(Newswire.net — March 27, 2022) —
When it comes to getting your jewelry appraised, many misconceptions are floating around. Some people believe they need to have a certain type of jewelry to get it appraised, while others think that an appraisal is only necessary when selling their pieces.
1) Appraisers and gemologists do the same work.
This is one of the most common misconceptions about appraisers. While both appraisers and gemologists have expertise in analyzing and identifying jewelry, their jobs are quite different. Appraisers focus on determining the value of jewelry, while gemologists focus on studying the physical properties of gemstones. Therefore, you do not need to be a gemologist to get your jewelry appraised.
2) Appraisers determine the piece of jewelry value.
Contrary to popular belief, appraisers do not determine the value of the jewelry. Rather, they provide an estimate of what a piece is worth based on their expertise and knowledge. The market conditions determine the final value of a piece of jewelry at the time of sale. Also, it is essential to note that appraisers do not provide certification of authenticity. Therefore, if you want to get your jewelry appraised for insurance purposes, you will need to obtain a certificate of authenticity from a qualified gemologist.
3) Appraisals are only required for insurance purposes.
While appraisals are often used for insurance purposes, they can also be helpful when selling jewelry. An appraisal can provide potential buyers with an idea of the value of a piece and help to negotiate a fair price. Also, if you decide to donate or sell your jewelry to a charity, an appraisal can provide them with the information they need to ensure that they are getting a fair price.
4) Appraisals are expensive.
There is a common misconception that appraisals cost a lot of money. However, most appraisers offer free consultations and charge a nominal fee for their services. The cost of an appraisal is typically based on the complexity of the piece being appraised, and the time it takes to complete the appraisal. Also, many appraisers offer discounts for multiple items.
5) Appraisals should always be valued much higher than the purchase price.
This is not always the case. An appraisal is meant to provide an estimate of the value of a piece of jewelry at the time it is appraised. Depending on the current market conditions, the value may be higher or lower than the original purchase price. In addition, some jewelry pieces may appreciate in value over time, while others may depreciate.
6) Appraising can be completed within a short time frame.
This is another common misconception about appraisals. The appraisal process can be quite time-consuming, especially if the appraised piece is complex. It is important to allow enough time for the appraiser to examine and assess the piece properly. Also, keep in mind that the appraiser may need to consult with other experts to determine the piece’s value accurately.
Overall, appraisals are a necessary part of owning jewelry. They provide owners with an estimate of the value of their pieces and can be helpful when selling or insuring jewelry. If you are considering having your jewelry appraised, be sure to consult with a qualified appraiser to ensure that you are getting accurate information.