3 Ways to Evaluate Jewelry

Table of contents:

2024 Author: Samantha Chapman | [email protected]. Last modified: 2023-12-17 09:13

Jewelry is valued for many reasons. The evaluation is carried out when you want to sell a jewel, to determine its value to obtain insurance or to determine the inheritance tax. The jewels are also valued in the event of divorce or to receive a real guarantee.

Steps

Method 1 of 3: Know What Should Be Included in the Assessment

Step 1. Look for the description with all the characteristics of the jewel

These characteristics include the weight, grades and measurements of the components. The color degree of a gemstone is established by comparing different stones.

Step 2. Notes on the treatment of the gemstone

Any special treatment that the stone has received should be included in the evaluation.

Step 3. Make sure there is a statement stating whether the stone is natural or synthetic

Step 4. Note on the mount type

Step 5. Look for the evaluation of the value of the jewel

The value depends on several factors: whether you want to insure the jewel for its cash value, for its replacement cost, or for its agreed value.

The cash value is the value of the jewel according to the market rate of the day, not the purchase price.
The replacement cost is the amount of money that the insurer is willing to pay according to its current market value at the time of the loss.
The agreed value is that value decided by the owner and the insurer in case of loss of the jewel.

Step 6. The evaluation must include a photo of the gemstone

Step 7. Make sure the jeweler is using the correct forms

If the assessment is for an insurer, you must choose one of the following modules established by the Jewelry Insurance Standards Organization:

JISO 805-Jewelry Sales Receipt for Insurance Purposes. This form is used when purchasing a piece of jewelry and is completed by the jeweler.
JISO 806-Jewelry Document for Insurance Purposes. This form is obtained when a second evaluation is carried out.
JISO 78-Jewelry Insurance Appraisal- Unique element. This form must be completed by a certified appraiser and it is a detailed description of the jewelry.
JISO 79-Jewelry Insurance Appraisal- More elements. This form is also completed by the certificate appraiser and is used to appraise more than one piece of jewelry.

Method 2 of 3: Check the Credentials of a Jewelry Appraiser

Step 1. Check its gemological formation and evaluation

The appraiser must be familiar with precious stones and valuation theory in order to be able to evaluate a jewel according to the use to be made of it.

Step 2. Check the assessor's resume

Make sure he has a professional certification and up-to-date training that demonstrates that the assessor keeps himself up to date.

Step 3. Check all his certifications and enrollments

If the valuer claims to be part of a given valuation firm, make sure it is true and that that firm is valid.

Step 4. Check for possible errors and omissions in the insurance

Liability insurance protects the assessor in case of errors and ensures that the owner is rewarded appropriately.

Method 3 of 3: Find a Jewelery Appraiser through a Professional Organization

Step 1. Contact the Italian Precious Stones Association to find an evaluator in your area

The assessors who are part of this association must take annual exams to renew their certification.

Step 2. Find a jewelry appraiser through the National Association of Jewelery Appraisers

The members of this association are experts in the field and have a solid background in the field of evaluation.

Step 3. Search for evaluators in the National Association of Evaluators

Jewelers who are members of this association know how to manage and renew valuations, deal with jewels and precious stones, special machinery, personal property, business valuations, etc. They must also take exams and demonstrate that they can handle complicated assessments.

Advice

Choose a valuer who does not want to buy your jewelry. In this way, the evaluator will have no conflict of interest, such as convincing you that your jewel has a lower value than the current one.
Usually a piece of jewelry is appraised once every 3-5 years to know its current value.
Clean the jewelry carefully before it is evaluated.

Warnings

Avoid evaluators who ask to keep the jewelry for a long period of time.
Avoid appraisers who charge based on the size of the gemstone. A large stone does not justify a higher rate.

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