Why Should I Have My Jewelry Appraised?At Rumanoff’s Fine Jewelry, we’ve found that our customers want their pieces appraised for many different peace-of-mind reasons.
Sometimes, customers come in with trinkets they’d like to learn more about. After all, the value of jewelry changes over time due to things like demand and fluctuating value of precious materials. For example, gold has proven to be a remarkably volatile resource. In 2012, the price of gold skyrocketed to over 1,900 dollars per ounce. These fluctuations don’t exist in a vacuum! If your ring is made from gold, it will fluctuate in price too.
Also, appraisal can give you an idea about the quality of your piece. It’s more than frustrating if you go in to sell a treasured ring and only find out at the last minute that the ring’s center diamond has a huge crack in it, cutting thousands off its value.
But more often than not, jewelry will be appraised for insurance purposes. It’s crucial to ensure that your most valued jewelry is continually insured, and insurance companies won’t rely on your personal affidavits of its value. If, in the worst-case scenario, your jewelry is lost or stolen, you run the risk of having your insurance give you significantly less money than your treasures’ actual value.
Since the value of your jewelry will change its value based on a number of factors in the market, it can be a difficult thing for inexperienced parties to keep track of trends. It’s important to have your jewelry appraised by professionals like the ones at Rumanoff’s Fine Jewelry. Our experience with jewelry appraisals, including GIA certification, marks us as one of the most trustworthy appraisers in Connecticut.
The Appraisal Process at Rumanoff’s Fine JewelryGIA certification ensures that our professionals have the skillset necessary to satisfy both your need for peace of mind and the insurers’ need for a paper trail. Here at Rumanoff’s Fine Jewelry, we suggest that you should update your appraisal every two years.
While two years is a general rule of thumb, altering your jewelry significantly can alter its value in a way that demands a re-appraisal. Alterations such as changing out jewels, altering the size of a piece, or having new features added can radically alter jewelry’s insurance value. Along those lines, remember that if you ever take advantage of our professional custom jewelry design, our jewelry appraisal team can help you to determine the base value of your new treasure.