There are many reasons you may want a diamond appraisal in Wellington. If you recently purchased a beautiful diamond ring for your fiancé, you’ll want it insured in case the item is lost or stolen. Your insurer will use the appraisal as proof of ownership and will provide you with the value of the item. Maybe you want to sell an heirloom, but you don’t want to get scammed by the diamond buyer. An appraisal lets you know all details of the diamond: cut, color, weight and clarity to help determine a value. You can then show this appraisal to the diamond buyer with the hopes of getting a higher price.
The jewelry industry is complex and a little intimidating – for many, appraisals are no exception. So, what exactly should you expect when you go in for one? Is there a risk of being overcharged by the appraiser? Here, we’ll share valuable insights so you know what to expect.
What To Look For In An Appraiser
There are several characteristics to look for in a professional. You’ll find that most jewelry stores have an appraiser on-site, which you can easily contact to make an appointment. Some people prefer to choose a third-party source with no affiliation to a jewelry store, but this can be risky because of the industry’s “bad apples” who will devalue a ring you purchased from another jeweler to entice you to buy something from them.
If you find an honest appraiser from a jewelry store (which you will always find in the staff at Designer’s Touch Jewelry), their affiliation with the store should pose no problems. We guarantee that your diamond appraisal in Wellington will be honest and will reflect the true value of your diamond.
Other characteristics to look for in an appraiser are:
- Adheres to the Uniform Standard of Professional Appraisal Practice (USPAP)
- Gemologist degree
- Member of a reputable appraisal association like American Gem Society
- Good reviews and loyal customers
Learn The Diamond’s Value
As you already know, you’ll receive the value of the diamond, which is broken down into several factors. They will look at the following features:
- Cut, clarity, color and carat weight of the diamond
- Quality of the metal setting
- Brand name of the ring
- Overall Weight
- Structural Integrity
Expect A Fee
Everything comes at a price and the same applies to a diamond appraisal in Wellington. In general, fees are based on experience, the length of the appraisal, and the level of difficulty. For example, a tiny diamond with intricate coloring will be more difficult to appraise than a larger stone. At most reputable stores, you’re told upfront what the appraiser will be looking for and approximately how much it will cost.
In some cases, the fee is based on a percentage of the diamond’s value. When you’re charged a flat fee or by the hour, you stand a better chance of getting an unbiased and honest value when compared to being charged a percentage of the item. However, this isn’t always the case, as some professionals charge by the percentage with higher valued rings because there’s increased liability. This can make things tricky. When in doubt, or if something doesn’t feel right about the appraiser’s fee structure, always check online for reviews.
You should always be wary of appraisals that are surprisingly low because this is an indication that the person you’ve taken your diamond to isn’t experienced and has most likely appraised your item incorrectly.
Why Get An Appraisal
A diamond appraisal in Wellington doesn’t add value to the jewelry, but it does give you an idea of what it’s worth and how much you can expect when you sell it. However, keep in mind that you will only get a fraction of the appraisal’s value when you sell it. Even if you don’t have it professionally inspected, you can still sell it, as some jewelers will have an idea of what it’s worth without documentation.
Contact Designer’s Touch Jewelry
Contact our local jewelry store in Wellington and we’ll look at your item and inspect it for craftsmanship, scratches, structural integrity, and more. You will receive a thorough assessment whether you want to know if the diamond is really worth what you paid, you’re taking out an insurance policy, or you plan to sell it. You can always count on our staff for reliable appraisals. Call (561) 790-6220 to make an appointment.