How much does a jewelry appraisal cost?
Last updated: October 04, 2018
When looking to get jewelry appraised, one might wonder “how much will this jewelry appraisal cost”? Well, there is no single answer. Some jewelers and appraisers charge by the hour, some may try to charge you a percentage of the final value. Hourly rates can range from $50-150 per hour. There are also non-monetary aspects factored into a jewelry appraisal cost. First and foremost is the conflict of interest that may exist when working with a jeweler. If the jewelry was sold by a competing jeweler, they may try to undervalue it. Same goes if they want to buy it from you. It is important to trust your appraiser to be as objective as possible. The second factor is time. A lot of time can be spent finding the right appraiser and waiting for it to be completed. With Worthy, there will be no jewelry appraisal cost included in the process!
Reasons for a Jewelry Appraisal
There are a few different types of jewelry appraisals with varying purposes. You may want to get an appraisal for insurance purposes, tax/estate purposes/, or reselling purposes. You may be seeking a jewelry appraisal to verify a high price tag-but understand that a retail price for a diamond will not necessarily be reflected in the appraisal. In any case, you want the jewelry appraisal cost to be low and as objective and as accurate as possible.
Jewelry Appraisal vs. Grading
Most people think that a jewelry appraisal reveals the item’s absolute value. But this is not true. The appraisal states the Retail Replacement Value, or how much will it cost to replace the item, and it’s directly related to insurance policies. People tend to expect to get the appraisal value for their ring, but the truth is, it doesn’t reflect the diamond ring’s resale market value. To learn more about this, check out our recent piece: What’s My Jewelry Worth?
So if you’re looking to get your diamond jewelry appraised in order to get it insured, the appraisal is the way to go. But if you’re looking to sell or finance your diamond, what you need is a diamond grading report.
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Diamond Jewelry Grading
A diamond grading is the thorough evaluation of a diamond and its attributes: carat, cut, color and clarity. In contrast with appraisals, diamond grading reports do not assign a monetary value to the piece. They are carried out in renowned gemological laboratories like GIA and IGI by certified professionals. 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. The market assigns value to diamonds according to their grading, so if you know your stone’s 4 C’s, you can get an estimated market value, like the ones provided for free by Worthy.
100% Seller Protection
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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Why Are Worthy Diamond Gradings Free?
When selling jewelry at Worthy, we believe jewelry is more than just a keepsake, and we believe that a precise valuation is an important part of the sale process. In order for your jewelry item to fetch high offers, buyer confidence is vital. It is also a priority for us to share our experts’ findings with you so that you can understand the offers that are coming in. Offering a diamond grading cost free is an important part of what we do.
Why Trust Worthy if the Diamond Grading Costs Nothing?
Despite offering a diamond jewelry grading cost free, Worthy takes great pride in treating each and every evaluation with the dedication it deserves. Our foremost values include trust, transparency, and complete customer satisfaction-evident throughout the evaluation process and beyond. Our jewelry evaluations are 100% objective since we are not the ultimate buyer of your item. Additionally, we hold a Secondhand Dealer's License issued by the New York City Department of Consumer Affairs and are highly accredited by the BBB.
Luxury Item Protection
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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A Professional, Objective Jewelry Appraisal Cost Free
When you make the decision to work with Worthy, you benefit from a professional, objective, cost free diamond grading by GIA, the Gemological Institute of America, and GSI, Gemological Science International. This is unique to the industry, and is something you will not find anywhere else. In addition to being available at no cost to you, our appraisals are the best available. Because each and every jewelry item we sell on behalf of our clients is unique, we have partnered with the world's top leading diamond grading laboratories, who have the expertise and experience required to provide a complete evaluation. Our partners are equipped with the best, most scientifically advanced grading tools available. They are true professionals working at the top of their field – a claim very few local appraisers are able to make. With Worthy you can enjoy peace of mind knowing that your valuables are fully insured throughout transit and during storage in our ultra-secure facility.
There is absolutely no need for you to worry about appraiser qualification, and if you’d like to sell your item to a dedicated buyer, we offer jewelry auctions and jewelry consignment sales in which you may determine whether or not to accept the highest offer.
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How Worthy’s Cost Free Jewelry Appraisal Process Works
- 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!
Our unique auction process is where the true appraisal ultimately happens. The grading process at Worthy does not end in a monetary value statement. Following the evaluation, the item is photographed and accompanied by a professional sales description to be presented at auction. The value of your antique 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.
When you choose to sell jewelry with Worthy, we evaluate and prepare your diamond ring for auction. There is no cost associated with this process and absolutely no obligation to sell or accept an offer at any stage.