About Jewelry Appraisals

Does Kitsinian Jewelers in Valencia, Santa Clarita provide jewelry appraisals? It's a frequently asked question we often get from guests trying to determine the value of a gemstone or piece of jewelry. Yes we do!

Anytime you purchase fine jewelry, you should consider having the piece or pieces appraised by a trained gemologist for insurance purposes. By having your jewelry appraised and documented, you can easily insure it for its value in the case of theft or damage. Appraisals are also necessary if you ever consider selling your jewelry as it will ensure you receive a fair price for each piece.

An appraisal is an estimated valuation of a piece of fine jewelry or gemstone. The value stated on the appraisal is the opinion pf the appraiser based on a professional’s experience in the jewelry industry.

Jewelry Appraisal – what’s it worth in current state today and why is that important?  It's an important question.

Many owners of fine jewelry get a formal appraisal at the time of purchase and they don’t feel the need to get one again.  One of the purposes of an appraisal is for documentation regarding the replacement value of the item in your possession.Appraisals are done for many reasons ranging from need to determine fair market value for estate planning to more commonly, replacement value for insurance purposes.

Most jewelry owners will then list that item on their jewelry coverage, homeowner’s or renter’s insurance policy to pay for the replacement if something were to happen to the item.  If you feel that you would like your item replaced if something were to happen to it and its value exceeds your deductible, it would be wise to get an appraisal.

As you can see in the sample appraisal image, the document lays out the details regarding the item and the replacement value. That’s all well and good, but in time the prices of items change, they can go up or down.  Insurance companies suggest that an appraisal be updated every 4 to 6 years.

With a non-current appraisal the owner of the jewelry loses either way; in the case of a lost or damaged item, the insurance company looks at the replacement value listed and that is the maximum amount that is allowed for the replacement.

If your item has increased in price well beyond the value listed in the appraisal, then the insurance company will obtain or allow for the most similar item they can without exceeding the replacement value. That means that the jewelry owner may not be able to have the same size, color or quality that he or she had before without having to pay the difference.

If your item has decreased in price, you will certainly get a similar item back, but the insurance company will not need to spend the allotted amount stated in the appraisal.  They’ll simply replace the item with no complaints, but it means that you have been overpaying on your premium for that item.

At Kitsinian Jewelers our certified appraiser or certified gemologist will spend time examining and detailing your jewelry for the written document and issuing this to you and your insurance company upon request. As time moves on and pricing changes know that your Kitsinian appraisal can be updated at your request at no charge any time in the future.

There are other types of appraisals so please ask about the service and fees so that you can have peace of mind that you are properly covered.

You may email them directly at contact@sakitsinian.com or by calling Kitsinian Jewelers at 661-702-1777

KITSINIAN JEWELERS IS SANTA CLARITA'S LEADING JEWELRY STORE!