Diamond Memo – If you’ve been shopping for a diamond using one of the big Internet databases, you may have noticed a curious phenomenon: It’s called “Diamond Memorandum.” Multiple dealers will have the same stone for sale, you know this because it’s got the exact same GIA report, but they’ll have minor differences. Cut grades. Minor … Read more
A “free” jewelry appraisal may sound great; but “free” is not free. Read this article to learn about what to ask of your potential Jewelry Appraiser.
[sc_fs_multi_faq headline-0=”h2″ question-0=”1. What does “Like Kind and Quality” actually mean in a jewelry policy?” answer-0=”It means that if your jewelry is lost or stolen, the insurance company is committed to replacing the item with a piece of similar nature and value rather than simply giving you a cash payout. The insurer uses the specifications … Read more
[sc_fs_multi_faq headline-0=”h2″ question-0=”1. Why do I need a professional appraisal to get jewelry insurance? I” answer-0=”Insurance companies require a detailed appraisal because it defines exactly what they are insuring. Without a professional description, the insurer wouldn’t have the necessary specifications to provide accurate coverage or replace the item correctly in the event of a loss.” … Read more
Any statement of value must contain the elements of what something is worth, to whom, when and under what circumstances. An unexplained number is at best useless, and quite possibly misleading. That’s just fundamental to the concept of value and nearly every discussion of value ends up with someone talking about ‘fair market value’ as … Read more
What is an American Gem Society Independent Certified Gemologist Appraiser?
[sc_fs_multi_faq headline-0=”h2″ question-0=”1. Why is my jewelry’s resale value so much lower than the value on my appraisal report?” answer-0=”Most appraisals (roughly 90%) are written for insurance replacement purposes. This value represents what it would cost to buy a brand-new equivalent at a local retail store, including the jeweler’s profit, labor, and “bundle of benefits” … Read more
[sc_fs_multi_faq headline-0=”h2″ question-0=”1. Why isn’t an “appraised value” just the amount of money I can get if I sell my jewelry today?” answer-0=”An appraisal for insurance is not the same as a “bid” to buy. When you sell jewelry, the price depends on who is buying, their current inventory, and even their local popularity. An … Read more