly restored. Before deciding to have this done to your piece of jewelry, you should have it appraised first. The appraiser will be able to help you to determine whether it will be worth the price to have the piece of jewelry professionally restored.

Myth: Appraisals Are Only Needed When Selling Jewelry Items

Many individuals may only think about getting their jewelry appraised when they are looking to sell it. However, it is advisable for anyone with a significant jewelry collection to get it appraised. This will allow you to choose the right type of insurance coverage to insure the entire collection. Also, this can meet the documentation requirements that some homeowner's insurance policies will have before issuing compensation for lost high-value items.

Myth: There Is No Point In Appraising Damaged Jewelry

It can be common for jewelry to suffer damage over the years that you own it. Unfortunately, individuals may assume that these pieces of jewelry will have lost enough value to no longer make it worthwhile to get it appraised. However, these pieces of jewelry may still be worth significant amounts. This is particularly true for antique pieces of jewelry. Before you decide to sell these pieces for scrap, an appraisal can help you to avoid potentially selling valuable pieces of jewelry for far below their value.