Quick Answer: Are Jewelry Appraisals Accurate?

How long are jewelry appraisals good for?

two to three yearsJewelry fluctuates in value.

The older the appraisal the less accurate the value it lists.

This is almost always less than what you should be insuring your jewelry for.

Insurance companies and appraisers recommend updating jewelry appraisals every two to three years..

Does Kay Jewelers appraise jewelry?

Every diamond and fine jewelry purchase at Kay’s Fine Jewelry (above $1000) comes with a certified lab appraisal for insurance and evaluation purposes. This appraisal is not conducted by KFJ. … Jewelry pieces purchased for less than $1000 are accompanied by a detailed In-store appraisal with full listings.

Can you sell jewelry for appraised value?

This is why people often look to their jewelry appraisal for the value, however, appraisals are mostly done for insurance purposes and unfortunately, the truth is, you can NOT sell your diamond for the face value of an appraisal. This is a misconception.

Is Zales a good jeweler?

Although Zales offers poor value for money overall, it does have quite a large selection of diamonds and settings. If you want to browse diamonds and settings without buying, viewing Zales engagement rings online isn’t a terrible option.

How can I appraise my own jewelry?

How to Appraise Jewelry Yourself at HomeLook for stamps: The stamps, or markings that indicate the metal content and the manufacturer or designer, are the best hint as to your jewelry’s true value. … Test the metal: Gold reacts a certain way to specific tests, and if you have a piece that’s yellow in color you’ll want to try this out.More items…

Do pawn shops appraise jewelry?

Get your jewelry appraised. Pawn shops are usually only interested in pure metals, like gold and silver, and diamonds. They often turn down gold-plated items, as well as costume jewelry. Take your jewelry to an appraiser or jeweler for a free assessment to find out what your jewelry contains and what it’s worth.

What does appraised value mean for jewelry?

An appraisal is a document that provides a detailed description and corresponding value for a specific item, whether it is a bracelet, a watch, or a diamond ring. Most jewelry and diamond ring appraisals are performed by a certified appraiser who conducts a thorough inspection of the piece.

Are appraisals usually accurate?

An appraisal is not the definitive market value of a home. … The fair market value of a property is the price that a willing and knowledgeable buyer would pay to a willing and knowledgeable seller, when both parties are acting voluntarily and in their best interests. Appraisals can be very accurate or downright faulty.

Do jewelry stores appraise rings?

Nearly all jewelry stores offer appraisals. Many jewelry stores have a jewelry appraiser on their staff. You can often contact the jewelry store ahead of time to schedule an appointment to have your jewelry appraised in front of you. Another option is to go to an independent diamond jewelry appraiser.

Do jewelers do free appraisals?

Most local, reputable jewelers will give you an appraisal for free. Check the National Association of Jewelry Appraisers for a recommendation.

What’s the best way to sell jewelry?

Selling your jewelry in person to a local shop may still be the best way to get the most money out of it. Here, too, you have lots of options, including coin shops, pawnshops, consignment shops and jewelers. The American Gem Society provides a list of local jewelers who buy jewelry.

How do you get antique jewelry appraised?

The best way is to get an appraisal from an independent appraiser, but be careful who you choose. If an appraiser charges you a percentage of your property’s value, find another one, because you can’t be certain your jewelry won’t be over evaluated, just to get a higher commission.

How much does it cost to appraise jewelry?

Costs can range from about $50 to $75 per item or $50 to $150 or more per hour, depending on the items and nature of the appraisal. And given that the prices of precious metals tend to fluctuate dramatically, appraisals should be carried out every few years to keep your insurance coverage up to date.

Why is diamond resale value so low?

The reason resale prices for diamonds are so low compared with retail prices is that jewelers buy diamonds in bulk, at wholesale prices, which are much lower. The retail price you pay for a diamond at the store is higher because it includes overhead expenses, such as rent and personnel salaries.

Is Kay Jewelers better than Zales?

Zales and Kay’s are one in the same. They are owned by the same paren’t company. … They were priced better than Kays when my husband purchased my diamond wedding band. I feel like Zales has better quality that Kay’s too.