Busting Myths: The Truth About Jewelry Appraisal

January 8, 2024

When it comes to jewelry appraisals, there’s a treasure trove of misconceptions that can lead clients astray. Whether it’s misunderstanding the purpose of an appraisal or underestimating the importance of getting one, these myths can have real consequences. It’s time to shine a light on the truth and debunk some of the most common myths about jewelry appraisal.


Myth 1: An Appraisal Determines the Resale Value of Jewelry

The Truth: Many believe that the appraised value is what they can expect to sell their jewelry for. However, an appraisal often reflects the retail replacement value — what it would cost to replace the item at retail prices. Resale value, or what a buyer would pay for a piece, is typically lower. Understanding this distinction is crucial when considering insurance or selling your jewelry.

Myth 2: Appraisals Are Only Needed for Insurance Purposes

The Truth: While insurance is a common reason for getting an appraisal, it’s not the only one. Appraisals can be crucial for estate planning, tax assessments, and even personal knowledge. Knowing the value and details of your jewelry can inform many decisions beyond insurance.

Myth 3: Once Appraised, Jewelry Never Needs to Be Reappraised

The Truth: The market for precious metals and gemstones can fluctuate. Your jewelry’s value might change over time due to factors like market conditions, wear and tear, or even changes in fashion. It’s generally recommended to have your jewelry reappraised every 2-5 years, or after a significant market shift.

Myth 4: All Appraisers Are the Same

The Truth: Just as every piece of jewelry is unique, so too are appraisers. Their expertise, accreditation, and experience can vary widely. Look for professionals who are certified and have a strong reputation. The right appraiser will understand the nuances of different types of jewelry and the specific markets for each.

Myth 5: Appraisals Are Too Expensive to Be Worth It

The Truth: The cost of not having your jewelry appraised can be far higher. Without an accurate, up-to-date appraisal, you might not be able to insure your jewelry properly or might sell it for less than its worth. When you consider the potential financial risks, the price of a professional appraisal is a worthwhile investment.

Myth 6: Appraisal Prices Are Based on the Jewelry’s Value

The Truth: A common misconception is that appraisers charge a percentage of the jewelry’s value. Ethical appraisers charge based on the time and complexity of the appraisal, not the value of the item. This ensures their impartiality and integrity.

Myth 7: You Don’t Need to Appraise Jewelry You Don’t Wear

The Truth: Even if you don’t wear certain pieces, they might have significant financial or sentimental value. Appraising all your valuable jewelry, not just the pieces you wear regularly, ensures you have a complete understanding and record of your assets.


Understanding the truth behind these myths is more than just enlightening; it’s empowering. By knowing the facts about jewelry appraisal, you can make informed decisions about your valuable pieces, ensure they’re properly protected, and appreciate their true worth. Remember, an informed client is a savvy one, so the next time you consider skipping an appraisal or wonder about its worth, recall these debunked myths and make your decision with confidence.

Navigating the world of jewelry appraisal doesn’t have to be mysterious or intimidating. Armed with the right information and a trustworthy appraiser, you can ensure that your precious pieces are accurately assessed and protected.


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