Appraisals are performed to put a true market value on jewelry and watches. Appraisals can be for sale, insurance purposes or to settle an estate or a divorce.
Why appraise my jewelry? Jewelry is most commonly appraised for three reasons, to sell the items, for insurance purposes or to settle an estate or a divorce.
Who can appraise my jewelry? Appraisals are usually performed by certified appraisers or professionals with appraisal experience working in retail jewelry stores.
What organizations certify appraisers? The main certification organizations are the American Gemological Society (AGS), National Association of Jewelry Appraisers (NAJA), and the American Society of Appraisers (ASA).
What are the different certifications? Some of the more common certifications are:
1. Certified Gemologist Appraisers (CGA) from the American Gem Society,
2. Certified Master Appraiser (C.M.A.) from NAJA, and
3. Master Gemologist Appraisers® from ASA.
What is in an appraisal? A jewelry appraisal should outline all the details of the item including the size of stone, karat of gold, weight, type of metal, unique features, current market value and any other pertinent information. The appraisal can be one page or more and is customized based on the appraiser's normal practice.
How much do appraisals cost? Appraisals can be billed per item, per hour or even as a percentage. The most common is per hour. Make sure you ask the person performing the appraisal before making the final decision of the total cost of the appraisal. If you have multiple items then your estimate should include everything. Also ask to see a sample of an appraisal to make sure the format and contents meet your needs for the specific purpose of your appraisal.
