Summary: What exactly is an appraisal? How do they determine the value? Find out below.
You’re scavenging around your mother’s creaky attic. You stumble upon an old, worn jewel-encrusted box covered in dust. Its color is slightly worn and there are visible scratches around the surface. You open it and find a row of glistening, art deco rings sitting there neatly as if they haven’t been touched for decades. Granted you are now the owner of them, the first thing that you should do is get a professional appraisal done.
What is an Appraisal?
An appraisal is a document that assesses the condition of your jewellery along with assigning it a designated value. On your document, you should see both objective and subjective findings attached. Objective findings include: the material and the markings. While subjective findings include: the quality of the stone, the rarity, and the condition of the overall band.
Today, many insurance replacements are the reason for appraisals. People will want to match the cost of what their item is worth to what jewellery stores regularly sell it for.
An experienced appraiser will give you a fair price for your jewellery. By factoring in things like the current market value, don’t be surprised if what you get appraised may be lower than expected. Bringing in a bunch of vintage engagement rings that you found in your mother’s attic doesn’t mean that you will end up being a millionaire. Vintage jewellery pieces tend to range in value and visiting a seasoned appraiser will give you an idea of how much your prized possession are worth.