Question by Anthony: How much is reasonable for engagement ring appraisal?
I bought an engagement ring at Jared's yesterday. They said an appraisal would run $ 100-$ 200 depending on size of the ring, but they could do it immediately. I called on other jeweler today and they estimated it at $ 175 and they would have to keep overnight. What is a reasonable price to have an engagement ring appraised for insurance purposes? Any suggested stores around Philly/Newtown/King of Prussia areas?
Answer by Armstrong
I think appraisals are a waste of money. Just insure it for more than you bought it for. Its just a money grab.
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Why use Jewelry Appraisal Services? Do you have an engagement ring that needs an appraisal? What about wedding anniversary gifts from a long time ago that you need to have appraised? Diamond engagement rings that you can knock the dust off of? Professional jewelry appraisers can give you a properly written appraisal with digital jewelry photos, fix and repair your jewelry while you wait. Have you ever purchased jewelry from a jewelry appraiser? Not good! Try not to ever mix who you buy jewelry from with who appraises your jewelry. What if they appraise it high when it's value is low, but they sell it to you high? Then you're out of luck. An independent jewelry appraisal is best. An unbaised opinion by a graduate gemologist or asa accredited senior appraiser would be best. These are the signs of a truw professional appraiser. There are lots of professional appraisal practices out there. Whatever you do, make sure that your appraiser has some sort of accreditation or is a graduate. Some great associations are: Appraisal Practice USPAP Accredited Gemologists Association JISO Jewelry Insurance Standards Organization Appraisal Institute National Association of Jewelry Appraisers (NAJA) If they are not affiliated in some way with these trusted jewelry appraisal authorities, then you may want to consider checking elsewhere!