Appraisal vs. Grading Report: What’s the Difference?

If you’ve recently purchased a diamond or inherited a piece of fine jewelry, you may have come across two important documents: a grading report and an appraisal. While both are valuable, they serve very different purposes—and confusing them could lead to mistakes in insurance, resale, or valuation.

At Associated Gemological Services in Hawaiʻi, we help clients understand their jewelry’s value with clarity and accuracy. In this post, we’ll explain the key differences between a gemological grading report (like a GIA report) and a professional jewelry appraisal, and help you understand when you need each one.

 What Is a Grading Report?

A grading report, sometimes called a diamond or gemstone certificate, is issued by an independent gemological laboratory—such as the Gemological Institute of America (GIA), AGS, or IGI.

A grading report typically includes:

• Gemstone identification (natural vs. synthetic)
• The 4Cs: Cut, Color, Clarity, and Carat Weight (especially for diamonds)
• Measurements and proportions
• Fluorescence, symmetry, and polish details
• A unique report number for verification

What it does not include:

• Market value or replacement cost
• Condition of the setting or metal
• Photographs or insurance-ready documentation

A grading report is a technical assessment of a gemstone’s characteristics, performed under lab conditions. It does not evaluate the entire piece of jewelry, nor is it sufficient for insurance or resale purposes.

 What Is a Jewelry Appraisal?

A jewelry appraisal is a formal valuation document prepared by a certified gemologist or appraiser. It assigns a monetary value to a piece of jewelry and includes:

A professional appraisal provides:

• A detailed description of the entire item (stone + setting)
• Photographs of the piece
• Condition and craftsmanship assessment
• Current market value or replacement value
• Appraiser credentials and signature
• Documentation accepted by insurance companies, attorneys, and estate planners

Appraisals are conducted outside the lab, with real-world market considerations like craftsmanship, designer value, current gold prices, and comparable retail replacements.

 When Do You Need a Grading Report?

A grading report is useful when:

• Purchasing or verifying the quality of a loose diamond or gemstone
• Ensuring authenticity before setting a stone into jewelry
• Comparing diamonds side-by-side using the 4Cs
• Selling a certified stone to a reputable buyer

Think of it as a blueprint of a stone’s quality, issued by an objective lab—but it won’t tell you what it’s worth.

 When Do You Need an Appraisal?

An appraisal is necessary when:

• Insuring your jewelry for full replacement value
• Settling an estate or dividing inherited assets
• Selling jewelry and needing a fair market valuation
• Donating pieces for charitable tax deductions
• Applying for a loan using jewelry as collateral

Only a certified appraisal can assign a specific dollar value to your jewelry and ensure it’s properly documented for real-world use.

 Can You Have Both? Absolutely.

In fact, if your diamond already has a GIA report, bringing it to your appraisal appointmentis a great idea. Our team will:

• Verify the stone matches the grading report
• Incorporate that data into the appraisal
• Evaluate the full jewelry piece for accurate valuation

 Choose a Trusted Jewelry Appraiser in Hawaiʻi

At Associated Gemological Services, we specialize in providing:

• Independent, certified appraisals accepted by insurers and legal professionals
• Guidance on when and how to use grading reports alongside appraisals
• Personalized service tailored to Hawaiʻi’s market conditions and climate considerations

Whether you’re insuring a new purchase, appraising an heirloom, or seeking clarity about your diamonds and gemstones, we’re here to help.

Grading reports and appraisals are not interchangeable—they serve different, complementary purposes. Knowing when and why to use each ensures your valuables are protected, understood, and properly valued.

Schedule your professional appraisal with Associated Gemological Services today and bring your grading reports with you—we’ll help you make sense of it all.