A pearl of wisdom

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Did you know...

It's a good idea to have your appraisals updated about every five years.

  1. Insurance companies only insure to the date of the last formal appraisal. So if your diamonds or other valuables have gone up over time, yo will not be compensated to today's market value for replacement purposes.

  2. Appraisal fees should never be based on a percentage of the value of your jewelry. It gives the jeweler motive to over price your jewelry. And you wind up paying more for your insurance in the long run. Charges should be based on a per hour of flat rate basis.

  3. When looking for a qualified appraiser it is generally best to have a graduate and/or certified gemologist do the work. These days, most insurance companies only accept appraisals completed by Graduate Gemologists.

Brad Congress