There are a lot of myths and misinformation about the process of appraising jewelry. If you own expensive and nice jewelry that you want to get appraised, it helps to understand the truths behind the jewelry appraisal process. Here are just four truths about jewelry appraisal services.
Truth #1: It Takes Time to Appraise a Piece
Appraising a piece of jewelry is more complicated than just looking at the jewelry and deciding how much the jewelry costs. An appraiser's job is to carefully inspect your jewelry to determine its grade, which can take multiple examinations and tests for each item you are having appraised. Then the appraiser has to research market conditions in order to determine the price, which could take multiple days in order for the appraiser to find the right information. This isn't a process that takes only a few minutes to complete; this is a process that takes time and research in order to provide you with the most accurate information.
Truth #2: An Appraisal Is Not Free
A real, written appraisal will require a significant amount of time, testing, and research on the part of the appraiser. When an appraiser provides you with a formal appraiser, it is more than just a guess of what the value of your jewelry is, it is an actual legal document that the appraiser needs to get right. An appraisal is not free; you need to compensate the appraiser for their time and experience, as well as for creating a legal document for you.
Truth #3: The Appraiser Needs to See Your Jewelry
In order to get a legal appraisal, the appraiser needs to see the actual jewelry. A picture is great but an appraiser cannot complete a legal appraiser of the jewelry without having it in hand or being able to examine and test the jewelry in-person. Even if the appraiser has already appraised the piece years ago, they still need to see the jewelry as the quality of the jewelry could be the same or it could have degraded over time. When you hire your jewelry appraiser, you have to give the jewelry to the appraiser who will take great care of your jewelry until the process is complete.
Truth #4: Appraisers Estimate Value
Finally, it is important to understand that the appraiser doesn't set the value of your jewelry; rather, they estimate the value based on market conditions. It is really the conditions of the marketplace that set the value of your jewelry. Over the years, the same piece of jewelry kept in the exact same condition can experience huge changes in the value of the piece due to changes in market conditions.
Learn more about the jewelry appraisal process by contacting local jewelers.
