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Having your jewelry appraised is not just important when you are hoping to sell a piece. Jewelry valuation provides a lot of helpful information to you as the owner for a variety of purposes. If you have never had your jewelry appraised, here’s what you need to know and why you should schedule an appointment right away.
Have Your Jewelry Appraised for Insurance
In the event of loss or damage, it is very important that you can present the insurance company with proof of the value of your jewelry pieces. In general, you will need to have an appraisal done every five years to get the most accurate payout for your jewelry. Since jewelry prices fluctuate often, you don’t want to have your ring or necklace insured for less than it is worth.
Have Your Jewelry Appraised for Accuracy
Even if the jewelry store you purchased from gave you an initial appraisal, it is still important to have a second opinion. You will want to verify that you got what you paid for.
Have Your Jewelry Appraised for Fair Market Value
If you ever decide to sell or trade a piece from your collection, you will want to know the fair market value at the time of the deal. This is the only way to get what you deserve for your jewelry at any point in time.
Don’t Rely on a Sales Receipt
Whether you’re talking to an insurance adjuster or you’re trying to make a trade, a sales receipt simply isn’t a good indication of what your jewelry is worth. In addition, even a sales receipt stored in a filing cabinet will age and become illegible before you need to use it as a reference.
Learn More About Your Jewelry
Aside from learning the value of your jewelry collection, an appraisal can also teach you plenty about the piece in question. You will be given an assessment of the materials used, including their quality, cut and more. You will learn about any defects in the materials that may be detracting from the value of the piece. You may even learn something about the history or source of the piece.
These are just five reasons you should keep a current appraisal on hand for all of your jewelry. It is always better to have an appraisal and not need it, than to need one and not have it. It may be the only way to replace lost, stolen or damaged goods in the future. Scheherazade Jewelers has a team of expert appraisers at our location inside the Galleria Edina. We invite you to visit us with your jewelry to learn more today.
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