Jewelry Appraisal - Austin When was the last time your jewelry appraisal was up-dated? Insurance companies recommend that consumers up-date their jewelry appraisal policy at least once every 3 years and longer than 5 years. Most insurance companies will not honor any appraisal older than 5 years. Our Graduate Gemologist jewelry appraisers have received their professional credentials from the Gemological Institute of America (GIA) and are senior members of the National Association of Jewelry Appraisers (NAJA), the only association dedicated solely to jewelry appraising. Set up your appointment today   Jewelry appraisal services are offered by WhiteFire as an additional benefit to our customers. We do not appraise jewelry ourselves, but we do work with independent jewelry appraisers we have come to know and trust. An independent jewelry appraiser is one who neither buys nor sells jewelry and provides an unbiased valuation of your jewelry. What is an appraisal ? A jewelry appraisal is a document that provides a thorough description and current value of your jewelry item. Who is qualified to appraise jewelry ? Currently jewelry appraisers are not regulated by the government. However, WhiteFire Jewelry has strict requirements for our appraisers. First, he or she must be a Graduate Gemologist, a classification issued by the Gemological Institute of America (GIA). In addition, an appraiser must be familiar with jewelry manufacturing methods and materials, style periods, and current jewelry markets. WhiteFire Jewelry appraisers are also affiliated with one of the major jewelry appraisal organizations (such as the National Association of Jewelry Appraisers), which require a high standard of performance for membership, as well as ongoing education on gemological and jewelry industry topics. Why do I need a jewelry appraisal ? You need an appraisal for two main reasons, to authenticate and evaluate the item in case of loss or theft. Jewelry items are typically costly sentimental items and no amount of money can truly replace the original item. However, it is of some constellation knowing that an item may be replaced when it is properly appraised and insured. Most insurance companies require an up-to-date appraisal in order to insure an item at the proper market level. As gemstone and metal prices fluctuate, usually increasing over time, an up-to-date appraisal and current insurance policy ensure that your jewelry is fully covered for its replacement value. Why can't I use my purchase receipt in place of an appraisal ? Most insurance companies do not accept a sales receipt alone as adequate information for an appraisal. Sales receipts are usually limited with the information needed to properly insure an item. On the other hand, an appraisal will provide important detailed information. Details will include among other things, such information as measurements, gemstone weights- usually by formula, quality and number of gemstones, metal content and method of construction. Our appraisals also include pictures of the item(s). What is the diffrence between an appraisal and a laboratory certificate ? A laboratory grading report is sometimes referred to also as a certificate. A grading report is a detailed description of a diamond or colored gemstone. This document is issued by one of a handful of gemological laboratories, and WhiteFire Jewelry can arrange for your stone to be certified. However, a laboratory certificate does not establish value, only gemological parameters. An appraisal provides a full description of a piece of jewelry, including a somewhat less detailed description of any diamonds or gemstones, identification of the metal or metals used, the style, period, and manufacturing method of the piece, and a current replacement valuation. How do you know if your jewelry item is worth insuring ? Well, thats what a jewelry appraisal is for. The jewelry appraisal will disclose among other things, a detailed evaluation of your jewelry item. A good rule of thumb is if the value of the item in question is $1000 or more, then it is probably a good idea to have it properly appraised and insured. What type of appraisals do you offer ? Most jewelry is appraised for insurance purposes called a Retail Replacement appraisal. Jewelry can also be appraised to establish resale value and for estate and donation purposes. How long does it take for an appraisal ? Jewelry appraising has two stages. In the first stage, the item is physically examined by the appraiser. Gemstones are measured to determine carat weights. Both diamonds and colored gemstones are color and clarity graded. Metals are tested. Other identification tests may also be performed. Time required for the first stage, examination, depends on the complexity of the item, including the number and type of gemstones. For example, examination of a simple diamond solitaire ring will require approximately 45 minutes to an hour. On the other hand, a bracelet with several kinds of colored gemstones may take 2-4 hours to examine. The second stage of the appraisal focuses on researching the replacement cost of the item and preparing the appraisal document. Usually the appraisal will be produced within 2-4 days. However, an unusual, rare or more complex item may take longer. Your paperwork may then be picked up or mailed to you. Do I have to leave my jewelry for an appraisal ? No. Not if you do not want to. You are welcomed to meet our appraiser an wait in the comfort of our office until the initial inspection of your jewelry item is complete. However, please note the actual paperwork pertaining to your appraisal will NOT be completed until a few days later. What does it cost for an appraisal ? The price of a written jewelry appraisal is dependent on the number of items being appraised. For more than one item, a discount is applied. For instance any second or third item is discounted accordingly. Once I have the appraisal, what do I do with it ? At WhiteFire we provide our clients with an original appraisal and a copy. The original appraisal is for your own personal records. The copy is for you to forward to your insurance company. WhiteFire also maintains a copy for future up-dates or possible claims. How often do I need to have my jewelry re-appraised ? Different insurance companies have different requirements, but, in general, 5 years is the longest any insurance company will honor an appraisal. However, It is recommended that you up-date your appraisal at least every 3 years. The last thing you want to happen is to learn that your appraisal is out dated and quite possibly under insured. We recommend you contact your insurance agent for more information about how often you should have your jewelry appraised and or revalued. Note that, if you return to WhiteFire Jewelry, you do not need to have your item re-appraised. The appraiser will simply match the item to the original appraisal and use that information to revalue the item. Revaluation is less involved and, therefore, less costly for you.