Everything You Need To Know About Jewelry Appraisals
Looking to get your jewelry appraised? You may have some questions as to what jewelry appraisals are, how much they cost and just how accurate they really are. Our study highlights how jeweler’s appraisals provided to consumers often contain overly optimistic diamond color and clarity grades.
When consumers buy diamonds and gemstones, they often gain a sense of confidence and security from the grading certificates provided by jewelers. But in a study we conducted, we looked to quantify the extent to which such jeweler’s appraisals tend to over estimate the color and clarity of the stones. We take a close look at the question: how accurate are jewelry appraisals?
- What is a jewelry appraisal?
- Where to get jewelry appraised?
- How much does a jewelry appraisal cost?
- How accurate are jewelry appraisal?
What Is A Jewelry Appraisal?
Appraisals are often done for insurance purposes or for peace of mind when buying a piece of jewelry. They provide a detailed description as well as an estimated cost to replace. They are provided by a jeweler and not a recognized diamond grading laboratory.
Where To Get Jewelry Appraised?
Many retail jewelers and local jewelers will offer an appraisal service. One of the advantages of jewelry appraisals is that they are readily available all over the country.
How Much Does A Jewelry Appraisal Cost?
Appraisers charge either a flat rate for this service or a price depending on how long it will take them. A jewelry appraisal will typically cost $50-$150.
How Accurate Are Jewelry Appraisals?
We conducted study during the second quarter of 2013, which involved 220 evaluations by our team of GIA trained gemologists. According to our jewelry appraisal study, we discovered the following:
- Clarity: We found that the jeweler’s appraisals graded an average of 1.3 grades higher than the grade determined by our evaluation team, which relies on internationally recognized standards set by the Gemological Institute of America (GIA).
- Color: Our experts also found that the color grades in these jewelry appraisals were approximately 1.9 grades higher than the GIA equivalent.
What To Know About Jewelry Appraisals
For consumers, the takeaway message is clear:
- Overly Optimistic Gradings: Optimistic grading certificates from jewelers should be taken with a pinch of salt. When it comes to the returns consumers stand to receive in the second-hand diamond market when they sell diamonds, this is not the best way to accurately ascertain the stone’s value or characteristics.
- Importance Of Color & Clarity Grades: What truly matters is the actual color and clarity of the stone as determined by a recognized diamond grading laboratory, such as the GIA, or GIA trained experts, such as those here at WP Diamonds. Consumers should be circumspect, to say the least, about non laboratory grading certificates as they can give a very false expectation of resale value.
At WP Diamonds, we present our customers with a pricing range based on first-hand evaluations by our valuation team. We put a premium on making this evaluation process completely transparent. We see the dialog with clients as one of the most important services we provide, because our goal is to help our customers make informed decisions.
Our clients tend to be passionate about diamonds. Ultimately, they understand that true confidence in a diamond transaction comes, not from a piece of paper, but from fully understanding the relative merits of the stone.
How To Sell Diamonds Online
Whether you are looking to sell your engagement ring after divorce, loose diamonds or other diamond jewelry, WP Diamonds is a leading diamond buyer. Sell your jewelry quickly and easily to the diamond experts.
Our team of GIA trained gemologists buy your diamonds and diamond jewelry in as little as 24 hours. We are proud of our streamlined, transparent service with honest price quotes- no fees or commissions deducted from your final offer.
Sell online with our free shipping and insurance, or in person at our offices in NYC, Tokyo, Hong Kong and the UK. With over 1,000 customer reviews and an A+ BBB rating, customer service is at the heart of what we do.