Made of high-quality materials and rare natural resources, fine jewelry can be one of the most valuable assets you own. As such, it’s essential to properly document your investments, which includes getting pieces professionally appraised. Jewelry appraisals involve a thorough examination to assess an item’s craftsmanship, gemstone characteristics, metal weight and purity, and any historical significance. Here are some key reasons this is important information to have.
Why You Should Get Your Jewelry Appraised
Make Informed Decisions When Buying or Selling Jewelry
Whether you’re buying or selling jewelry, an appraisal can provide you with key details you need to make better decisions. As a buyer, this can be useful for confirming the authenticity of a piece. When selling, your appraisal will make it easier to set a realistic price, justify your asking price, and attract potential buyers.
Obtain Adequate Insurance Coverage
One of the primary motives for getting a jewelry appraisal is for insurance purposes. Having an accurate valuation of your pieces will help determine how much coverage you need. Getting an adequate amount of protection is a crucial step in offsetting the financial burden of loss, theft, or damage. Also, most insurance companies will require a written appraisal to prove value in the event of a claim.
Ensure an Accurate Replacement
Should you ever need to replace one of your cherished jewelry pieces, an appraisal can help ensure what you receive is as close to the original as possible. Appraisal reports include a detailed description of the item and any unique features it may have. This will give your jeweler guidance in creating a satisfactory replacement.
Avoid Issues During Estate Planning & Probate
Jewelry appraisals often play a vital role in the estate planning and probate process. They help identify the value of a collection so people can carefully decide how they want to divide an inheritance among heirs. This is a necessity if you’re hoping to minimize confusion or conflict during the distribution of your assets.
Whether you own a treasured family heirloom or are considering a new fine jewelry purchase, don’t overlook the benefits of having your pieces appraised. At Steve’s Precious Metals in Redding, CA, our expert staff offers free verbal jewelry appraisals to get you started. This will give you a good idea of the item’s value without the obligation of an official written appraisal. Then, we can refer you to a local appraisal professional if you’d like a further assessment. Call (530) 223-0170 to schedule an appointment or reach out to us online.