A diamond appraisal will give you peace of mind because it lets you know if the diamond jewelry you bought is worth the money you spent on it.
It likewise provides safety through insuring your diamond jewelry for its full replacement value.
It is important for insurance purposes, future upgrades, and possible resale.
Whatever happens to your diamond jewelry, an updated diamond appraisal provides you the full current value of your diamond jewelry.
An old appraisal will give you more worry than benefit. In short, the more updated your diamond appraisal is, the better.
Generally, any appraisal gives useful information about a specific property.
It gives a full description of the property’s value and is an independent assessment of its value.
It is one of the most complicated and most important documents to complete accurately.
Jewelry and diamond appraisals to be more specific, are valuation reports for jewelry items prepared by Independent Certified Gemologist Appraisers (ICGA) and Certified Gemologist Appraisers(CGA) of the American Gem Society who were educated in gemology and in jewelry and diamond appraisals’ methodologies.
A diamond appraisal is different from a diamond grading report or certificate which provides details of the 4Cs (carat weight, cut, color, and clarity) but comes without a dollar estimate or value.
Here are the reasons why the ICGA and CGA are considered prestigious titles and why they are the best source for fair and accurate appraisals:
When getting a diamond appraisal, you should trust only a credentialed professional who will provide information and reliable documentation on the quality and value of your jewelry.
A gemologist appraiser certified by the American Gem Society is an unbiased appraiser that you can trust.
Make sure that the jewelry appraiser of the jewelry store where you buy your diamond jewelry has these characteristics, along with proper training and pertinent qualifications.
Most diamond companies and wholesale diamond dealers offer a complimentary diamond appraisal along with your purchase.
The appraisal process includes setting your standards early on with your appraiser by establishing your needs and purpose of the appraisal because the function of the appraisal or report will determine the value assigned to your diamond jewelry.
Have the appraisal conducted in front of you to make sure that they will appraise your jewelry and not switch it with another jewelry.
What you would expect in a diamond appraisal includes a detailed report of:
The rate for a diamond jewelry appraisal is based on the appraiser’s expertise and your location. It can range from $45 to $155 or more per hour.
According to Diamond Pro, there are two important things that you should look for in getting a piece of diamond jewelry appraised:
A good deal on appraising is when you are charged significantly less by appraisers compared to others. However, be careful because an appraiser that charges very low might be inexperienced and not properly credentialed. Your appraisal might turn into a jewelry appraisal scam.
Ask for a minimum fee before proceeding with the appraisal so that you will have an idea of how much you will need to pay.
An unbiased information or appraisal on how much worth your diamond jewelry comes from reliable appraisers who do not charge based on a percentage fee but charge a flat rate based on their time.
It is important that you choose an appraiser that charges a flat rate or charges by the hour or by the piece.
Independent third party jewelry wholesalers should always provide a diamond appraisal for every diamond purchase.
Current market conditions, with all the economic volatility and turmoil, causes a considerable change in the purchase price of diamonds.
Thus, a diamond appraisal is secure information of a diamond’s fair market value.