There is no doubt that engagement jewelry is precious for everyone, especially for couples. Lots of sentiments and emotions are attached to the engagement jewelry. Most people prefer wearing their engagement jewelry daily and do not remove them. Engagement jewelry signifies the bond of the couple and their love for each other. But at the same time, people fail to realize that there is a risk hovering around their jewelry every time they wear it. It’s high time people start taking care of their jewelry and get a jewelry appraisal for it. Back in time, there were few risks, and people’s jewelry was secure. But times have changed now. You need to have a jewelry appraisal in place to guard your gems and jewelry. Let’s know more about jewelry appraisal.
Meaning of jewelry appraisal
Usually, an appraisal is a document appraising an item and calculates its value. Jewelry appraisals are much popular these days. Most people get jewelry appraisal for insurance purposes only. There are very few who are guided by some other goals. In jewelry appraisal, every aspect of your jewelry is assessed, and accordingly, a value is designated to it. It is a legal document, and no one can afford to overlook it. Besides this, there are also different kinds of appraisals for other purposes. Let’s know more about them.
Different types of appraisals
You will find a wide variety of jewelry appraisals according to tax, insurance, or resale purpose. But the main aim of all these appraisals is the same- to know the fair market value of your jewelry. For the best results, make sure that jewelry appraisals are accurate and correct to the description. The most common types of appraisals include: insurance appraisals, charitable donation appraisals, estate appraisals, and fair market value appraisals.
Fair market value appraisals- This appraisal indicates the fair market value between the seller and buyer. But make sure that the value should be according to the current condition of the jewelry.
Liquidation appraisals- Owing to the immediate requirement, they usually have low value. People who are heading for their divorce or some liquidations then get such appraisals to serve their purpose.
Things to look in an appraiser
There is no doubt in this that your jewelry appraisal depends on the appraiser you hire. Your appraiser should be a person who knows how to do his job correctly. He must not be fresher in this and should possess the required skills for the same. Along with this, you need to check other things in an appraiser.
Credentials relating to it – Lookout whether he is certified for doing jewelry appraisals from some renowned institute or not. There is different training for each type of appraisal. Along with this, check his gemological credentials also. Your appraiser must be a graduate with minimum training in the same.
Sound knowledge- A jewelry appraiser must be knowledgeable concerning the manufacturing of the jewelry and must be able to recognize its contributions to an item.
Education in same- It doesn’t mean that your appraiser has some knowledge about the jewelry, then he is a good option for it. It is not enough for a sound jewelry appraisal. As you know, everyday something new is introduced in the jewelry industry, and consequently, one needs to stay updated about it. So make sure that your appraiser knows about all the latest happenings in the industry.
Expertise- Your jewelry appraisal will turn out to be the best if your appraiser has the experience in it. One should not take any risk as far as an appraisal is concerned. Consequently, make sure that he is knowledgeable enough to assure you of the quality.
Awareness of legal formalities- Highest level of professional behavior should be exhibited by the appraiser. Please take note of his reputation and affiliations in the industry. Also, check whether he has an awareness about legal formalities or not and then move ahead with a jewelry appraisal.
Things to take care in jewelry appraisal
- Firstly, look out for your purpose of appraisal and whether it matches it with the appraisal or not.
- Secondly, seek a clear explanation of the grading process and the measurements used in the process.
- Thirdly, it must be sealed and signed by an authorized appraiser as it is a crucial document.
- Fourthly, the purpose of appraisal should be mentioned on it.
As jewelry appraisal is a legal document, so you need to be extra careful with it. Take note of all the things mentioned above and get a perfect jewelry appraisal for yourself.
About the Guest Author
Naman Modi is a Professional Blogger, SEO Expert & Guest blogger at https://alexandcompany.com/, He is an Award-Winning Freelancer & Web Entrepreneur helping new entrepreneur’s launches their first successful online business.