Jewelry Valuation: Insurance Is Not the Last Word

In the jewelry sector, individuals tend to concentrate on insurance companies when looking for valuation. This is the traditional valuation aspect that has dominated the market for many years. That’s why individuals have been asking for gemstone value from insurance companies. However, insurance organizations should not hold the last word. Other businesses can provide valuation as well.

1. Estate Appraisals

In addition to working with an insurance company, estate appraisers are the other people you can approach for a jewelry evaluation. Most of these appraisal services will give you a replacement value. The moment you lose your precious stone or an item is stolen, an estate appraiser can help set the value based on the current market conditions.

They don’t have a sentimental attachment to the piece and will not pay more just because it has been in your family for generations. It would be best if you had an excellent working relationship with an estate appraiser before entrusting them with the task of appraising your jewelry. This way, you will be sure they will give you an accurate value.

2. Charitable Donation Appraisals

In this category, the appraiser will tell you the value of your piece if you were to donate it to a specific charity. The donation value is usually way below the replacement and estate appraisal values. This is the right person to approach when you want to know how much your piece is worth for tax deduction purposes.

The appraiser will give you the fair market value, which is the price a willing buyer would pay to a willing seller when both parties are fully informed about the transaction. When selecting an appraiser for this job, you should ensure that they have extensive knowledge of the IRS rules and regulations. This way, you will be sure that they will not make any mistakes that could lead to an audit.

3. Retailers

When you want to sell your piece, it would be best to approach a retailer. The moment you want to know the real value of your piece, this is the category of people to consult. Retailers will tell you how much they are willing to pay for your piece based on the current market conditions.

The advantage of working with a retailer is that you will get an estimate of how much you are likely to get if you sell your piece today. However, it’s worth noting that most retailers will give you a value below the replacement value because they need to profit when selling the piece.


Jewelry appraisers play a significant role in the jewelry industry. However, insurance companies should not hold the last word when valuing your piece; other businesses can provide you with an accurate value for your piece. You need to approach the right person for the job to get an accurate value. Contact Silva Jewelers for all your Jewelry Appraisal needs.