Oftentimes, we hear that “Jewelry appraisal cost me a lot; I just wanted to get it insured.” Jewelry appraisal essentially is a document done by various brands that documents information about the jewelry piece, evaluates its relative quality, and allocates a value to it. Jewelry appraisals also include information about the rarity of the item, the quality of the product and the manufacture, the measure, materials used, weight, and markings among others.
Jewelry Appraisal depends on what?
Usually, any jewelry brand will have an in-house jewelry appraiser whom you need to pay to get your jewelry appraised. Among all the fine jewelry, diamonds usually need appraisals quite often. Diamonds usually come with their own grading evaluation and depend on 4C’s viz. clarity, color, cut, and carat. Appraisals are mostly done for insurance purposes. Now if you hold valuable jewelry, you will surely want to protect it. In order to have total protection on it, an appraisal is highly essential. You might choose a jewelry insurance provider or a jewelry brand to do the appraisal for your diamond piece. In any case, insurance companies need an appraisal from a reputed appraiser who can provide an accurate and detailed appraisal of the jewelry.
Why appraisal costs are high
Appraisal values depend on hourly rates which often range from $50 to around $150. The charges might overshoot for diamond jewelry and depend on the complexity of the piece. A lot of brands include the charge of writing an appraisal, market research to check the market value of the jewelry piece in the market, and lab work. There are often some hidden charges which you may not be aware of. The concern with in-house jewelry appraisers working within the brand is their inflated rates. Either the value of jewelry is highly exaggerated and the stone information is overstated. The carat weight is often overblown, thus unnecessarily heightening the appraisal value.
High insurance charges
This, naturally, cascades into high insurance evaluation. Now, shelling out loads of cash on jewelry appraisal, especially when it’s your hard-earned money, is very difficult. Since the appraisal states highly inflated values for even simple pieces of diamond jewelry, you end up spending more on even a very simple piece of diamond jewelry.
The right solution to combat high appraisal and insurance charges
To help you with a fair insurance cost here and a just value for your jewelry, we have come up with a solution for your respite. We, at PLRL Jewelers and Daughters, offer free-of-cost jewelry appraisal from a third party. We get Jewelry appraisals done from GJI, New Delhi, who are industry experts and have profound knowledge and experience in appraisals of diamond and other jewelry pieces. The team is adept and genuine and that’s the best part about it. You will get only the right jewelry appraisal value and a justified insurance cost. Also, the free-of-cost appraisal is one-of-a-kind in the market and not many brands offer such. Hence, avail of this benefit, which we have rolled out for our valuable customer base.