How Often Should You Have Your Jewelry Appraised?

Posted on Friday, January 17th, 2020 at 12:34 pm by Molly

True Story:

We had a customer come in recently with the remnants of her wedding set that did not survive a trip through the garbage disposal.  The center diamond was missing and the ring unrecognizeable--it was just a blob of gold.  She had talked to her insurance company and was using an appraisal from 2008 to replace the ring.  The problem is that the price of gold in 2008 was $870 an ounce and today it's $1,557 and ounce. The cost to replace her ring today is much higher than the appraised value in 2008.

That's why we recommend to have your jewelry at least every three to five years. Over the years, the value of your jewelry and gemstones can fluctuate greatly. If your last appraisal is over two years old it may be out-of-date and, as a result, your jewelry could be insured for less than its replacement value. That means you risk a substantial financial loss if your jewelry is lost, stolen or damaged.

An appraisal from Towne Square Jewelers includes a complete laboratory testing of your jewelry and an appraisal report for your records. The report contains such information as:

  • the content and weight of precious metals;
  • a detailed description of diamonds and gemstones (carat weight, cut, clarity, color, measurements, proportion and finish);
  • an internal diagram showing any inclusions (natural marks) in diamonds;
  • a color photograph;
  • the appraised value of your jewelry.

Towne Square Jewelers offers one-day appraisal services. Our next appraisal day is Friday, January 24.