Jewelry appraisal has gained high popularity in recent years owing to the increasing value of gold and diamond jewelry items. Also, the rising fraud and duping activities in the jewelry market have made appraisal essential for fair trading. Various renowned jewelers and jewelry brands have begun practicing appraisal to maintain transparency while dealing with high-valued ornaments, gemstones, and other jewels. It is an upright practice that facilitates easy sale and exchange of jewelry at the best market rates. So, if you are looking for a jewelry appraisal near me, there are certain things that you must know beforehand.
What is jewelry appraisal?
‘Jewelry appraisal’ is a very popular and trending term in the present time and you must have come across it as well. Visit any diamond store in South Beach Miami and you are likely to find jewelry appraisal services being offered. Both buyers and sellers now understand the importance of dealing in original and genuine jewelry items and therefore prefer to have all the items appraised before engaging in any sort of trade.
In simple terms, jewelry appraisal refers to the process of evaluating the quality and current market value of a jewelry item by a certified jewelry appraiser. A close inspection is done that involves screening the condition of the jewelry piece, the gemstone’s quality & characteristics, the metal used, and its design. Once a close examination is conducted, the appraiser will give an estimated value of the jewelry item and provide it in writing.
This written document is known as the jewelry appraisal which enlists a detailed quality assessment of the ornament. This document may include the net value of the jewelry in terms of carat value, estimated color, and clarity. All the measurable, visible, and analyzable aspects of the item should be mentioned in an appraisal document. When you look around for a jewelry appraisal near me, ensure that the appraiser is experienced and offers a reliable valuation.
Jewelry Appraisal: How does it work?
The jewelry appraisal process refers to the valuation of an ornament based on its measurable, visible, and subjective aspects. An appraiser is a trained professional who knows the standard criteria that must be followed while evaluating the worth of metal, diamond, and other precious stones. They are also experienced in predicting the rarity and manufacturing quality of the jewelry items as well.
Jewelry appraisals are mainly done for insurance purposes as the document is credible and acts as a viable proof of the mentioned value of the jewelry item. While appraisal documents may differ in varied aspects, there are certain key factors that must remain constant. Following are the essential factors that should be mentioned in the appraisal document:
- The present condition & quality of the piece
- The stone’s characteristic i.e. its weight, color, clarity, etc.
- The measurement of the jewelry
- The exquisite design
- Metal and gemstone settings
- Rarity and manufacturing quality
You can expect additional details of the jewelry item added to the appraisal document. However, the above factors should be a prerequisite and the absence of any of these can make your appraisal document invalid and unacceptable to many authorities.
Is Appraisal & Grading the same thing?
No, they are not! Appraisal and grading are two completely different things that cannot act as a substitute for one another. Appraisals are authentic documents that detail the information of a jewelry item which includes the visible, analyzable, and measurable aspects. On the other hand, a jewelry grading report offers a subjective report that grades the ornament on a scale of different values.
Benefits of jewelry appraisal
Opting for a jewelry appraisal offers a number of benefits. For instance, you can get better exchange value for your jewelry items in any diamond store in South Beach Miami. Gemstones and other valuable ornaments are likely to be bought if appraised by a credible dealer. You don’t have to compromise on the sale value of the item if you can offer a valid appraisal document. The jewelry market is quite fragile and involves a high risk of losses and fraud if not cautious. Therefore, having an appraisal done for your jewelry will always keep you on the safe and profitable side.
In addition to this, appraisals also make insurance and loan procedures easy and convenient. Gold and jewelry loans have emerged to be a viable source of financial aid; however, these institutions have strict regulations when it comes to loan collaterals. In such situations, a jewelry appraisal is mandatory before keeping them as an indemnity. You can avail of varied loan and insurance facilities with a jewelry appraisal done.
Checking for jewelry appraisal near me is always a smart decision as it offers a variety of advantages. Be it a profitable exchange or immediate financial aid, appraised jewelry items can fetch an instant value. You don’t have to opt for random jewelry inspection processes or grading to finally get an estimated market value for your jewelry item. An appraisal is widely recognized and accepted. Hence, appraisal fetches benefits in all regards.