There are many reasons for people to have their jewelry looked at.If you want to determine the value of your jewelry for homeowner's insurance or estate tax valuation, you may choose to get it appraised.If you are going to get a divorce, you might need to value your jewelry.
Step 1: A description of the piece is needed.
Weights, grades and measurements of components should be included in the characteristics.Comparison gemstones should be used to determine the color grade of the gemstone.
Step 2: There will be notes on the treatment of the gemstones.
If any atypical treatments were done on your gemstone, this should be noted on the appraisal.
Step 3: If the gemstone is natural or synthetic, watch for it.
Step 4: There are notes on the setting.
Step 5: An appraisal of the jewelry's value is necessary.
The value depends on whether you want your jewelry insured for its cash value, replacement value or agreed value.Cash value is the market value of your jewelry, not the purchase price.At the time of the loss, the insurer will pay you a specific amount according to its current market value.Agreed value means that you and your insurer agree on a specific value in the event of a loss.
Step 6: The appraisal will include a photograph of the gem.
Step 7: Make sure your jeweler uses the correct forms.
If your appraisal is for an insurer, you should use one of the following forms from the Jewelry Insurance Standards Organization.The form can be completed by the retailer who sold the jewelry to you.There is a jewelry document for insurance purposes.When you need a second appraisal, this form is used.JISO 78 is a jewelry insurance appraisal.A highly detailed description of the item is required for this form to be completed.Multiple items are the subject of a jewelry insurance appraisal.The form is used for the valuation of multiple items of jewelry.
Step 8: Look for gemological and appraisal education.
Archeologists need to know valuation theory in order to appraise jewelry according to the intended use of appraisal documents.
Step 9: Take a look at the resume or curriculum vitae of your appraiser.
Professional certification and continuing education will show that the appraiser is keeping his or her skills up to date.
Step 10: If you have certification or membership credentials, verify them.
If the person claims to be certified by the American Society of Appraisers, double check the certification by calling the organization or visiting their website.
Step 11: Check for errors and omissions insurance.
Errors and omissions insurance protects the appraiser if an error is made on their appraisal so that they can be compensated appropriately.
Step 12: You can contact the American Gem Society to find an appraisal in your area.
The AGS is dedicated to the education and protection of consumers.An annual Recertification Exam is taken by AGS members.
Step 13: Someone who is a member of the National Association of Jewelry Appraisers can be found here.
NAJA labels members according to their level of experience in the industry, and Certified members have reached the top of education in appraisal studies.
Step 14: The American Society of Appraisers has a certification program.
There are many areas in which jewelers have training, including Appraisal Review and Management, Business Valuation, Gems and Jewelry, Machinery and Technical Specialties, and Personal and Real Property.They submit evidence that they can handle complex appraisal assignments.