Jewelry appraisal: what it costs and what it includes

What it costs

A written appraisal of a single piece commonly costs around $50 to $150 in the US, more for complex or high-value pieces, and collections are often billed by the hour. Two fees are warning signs. A fee set as a percentage of the value is considered unethical by the professional appraisal organisations, because it rewards a higher number. A “free appraisal” from a shop that wants to buy the piece, or sell you a new one, is a sales conversation, not an appraisal.

Three values for three purposes

Ask which value you are paying for. A proper report names it, and the same ring can carry a replacement value several times its resale. Selling pre-owned jewellery explains why.

What a proper report includes

• The purpose of the appraisal and the type of value it states
• A description of each piece: metal and karat, weight, measurements, construction and condition
• Each stone identified and graded, with its estimated or certified weight
• Any laboratory reports it relies on
• How the value was reached, and the date it applies to
• Photographs of the piece
• The appraiser's name, qualifications and signature

Who to trust

Gemmology and appraising are different skills. A GIA Graduate Gemologist (GG) or a Gem-A Fellowship (FGA) shows the person can identify and grade stones; appraisal designations show they are trained to value them: the American Gem Society's Certified Gemologist Appraiser, the American Society of Appraisers, the National Association of Jewelry Appraisers and the International Society of Appraisers. An independent appraiser who neither buys nor sells jewellery has no reason to push the number either way.

How long it stays valid

Values move with gold and stone prices, so insurers commonly ask for an updated appraisal every three to five years for valuable pieces, and sooner after a large move in prices or if the piece is altered.

Can I get my ring valued online?

Two things go by that name. Online appraisal services review your photos and documents and return a signed report in days, for a fee; Kubikly vs online appraisal services compares them. A price estimate is faster: Kubikly's jewelry price estimate reads a photo or a certificate and gives a line-by-line figure with ranges for new, resale and scrap, with every number labelled with its source. It is not an appraisal and insurers will not accept it, but it tells you what you own before you pay anyone.

Before you go

• Bring any grading reports, receipts and earlier appraisals.
• Clean the piece; dirt hides stones and hallmarks.
• Decide the purpose first: insurance, sale, estate or curiosity.
• Ask for the fee in writing, as a flat or hourly rate.