WHAT IS A JEWELLERY APPRAISAL?
In the Jewellery Industry, an appraisal is a valuation of jewellery. It is also known as a Certificate of Evaluation and is done for new and previously owned jewellery.
WHO CAN PROVIDE A JEWELLERY APPRAISAL?
In Canada, the person providing a valuation of jewellery or Certificate of Evaluation is authorized or certified from a regulated body. The body that oversees jewellery appraisers in Canada is the Canadian Jewellers Association (CJA). The CJA is responsible for awarding the Certified Appraiser Professional (CAP) designation.
WHY SHOULD I CONSIDER GETTING A JEWELLERY APPRAISAL?
Most people, whether homeowners or tenants, invest in some sort of house/property insurance. Many include their jewellery as part of the home contents while others insure their jewellery separately depending on the type and value.
Appraisals are typically for insurance claim purposes when jewellery is lost or stolen. In situations where you cannot produce an original bill of sale for your insurance company, the appraisal is the next best thing. In reality, many of us have misplaced our bill of sale or toss in the garbage thinking we will never need it. Depending on when the item was purchase, the ink on the bill of sale can be faded and illegible and therefore gets tossed in the garbage.
A great hab
it to get into is to keep a digital copy of your bill of sale. Whether you scan it or take a photo, it's a great way of getting rid of paper too. I would, however, recommend checking with your insurance broker first to ensure that they will in fact accept a digital copy.
WHAT TYPE OF INFORMATION SHOULD BE INCLUDED IN A JEWELLERY APPRAISAL?
The following information must be on a Certificate of Evaluation provided by a Certified Appraiser:
- Name, address, and phone number of company
- Name and title of the appraiser
- Embossed stamp of the appraiser and signature/initials over the stamp
- Appraisal certificate identification (ID) which is unique to every appraisal done by
- Full description of the jewellery which includes the following where applicable:
- Type of item - earrings, chain, bracelet, etc.
- Type of metal - 10K, 14K, 18K, platinum etc.
- Metal colour - yellow, white, rose, yellow/white, white/rose, etc.
- Type of stones - mined/lab grown diamonds, genuine/synthetic stones etc.
- Four C's - carat weight, clarity, colour, cut
- Measurements - length, width and depth
- Total weight of items - in grams and carats where applicable
- Although this is optional, you may see the name of a person or business on an appraisal. If jewellery has been custom made for someone, the appraisal may show the person’s name. In other cases, it may show the name of a retailer or be left blank.
Although there is no money in the world that can replace the sentimental value that family heirloom jewellery has, having a certified appraisal will help you immensely in receiving financial compensation when it lost or stolen. Remember an appraisal is a recognized and accepted document used by insurance companies when establishing replacement values.
Gold’n Glitter is happy to provide our clients with jewellery appraisal services from a Certified Appraiser. Contact us and we will be happy to help you. If you wish to have an appraisal done, the cost will be $45 per item. Jewellery that is more detailed and requires above average time may be as high as $75.00.
All clients that purchase a diamond engagement ring, diamond wedding band or diamond earrings will receive a complimentary appraisal at no cost.
