We see a lot of people who come to our store with jewelry that has been passed down in the family. Or they purchased a piece on vacation or it was received as a gift. Our professional jewelers are trained to appraise jewelry to determine the value of each piece in today’s market. Then we determine what type of appraisal/evaluation they require. Preusser Jewelers discusses the factors that determine the type of jewelry appraisal you require.
Antique Jewelry
Just because a piece of jewelry is over 100 years old doesn’t necessarily make it worth more money.
What the piece is made from, type of stones, size, etc., factor in. Some styles are still desirable, and others are not. The condition of the piece will be a factor as well.
Trends
Prices for diamonds and gemstones follow demands and markets. Gold, platinum, and silver are commodities, with pricing that fluctuates all day, five days a week. The appraiser performs market research to determine the value based on what you need the evaluation for (insurance, estate, liquidation, or consignment).
Types of Evaluations/Appraisals
Lastly, we need to tell you about the different types of evaluations for your jewelry. These are based on the reason why you want to have your jewelry assessed in the first place.
Insurance Appraisal. The insurance value is done when you want to have the jewelry insured, so if it is lost, stolen or damaged, your homeowners or renters policy will allow it to be replaced. We assign this value based on what that item would cost today, plus a small percentage to allow for fluctuations in the market. We strongly suggest that an insurance appraisal for homeowners or renter’s coverage be updated every five years.
Value. Intrinsic value is the lowest price on this scale. This is solely based on the current market value of the raw materials that comprise the jewelry.
Have More Questions? Preusser’s Has Answers!
Our professionals offer appraisals at our store. The fee is based on the style and the number of items you want appraised. When complete, we will give you full documentation of what each piece is worth in the current market to the best of our abilities. Contact us online or call 616-458-1425 for more information. An appointment is required.