Frequently Asked Appraisal Questions

Oct 04, 2011

We recently sat down with our in-house appraisal specialist in order to answer a few questions about jewelry and watch appraisals for our readers.

Q: What does an appraisal contain?

A: Most of the appraisals we do are for insurance replacement purposes. They are done in accordance to ASA (Appraisal Society of America) standard with GIA grading system. Most contain a picture, description of the piece including cut, color, clarity and carat weight – insurance requirements. Net weight of piece in dwts (pennyweights) gemstones and their quality. If a lab report is available that information is included after we validate it with GIA, AGS, or EGL. These labs will only grade loose stones, which is the most accurate method. I usually have to take measurements as the setting allows and do non destructive tests with the equipment I have.

Q: How often should my jewelry be appraised?

A: Usually, that is a question for your insurance company. Some policies have automatic increases to account for inflation. With the radical increases in the market of metal prices and diamond prices, many appraisals may be undervalued. Most Insurance companies require new appraisals if you change companies.

Q: What’s the difference between a jeweler and an appraisal specialist?

A: Jeweler is a loosely used term. Many appraisals are done by people with no special training at all, some by gemologist with no training in the science of appraising. A point of sale appraisal is pretty straight forward and usually accompanies the purchase because most insurance companies won’t accept a bill of sale.

Q: Why do I need an appraisal?

A: You should check with your insurance agent and see what kind of coverage you have and what your limits are. Many policies don’t cover valuable jewelry without a separate rider.

Q: How long does an appraisal take?

A: That depends on the items and the workload. We try to accommodate our customers, but a detailed, accurate appraisal takes time, sometimes hours. We don’t do appraisals on Saturday.

Q: Do I need an appointment for an appraisal?

A: If you are willing to leave the jewelry it can be dropped off at any time. If it hasn’t been inspected recently ( within the last 6 months) it probably needs to be evaluated and cleaned by our master jeweler anyway. Jewelry needs maintenance just like anything else in your life that you value. Many times prongs are worn down, stones are loose etc. If repairs are needed, the appraisal and repairs can be done in the same time frame.

Established in 1912, King Jewelers has built an outstanding reputation steeped in quality, value and first-class customer service. With two store locations in Aventura, FL and Nashville, TN, King Jewelers has won numerous awards as the Southeast’s top jewelry store and diamond wholesaler. King Jewelers is the luxury destination in Miami and Nashville for fine jewelry, diamonds, and Swiss timepieces. King Jewelers is a member of the Jewelers of America, American Watch Guild, and the American Society of Appraisers. King Jewelers has GIA Certified Gemologists and offers expert jewelry and watch repairs.


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