Jewelry Appraisals
What is a Jewelry Appraisal?
A jewelry appraisal is a document that describes an item, assesses its relative quality and assigns a value to it. Appraisals are typically done by certified gemologists or other qualified professionals, and can be used for insurance purposes, estate planning, or simply to get an idea of what a piece of jewelry is worth.
What does a jewelry appraisal mean?
A jewelry appraisal is an estimate of the value of a piece of jewelry, usually performed by a professional jeweler or appraiser. The appraisal takes into account the quality of the materials used, the craftsmanship, and the market value of similar pieces.
How does a jewelry appraisal work?
Jewelry is valuable, and that value can rise or fall depending on various factors, such as the value of materials in the metal and gemstone market. It is essential to understand this value because there are times when we need to insure our prized possessions and when we need to know how much an item is worth so we can sell it.
There are many types of jewelry appraisals, but they all center around finding the value of the jewelry in question. Some jewelry appraisal types are insurance, estate, and fair market. Every kind of appraisal serves a different purpose.
When should you get jewelry appraised?
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How to get jewelry appraised
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Why Get Jewelry Appraised?
What jewelry should be appraised?
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Should I get my jewelry appraised?
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Types of Jewelry Appraisals
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Jewelry appraisals for insurance
Insurance jewelry appraisals are needed when it comes time to add your jewelry to your homeowners or renter insurance. Jewelry is an expensive investment, and it is crucial to make sure it is appropriately protected in the event of damage, loss, or theft. An insurance appraisal shows the value of jewelry at the retail level; it would cost to purchase or remake the item with a jeweler.
Jewelry appraisals for estates
A jewelry appraisal for estate purposes is needed if you are the executor of an estate with jewelry items. These jewelry items must be appraised before they can be distributed to heirs, so the jewelry appraisal determines the value of each item for distribution purposes. We can also evaluate other assets for estate appraisals such as coin collections, watch collections, and sterling silver flatware.
We understand that discretion is top of mind with estate appraisals and offer virtual consultations for determining which items are in need of appraisals. Appraisal inspections can take place in your home, an office, bank, or in our offices in Towson, MD. If you are the executor of an estate or an estate attorney in need of our services, please call us at (410) 236-7088 for immediate assistance.
Jewelry appraisal for selling
When looking to sell an item and want to know what to expect, that appraisal type is sometimes called a ‘fair market jewelry valuation.’ Jewelers, not insurance companies, do this type of jewelry appraisal. A jewelry appraisal of this type is helpful for jewelry sellers, jewelry buyers, or people that inherit jewelry. The fair market jewelry valuation determines what an item is worth today in the open market.
One of the most common problems when someone is looking to liquidate their jewelry collection is not knowing if you’re jewelry is valuable. At Mayflower Estate Buyers we provide virtual and in-person Trinket or Treasure consolations. Our appraiser will inspect your items and let you know which items are worth appraising.
Jewelry appraisal vs. resale value
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