Frequently Asked Questions (FAQs)
Why an Appraisal?
Appraisals are important because it provides you with clear, easy-to-read evaluations, so you know what you’ve got and what it’s worth.
It’s sad but true – jewellery is lost or stolen all the time. A diamond wedding ring slips off and sinks to the bottom of a lake, a precious and sentimental string of your grandmother’s pearls gets grabbed in a break-and-enter. If you want to replace it, an appraisal is critical to receiving fair compensation in an insurance settlement.
Beyond an accident or a crime, an appraisal gives you the peace of mind that comes with knowing exactly what you own, and exactly what it’s worth – especially when you and your relatives are settling an estate.
How do you do a while-you-wait appraisal?
The appraisals are done at my office. You’re able to watch the whole process from start to finish. Insurance regulations require the appraisal be conducted in a separate work area, but you’ll be seated two meters away with a full view. As part of the service, we’ll also fully clean your items, since jewellery cannot be properly appraised until it’s completely clean.
How long does it take for a typical appraisal?
It takes approximately 15 minutes per item; more complex pieces with multiple gemstones may take longer.
Will I have to leave my jewellery at your office?
There are times when that will be necessary. We can typically do 5-7 items in a single appointment. However, if you have more than 7 items you may have to leave your jewellery. Otherwise, you can have the appraisals done over several appointments and keep the jewellery with you. If you decide to leave it with us, you’ll get a full, itemized receipt and we’ll contact you when the work is complete. We secure your items in our safe, so you can feel confident about leaving your precious stones with us.
Do you take the items apart when you’re doing an appraisal?
Never. All stones are measured by either a leverage gauge or a table gauge and a weight is provided. If you have an existing lab certificate listing the weight, the appraisal will indicate the exact or stated weight. Without a certificate the appraisal will state the approximate weight of the stones.
What kind of documentation comes with an appraisal?
When you bring your precious jewellery to us, you can be guaranteed a comprehensive, fully-documented appraisal. Here’s what we cover:
A full description of the item, including karat and weight of the precious metal, type of metal – gold, silver or platinum, trademarks and/or identifying characteristics such as engraving.
We provide a photograph along with the description, which makes it easier for replacement if your jewellery is ever lost or stolen.
Complete documentation of your diamond, colored stone, pearl or other gems including grading of clarity, colour, cut and carat weight. We also provide descriptions of other details such as laser inscriptions on your diamonds or stones, or any chipped or missing stones in your jewelry.
We provide an estimated value – used for retail replacement, estate sales, divorce settlements, charitable events, promotions, etc.
To ensure you’re confident in our work, we also provide relevant background notes associated with the evaluation, such as market conditions and prices of gold and or precious metals.
Diamonds, colored stones and other gems are always quoted in American dollars and then converted to Canadian currency. This is important because your gems and precious metals can and will fluctuate in value based on the currency exchange rate.
What if I need help understanding the appraisal?
That’s what we’re here for. We can explain each section of the appraisal document and answer any questions or concerns you might have. If you have additional questions down the road, just give us a call and we’ll be happy to help. We usually respond the same day during business hours.
What if I’m appraising my jewellery to sell?
Once we appraise your jewellery we’ll help you determine a fair selling price. The actual value of the jewellery depends on many variables including the condition of the item, the current price of gold or silver and currency exchange rates.