A Brief Guide to Jewelry Appraisal
Far too often those who are looking to sell their jewelry go to a local pawn shop and sell something sentimental and precious for far less than what it’s worth. The first step to getting your jewelry appraised involves doing your research. Anyone can claim to be an appraiser of personal property, but real estate appraisers are actually license to do so. It is also important to know that your local jeweler does not an appraiser make. He may be a step up from the pawn shop, but a professional appraiser appraises property for a living, including jewelry, and does so with jewelry appraisal software. It’s your job to make sure your appraiser is licensed and his professional opinion is viable.
There are many reasons to get an appraisal that don’t include you wanting to sell your jewelry. You’ll need an appraisal for insurance or tax and estate purposes. It’s important to look into how much an appraisal will cost. This is another reason why you should do as much research as possible before settling on an appraiser. Also know that getting your jewelry graded is different than getting it appraised. An appraisal is best suited for insurance and tax purposes while a grade is best suited for those who are looking to resell.
A proper appraisal should come with the right paperwork. It should have a cover document, an explanation of a detail grading system, a professional profile of your appraiser including their education and experience, the body of the appraisal which includes a very specifically written appraisal of your item, and a reverse, which should contain lab work, photographs, and anything else related to your jewelry. Knowing what to expect can save you time and money.