Jewelry Appraisals

Posted on Thursday, February 6, 2025

Routine Jewelry Appraisals are Important, Here's Why

Read time: 2.5 min

Jewelry collections are precious, personal and oftentimes made up of family heirlooms and other cherished pieces. Whether it’s your great grandmother’s wedding ring, a gold bracelet you bought in Europe or a necklace you were gifted, jewelry can evoke feelings of nostalgia and remind you of certain people, places and stories that you want to remember.

Therefore, it is not only important to insure these valuable pieces, but also have them appraised routinely. While most items on your policy decline in value over time, have you thought about the items that increase in value like your jewelry? Let’s dive in and talk about why routine jewelry appraisals are important to make sure your collection is adequately covered.

A jewelry appraisal is a document written by a professional gemologist that describes an item, assesses its quality and assigns a value to it. Descriptions of the item usually include the visible, measurable and analyzable facts such as the weight, materials and markings. There are also subjective features of the item that can be included in the appraisal like the relative quality a

nd rarity.

According to Jewelers of America, when searching for a reputable jewelry appraiser, here are some things to keep in mind:

Ask for certification. A professional jewelry appraiser should be certified by a respected national
appraisal organization.
Ask for credentials. A Graduate Gemologist diploma (G.G.) from the GIA or its equivalent should be considered minimum gemological training.
Ask about continued education. To be knowledgeable and up to date on the latest gemological trends and issues, it is important for a jewelry appraiser to participate in continued education certificates and credentials.
Ask about experience. A wide range experience in the jewelry industry often leads to a more knowledgeable appraiser.

Unlike most other property items that depreciate over time, jewelry happens to appreciate or increase in value. Since the value of your jewelry items can fluctuate, it is important to stay up to date on your collection.

Most jewelers recommend getting your jewelry appraised as often as every two years. This way you will always have an accurate value, resulting in adequate coverage. In the event of a loss, most insurance companies including Auto-Owners will pay no more than the amount of insurance scheduled for each item. This is why it is so important to insure your pieces at their current value.

To keep your jewelry collection accounted for and protected, we recommend you:

Create an inventory of your items
Keep all documentation, such as bills of sale and appraisal reports
Check your insurance policy each year at renewal

Following these steps will protect your collection for years to come.

So, even if you had your great grandmother’s wedding ring appraised just a few years ago, it’s a good idea to have it done again. Knowing the current value of the item allows you to make an informed decision when selecting your insurance coverage limits.

Talking to your independent agent is a great place to start. They can tell you the amount of insurance each item is currently scheduled for on your policy, so when you get a piece of jewelry appraised again, you can know if the value you’re currently covered for is adequate.

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Disclaimer: This article is not expert advice. The analysis of coverage is in general terms and is superseded in all respects by the Insuring Agreements, Endorsements, Exclusions, Terms and Conditions of the Policy. Some of the coverage mentioned in this material may not be applicable in all states or may have to be modified to conform to applicable state law. Some coverages may have been eliminated or modified since the publishing of this material. Discounts may not be available in all states. Limitations and conditions may apply. Premiums will be based on benefits chosen. Please check with your local Independent Auto-Owners Insurance Agent for details.