Best Jewelry Appraisers in Philadelphia
Our Appraisal Services
It can be an exciting adventure to purchase a new piece of jewelry for yourself or someone you love. It can be easy to get caught up in the sparkle of the piece and the way it graces your finger, envelops your wrist or lays effortlessly across your neck. At first, your excitement may overshadow the price of the jewelry piece you’re considering.
In most cases, a good piece of jewelry will be worth the investment, especially if it’s something you will wear often. To ensure the investment is a sound one, it is important to consider jewelry appraisal services in Philadelphia or Montgomery County, PA.
Jewelry Appraisers – Why Get New Jewelry Appraised?
When you purchase jewelry insurance, the premium you pay is often based on how much the jewelry is worth. Your premium is the amount of money you will pay each year to maintain the coverage. What would happen if you place a claim on a piece of jewelry only to find that the value was not correct for the jewelry you have? You may not end up getting the amount of money for the claim you need to replace or repair it because it wasn’t properly appraised.
This is exactly why jewelry appraisal services in Philadelphia and Montgomery County, PA are crucial when buying a new jewelry piece. Alternately, if appraisers value your jewelry more than it’s worth, you may end up spending more money each year on insurance premiums than the piece is worth. It is important to insure your jewelry for what it is currently worth to replace or repair. Some jewelry may need to be valued by jewelry appraisers annually to find it’s worth when renewing your insurance.
Other Reasons To Hire Jewelry Appraisers
On top of insurance-related risks and not getting the proper value, there are a couple of other important reasons to obtain jewelry appraisal services in Philadelphia or Montgomery County, PA. First, the appraisal will offer proof of ownership if your jewelry is stolen and then recovered by local police. Second, if you ever decide to sell your piece of jewelry, an updated appraisal from jewelry appraisers will ensure you get what the piece is worth.
No matter what reason pushes you to obtain jewelry appraisal services in Philadelphia or Montgomery County, PA, it is important to understand some of the basic industry guidelines and terminology beforehand. This will allow you to trust our qualified jewelry appraisers.
Jewelry Appraisers Vs. Diamond Grading Reports
Unless you have purchased a lot of jewelry in the past or worked in the industry, the terminology included in various documents you received when obtaining jewelry appraisal services in Philadelphia or Montgomery County, PA can be quite confusing.
- You will receive a point-of-sale document that is similar to a purchasing agreement or receipt when you visit jewelry appraisers. This document typically includes a couple of sentences describing the retail value of the piece of jewelry in question.
- Diamond grading reports are more commonly used when purchasing engagement rings in Philadelphia and other areas such as Montgomery County, PA. This report will include everything about the diamond, especially the “4Cs” of the diamond itself.
- Jewelry appraisers will assign a value to your piece of jewelry as a whole while taking into account any stone or settings included.
Even with jewelry appraisal services, many appraisers and jewelers will include different types of appraisals. A replacement value jewelry appraisal will include details on the cost it will take to replace the jewelry with the same quality and settings in Philadelphia under the current market pricing.
When receiving a comparable replacement value jewelry appraisal, this is the cost to replace an item that is no longer available. This type of appraisal is often found with antiques and pieces of estate jewelry in Montgomery County. With watch overhauls in Philadelphia, a fair market value jewelry appraisal may be used to determine the price a seller or buyer is willing to agree upon during a sale. This is often used for tax liability, estate settlement and other legal issues.
Cost Of A Jewelry Appraisal
We understand that you want professional appraisals that don’t cost an arm and a leg. Appraisers will offer their service for flat fees per piece or by the hour. We do not charge fees based on the value of the jewelry. This is considered unethical because an incentive will exist for the appraiser to try and inflate the value to collect higher fees. Typically, the hourly rate for an appraisal will range from $50 to over $150. The actual cost of the appraisal will depend on how complex the pieces are to value.
Appraisals often include laboratory work to inspect the piece thoroughly and conduct market research to compare similar pieces before writing the actual appraisal document. Just like with many other skilled service professions, you will get what you pay for when it comes to an appraisal at My Jewel Shop.
Our appraisers are skilled and professional and customer service is of the utmost importance to us. Do not be lured in by other appraisers who offer fees that are much lower than the industry standard. If it seems too good to be true, it often is. We will provide the best services for your appraisal and answer any questions you may have.