How are Appraisals Different From JewelRecycle’s Offer to Purchase Your Items?
When you bring your items to JewelRecycle with the possible intention of selling them, we assess your items and make you an offer to buy them. Our competitive offer is based on our precise assessment of the value of your items, which depends on their content and resale value (if the items can be resold). There is never a fee for an offer from JewelRecycle, and there is no appointment necessary to receive an offer.
An appraisal, on the other hand, is a service that JewelRecycle offers to help you establish the value of your items for the purposes of insurance, equitable distributions, estate settlements, or the valuation of items for charitable contributions. We offer appraisals by appointment only, and we charge $120.00 per hour for our appraisal services. Our appraiser is a Gemological Institute of America-trained gemologist.
What is an Appraisal?
An appraisal is an official, professional valuation of a particular item at a particular time. An appraisal document describes all the relevant features and attributes that contribute to or influence the item’s value. For example, a diamond’s appraised value is influenced by its size, cut, color, and clarity.
There are four primary reasons why you may want or need an appraisal. These include:
- Insurance: You will need an appraisal in order to purchase insurance for fine jewelry (such as an engagement ring) so that the insurance company can provide the correct coverage.
- Equitable Distribution: In the event of a divorce, couples may need to know the documented fair market value for their items.
- Estate Settlement: An appraisal of valuable jewelry or other items is often needed to calculate the value of an estate when a person passes away.
- Valuation for Charitable Contribution: If you would like to donate a valuable item, an appraisal can tell you its value for tax purposes.
What Should I Expect at My Appraisal?
First, our appraiser will examine, test, and analyze each item. She will explain every step in the process and, unlike other jewelers and appraisers, your items will never leave your sight. The appraiser will consider the craftsmanship, composition, and quality of the items being appraised. She will use that information as well as other factors to arrive at the appropriate value.
You do not need to remain at JewelRecycle for the entire appraisal. Your items will be returned to you after a preliminary examination, and your written appraisal can be picked up or sent to you once it is completed.
How Much Does a JewelRecycle Appraisal Cost?
JewelRecycle charges $120.00 per hour for appraisal services. Typically, we can appraise up to three items without gems per hour. Items containing gems take at least one hour per item to appraise.
How Do I Set Up an Appraisal?
JewelRecycle is pleased to offer appraisals of fine jewelry and other valuables by appointment only at our Raleigh and Cary locations. Call us at 866-287-7896 to schedule your appointment.