If you experience the loss of a loved one, we want to extend our condolences. We know this is a difficult time, but it’s a crucial time, too. Jewelry appraisals MUST be on file by all insurance companies before any items are lost, damaged, or stolen. It’s required! Having your items insured with an up-to-date appraisal is the only way to ensure that you will be adequately compensated for replacements if your jewelry is lost, damaged, or stolen.
For over 30 years, Jewelry & Coin Mart has completed appraisals. You can trust us! Below are commonly answered appraisal questions.
So, what does an appraisal look like?
You bring your items into our store with any paperwork, authorization, or other essential item documents for the appraisal. You will place your items onto our pads, and your appraisal will begin. To be better identified if found, appraisals must have pictures of the items. We offer to take photos of all assessed items, or you can do so as we evaluate. Your insurance will cover damages or the loss of a part of the item, so photographing them is crucial.
Depending on the item, our independent jewelry appraisals include a photo and a detailed description, including identification of the gemstones, metal composition, grade and weight of the stones, fineness, and weight of the precious metal, quality, and artistry.
How long does an appraisal last?
It depends on how many items you have, but it’s our goal to appraise in less than one day. There’s no need to leave or wait days or even weeks. We have a qualified appraiser on staff and a GIA Graduate gemologist to authenticate your gemstones and diamonds.
Why are appraisals critical?
Check your homeowner’s policy to ensure that jewelry is covered! All insurers have a limit on what they will pay out on a single item, so certain items are covered under separately purchased policies. They also need a documented evaluation appraisal based on jewelry appraisal values. It’s standard to keep your jewelry appraisals up-to-date every five years. With inflation and the fluctuating prices of gold, silver, and platinum, you should see an appraiser regularly. Using the same appraiser can be helpful as they keep records and often photographs of the items they evaluate.
What does an appraisal cost?
Appraisal fees start at $85 for the first item. There’s a sliding scale discount for multiple items and an adjustment for complicated jewelry items with many gemstones or complex rarities that require more time and research for evaluation.
Please call 847-839-9500 to schedule an appointment.