Why appraise your jewelry?

We are required to insure our homes and automobiles against loss and possible legal actions. Many of us have life insurance to ensure our loved ones can carry on and start a new life. Unfortunately, few of us insure our jewelry for loss, damage and theft.

Most policy holders think they are covered by their homeowners insurance. This is somewhat true, but it covers a very limited amount and is not an “all risk” endorsement. Therefore, it is best to “schedule” your jewelry for an all risk insurance policy.

All insurance companies require an Appraisal or a Statement of Replacement Value to properly schedule your precious jewelry possessions. At H & H Jewelry Design, we provide you with an in depth statement of the current market value of each piece. We use the latest technology to ensure each item reflects current replacement price based on:

• Current precious metal market.
• Stones possible origin (region of the world it came from).
• Stones clarity (both diamond and colored stones).
• Stones color (both diamond and colored stones).
• Stones cut or make (proportions, symmetry and polish)
• Pearls require to be evaluated for size, shape, color, luster, blemishes and nacre quality.
• Manufacturing process; is the item a one-of-a-kind, hand-assembled, hand-made, piece from a particular era or mass produced?
• “The Guide” to accurately price each diamond, colored stone or pearl.

Let’s talk about the above items:

1. The precious metal market has been in a constant state of flux for the past seven years. On January 1, 2002, gold closed at $279, platinum at $480 and silver at $4.60. On January 3, 2011, gold closed for over $1400, platinum at $1750 and silver at $30.50. You can see what a significant jump metals have done over the last eight years. Any appraisal that is three years or older is not reflecting the current market value.
2. Many stones are more valuable if the source is known. This can greatly affect the value both positive and negative.
3. Once again, properly evaluating the stone’s clarity ensures proper value. All stones are graded using 10 power magnification of a gem scope.
4. Stones color is derived using a colorimeter (diamonds) and a color kit (colored stones). The colorimeter uses the software and intense light to ensure diamond’s accurate color. The color kit is used to identify exact color. The color of stones is used to derive accurate value.
5. Both diamond and colored stone “make” must be properly evaluated to ensure accurate value. Stones with poor or fair proportions and symmetry are worth far less then a stone with excellent or very good. Stones polish must also be evaluated. When evaluating diamonds, we use hardware and software to measure the proportions and symmetry. The hardware measures through light beams across the diamond. It provides and in depth report when completed. Colored stones are evaluated under 10 power observing cut, symmetry and polish.
6. Pearls are evaluated totally different from stones. In order to accurately derive their value, size, shape, color, luster, blemishes and nacre quality will be graded.
7. The manufacturing process must be figured into the price. One-of-a-kind, hand-assemble, pieces from a particular era or handmade jewelry is worth much more then mass produced. A special wax would have to be carved and a casting completed to replace specially made jewelry. Therefore, greatly increasing the appraised value.
8. We used pricing tables from “The Guide” to accurately derive the exact value based on the above. We use a nationwide standard mark up to ensure each appraisal reflects an accurate replacement value.

We invite you to experience the pleasant atmosphere of H & H Jewelry Design for all your jewelry needs. H & H is a third generation family owned store with our roots going back to 1946. Ron and Janine Alexander have owned the business since 1981. Ron has been goldsmithing for over 34 years and Jannine 28 years. We look forward to serving you, but most of all, ensuring your precious jewelry is properly insured.