You’ll want your engagement and wedding rings appraised, but what about other pieces? Angie’s List shows you why an appraisal is important and how to choose a reputable jeweler.
Can’t view the video? Here’s the transcript:
Megan Wright spent nearly four days searching her home for her missing engagement and wedding rings.
Megan Wright, consumer: “I was physically sick over this. I overturned everything in the house that I could think of looking for them.” Wright finally found the rings in her closet.
Wright: “My 4-year-old daughter had been in there playing dress-up. Swiped my rings, probably tried them on herself and she left them in the toe of my shoe.”
Wright recently had her jewelry appraised, so she was prepared had her rings been gone for good. If an item is lost, damaged, or stolen, an appraisal provides a detailed description of the piece.
Greg Bires, Windsor Jewelry Co.: “When you want to recreate the piece they’ll be enough detail: the stones, the metal, the weight, the quality of the stones, that you’ll get back exactly what you had. If you have a vague appraisal then it’s possible you’ll end up with a ring, but it won’t be the same quality or value you had originally.”
You’ll also need an appraisal if you want your jewelry insured.
Angie Hicks, founder of Angie’s List: “Having your jewelry appraised can make sure you have it valued at the correct amount, especially with the fluctuation we’ve seen in gold pricing. The price and value of your jewelry can and does change overtime so you want to be sure you’ve got it insured for the right amount. If it does end up lost or stolen you get the right return.”
Bires: "Gold was $300 to $400 an ounce four or five years ago, now it’s $1,200 an ounce.”
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Have your items appraised at least every three to four years. Expect to pay anywhere from $25 to $65 dollars per item.
Wright: “It’s very affordable and creates great peace of mind in the event that your rings end up in the bottom of your shoe (laughs).”
Angie’s List warns you should choose your appraiser wisely. Check for certification by a group like the American Gem Society, and steer clear of any appraiser who charges you a percentage of an item’s appraised value. Appraisals shouldn’t take much more than a day, so be wary if the appraiser wants to keep your jewelry much longer than that.
Angie’s List tips: Jewelry should be appraised every 3 to 4 years. Check Angie’s List for local reviews on appraisers.
MORE: Angie's List Guide to Jewelry