Jewelry Appraisals in Greater Las Vegas, NV
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The ring, watch, necklace, bracelet, diamond or another piece of jewelry in your possession may sparkle and shine, but do you know its true value? The store from which you bought it may not know its actual worth—or the store may have intentionally charged more than they should have.
An appraisal can provide the answers you are looking for about your jewelry. A professional appraisal at Las Vegas Jewelry & Coin Buyers can closely examine the item, analyze the materials and quality, and provide an official document detailing its value.
This professional appraisal service is more trustworthy than an examination by your traditional jewelry store. What’s more, our appraisal is totally free. Learn about all things jewelry appraisals here; then, contact us to schedule an appointment.
What is a Jewelry Appraisal?
A jewelry appraisal is an official document that includes a description of a fine jewelry item. It outlines its quality and assigns a monetary value to it. The description typically goes over any of the readily visible, measurable, and analyzable aspects of the item. These aspects might include things like their weight, the materials used to make the item, any distinctive markings, manufacturer, etc.
While much of the information included in an appraisal is objective, some of it is more subjective, such as the quality of the gemstone, rarity of the stone and other components, and the overall quality of the piece.
Why Get a Jewelry Appraisal?
There are a number of reasons why a jewelry owner may wish to have his diamonds, gold, or other jewelry pieces appraised. If you’re looking to sell your gold jewelry or diamond jewelry, most people agree that expert appraisals are a great place to start. However, owners get appraisals for different reasons.
Here are a few reasons why customers from Henderson and Las Vegas get their jewelry appraised.
To Determine the Quality
If the item was given as a gift, inherited from a late relative, or purchased second hand, the owner may be uncertain of—or even totally unaware of—the true quality of an item. A professional appraisal can serve to erase some of that uncertainty, determining the actual material, quality, workmanship, and condition of the piece in question. What’s more, an appraisal can let the owner know if the stone has been swapped for a stone of lesser quality, also known as “diamond swapping.”
To Evaluate the Jewelry’s Price
If a diamond necklace, antique watch, or other jewelry piece is being sold, at the center of an estate settlement, or listed in the property disputed in a divorce, an appraisal is necessary. The seller needs to be aware of the item’s value so they can obtain a fair price.
To Confirm the Price Paid
Not every jeweler or retailer is completely honest. Often an unscrupulous seller charges far more than an item is worth. Sometimes they may “bait and switch” by putting an item on display, then swapping for a lesser piece at sale. If a buyer wishes to confirm that he paid a fair and accurate price, or that the item he received is what he wanted, a professional appraisal can help the buyer obtain peace of mind.
To Get Jewelry Insurance
If an item made of gold, silver, or other precious material is valuable, the owner may wish to buy insurance for the item to protect against theft, loss or damage. The insurer will require the owner to submit an official appraisal.
How Long Do Jewelry Appraisals Take?
The length of time a jewelry appraisal might take varies widely. The duration depends on the complexity and size of the item, rarity of the materials, and even the expertise of the appraiser.
How Much Does Jewelry Appraisal Cost?
Again, the amount a jewelry appraisal costs can vary. Typically a professional appraiser charges by the hour, and the rate can start around $50 per hour and go up to as much as $200 per hour. At Las Vegas Jewelry & Coin Buyers, your professional appraisal is entirely free.
Are Jewelry Appraisals Accurate?
Jewelry appraisals provided by professionals tend to be very accurate and reliable. Unfortunately, similar appraisals performed by jewelry retailers and other individuals tend to be less accurate.
This happens for a number of reasons. Jewelers may be inclined to appraise far above the selling price of a ring, watch, or other piece to give the impression they are offering great deals on the items they are selling, for example. By contrast, an independent appraiser has no stake or interest, other than providing a fair, accurate valuation and preserving their reputation.
How to Get Jewelry Appraised and Sold
The process of getting jewelry appraised for sale typically is relatively simple. The only item an owner absolutely must have is the item being appraised. However, documents like the original receipt, grading certificate, and previous appraisal can be useful. To start the process, the owners contact the professional appraiser to discuss details and arrange a visit. They may sit and wait in the showroom while the appraiser conducts their examination, or they may choose to leave and return later. When you visit our showroom in Henderson, you’re more than welcome to watch us appraise your item.
After the inspection is complete, the appraiser may need more time to conduct research and complete the report. In that case, the owner may take the item home, because the appraiser no longer needs the piece in hand to finish the document. Once it is finished, the owner may receive the document in PDF form via email or collect it in person.
How Much is My Jewelry Worth?
When looking to determine how much his jewelry is worth, an owner might be surprised at the difference in the price he originally paid for the item and the number on the appraisal document. The appraised value often can stand at 100% higher than the original retail value or even more. This difference happens because the seller wants to give the customer the impression that they are receiving a great deal. Additionally, insurance companies reap the benefits of an item being valued above its actual worth, because the inflation enables them to charge much more for a policy insuring that item.
Do I Need an Appraisal to Sell My Jewelry?
Technically, the owner of a ring, watch, necklace, or other jewelry does not have to have an appraisal to sell that jewelry. In fact, depending on the buyer being targeted, they may not even ask for or look at a professional appraisal document. In that situation, though, a professional appraisal still can be helpful, in that it lets the owner know the accurate value of the piece and helps them know whether he’s receiving a fair offer or being taken advantage of.
Do I Need a Grading Certificate to Sell My Jewelry?
A grading certificate is not necessary to sell jewelry, although it may be helpful. Grading values assigned and certified by GIA, IGI and other credible gemological laboratories can provide insight as to the 4 Cs (carat, cut, color and clarity) of a diamond. If the owner has a grading certificate in hand, the appraiser or potential buyer has more confidence in the value and quality of the stone from the start.
What To Ask While Getting Jewelry Appraised
Any professional appraiser should be willing and able to answer questions posed by the item’s owner. Depending on the type of item, material used, and other attributes, the owner’s questions may vary.
- Does the diamond match what’s in the grading report?
- Is the grading report totally accurate?
- Has the stone been subjected to any kind of artificial treatment?
- Has the stone been damaged?
- Does the diamond look like it was cut properly?
- Does the setting look proper and professional?
- How much do you think the piece is worth?
- Can I watch while you perform your examination?
Is It Better to Pawn or Sell My Jewelry?
The decision as to whether it is better to pawn or to sell an item depends on the needs and interests of the owner. Pawning essentially means the owner is using it as collateral in landing a cash loan—the professional evaluates the piece, makes an offer, then hands over money in exchange for the item. If the owner wants it back, he must pay back the principal plus any associated interest and fees.
Selling involves determining the value, receiving an offer, getting cash, then walking out the door—the deal is done. If the owner thinks they may want the item back later, pawning might be the better choice. If they definitely don’t wish to get it back, then selling might be the best option.
Whether you’re looking to sell your fine jewelry or insure it, you need a professional appraiser you can trust. With over two decades of experience, Las Vegas Jewelry and Coin Buyers has earned a reputation for providing clients with fair, accurate appraisals on watches, rings, coins and other items—all at no cost to you. Reach out to us to learn more.