What is a Jewelry Appraisal?
Last updated: February 12, 2020
When looking to sell your jewelry, most people tend to include an appraisal in the process. A jewelry appraisal is the process in which a certified professional examines and states a dollar-value for a piece of jewelry.
What to Look for in a Jewelry Appraisal
- An appraisal process that matches the ultimate purpose of the appraisal
- A clear explanation of the grading process and measurements used
- A definitive statement of value with seal or signature by an authorized appraiser
- A statement of the appraisal purpose on the certificate
- An open discussion in which you can ask any questions of the appraiser
Jewelry Appraisal vs. Jewelry Grading
While jewelry appraisal is the process of assigning monetary value to a piece of jewelry for a specific purpose, diamond jewelry grading is the thorough evaluation of the jewel’s stone and its attributes: carat, cut, color and clarity. Gradings are carried out in renowned gemological laboratories like GIA and IGI by certified professionals. The market assigns value to diamond jewelry according to their grading, so if you know your stone’s 4 C’s, you can get an estimated market value. Ultimately, a diamond grading report is the most transparent, accurate and objective tool you need to determine how the market values your diamond jewelry in a specific moment in time.
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We only trust the best diamond grading lab in the world, GIA, to grade valuables prior to auction. Diamonds sold with GIA grading reports are considered more valuable and can command higher prices.
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Where Can You Find Out the Value of Your Jewelry?
There are a few ways in which you can learn the value of your jewelry. The most obvious route is at your local jeweler. They are likely to be certified and qualified to appraise your jewelry. In this case, you need to make sure that they carry out a resale appraisal, and not another kind of appraisal, like those for insurance or tax.
The first step to learning the value of your jewelry is to get a grading report by a reputable gemological lab such as GIA, IGI, GSI or AGS. A jeweler, or potential buyer will look at the details of the report and conduct an evaluation from there. If your jewelry does not include any precious gemstones and is made of a precious metal such as platinum or gold, you can simply have it weighed. The value of a precious metal is determined purely by its weight and position in the current market.
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Worthy provides up to $100,000 in insurance coverage for every shipment. We trust Lloyd's of London, a global leader in insurance since 1688, to protect all valuables auctioned on our platform.
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Worthy Jewelry Evaluation
When looking to sell jewelry with Worthy, an important step is verifying the details of your jewelry item to the buyers. Because each and every piece of jewelry we sell on behalf of our clients is unique, we have partnered with the world's leading grading laboratories, GIA & IGI to provide the most thorough evaluation possible. We take this extra step to help ensure that you receive the best value for your item. The purpose of the grading is not to assign value, only to create a clearer picture of your jewelry item so that buyers can place competitive bids with confidence. The entire process is as follows:
- Describe your jewelry and upload a few photos of it. Based on the provided information, we’ll conduct a market value analysis, resulting in a pre-auction estimate.
- We’ll provide you with a fully insured FedEx shipping label addressed to our headquarters.
- When your jewelry arrives we will photograph it and have it professionally graded at the GIA laboratory.
- The e-Diamond report and professional photos will be made available to you and the buyers interested in bidding on your jewelry.
- All you have to do is sit back, relax, and watch the offers roll in with the live auction viewer. Approve the final bid, and the money is yours!
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Worthy Auctions: Where the Appraisal Really Happens
The grading process at Worthy does not end in a monetary estimation. Following the evaluation, the item is photographed and accompanied by a professional sales description to be presented at auction. The auction is where your item is ultimately appraised. The value of your jewelry is ultimately decided by a large network of professional jewelry buyers rather than a single professional’s opinion. Once an item is made accessible to the network of buyers, they can begin to place bids based on the image and description. This process ensures that you will get the highest fair market value, what your item is really worth in the context of the greater market.
Jewelry that includes gemstones will typically get a higher offer than those without. Diamonds are typically of the highest value depending on quality determined by the 4 C’s. Other precious gems such as sapphires, rubies, and emeralds are also very valuable and are measured on a similar scale as diamonds however with other characteristics also considered. Gems can vary in quality and on value based on cut shape, depth, and color saturation. Colored gems, like diamonds, are commonly faked. It is important to remember that when buying jewelry it is from a trusted and reputable seller that can provide certifications and paperwork. Here at Worthy, we have seen quite a few pieces that were found to be replications or only partially real.
If you are looking to sell a valuable piece of jewelry with Worthy, we offer a complimentary GIA grading as part of our services at no cost to you and without any commitment to sell the item on your part. The ultimate jewelry appraisal will be available to you and any prospective buyers looking to buy your item.