Getting a jewelry appraisal is an important way to document the worth of a valuable asset. Whether you have an engagement ring, necklace, or heirloom brooch, it is essential to get the value in writing for a variety of reasons. A few of those reasons are outlined below.

Important for Insurance

One of the main reasons for getting jewelry appraised is for insurance purposes. The first step in confirming the value of pieces and determining the right amount of coverage is an appraisal. A standard homeowner's insurance policy typically doesn't cover rare pieces of jewelry. An extension of a homeowner's policy called a "rider" is good way to ensure special pieces of jewelry have the appropriate amount of coverage. It is a good idea to be up to date on the price of your pieces; as time passes, jewelry and gold value can fluctuate greatly. If more than two years has transpired since the last appraisal, items may be insured for below replacement costs. If they get lost or stolen, you may have to pay more to have them replaced since insurance may not cover the entire cost.

It Can Help When You Want to Sell

At some point, you may want or need to consider selling jewelry for cash. A recent appraisal can be a useful tool for setting a benchmark for the value; it may help to better set expectations for both the buyer and seller. If you have a particularly valuable piece of jewelry, it may be wise to get an appraisal from more than one appraiser.

What's Included

A typical appraisal report contains a variety of different information in addition to the appraised value. The substance and weight of precious metals can be one component. For diamonds and other gems, information of color, clarity, cut, and carat weight are included. An appraisal may also have a drawing showing any inclusions and well as a color picture.

A jewelry appraisal is an important way to confirm the value of your property. Taking your jewelry to a professional appraiser can help ensure the job gets done right. Call (480) 949-9299 today to receive an honest and professional jewelry appraisal from the experts at Ralph Mueller and Associates.