Do you have intricately crafted diamond and gemstone pieces in your jewelry box? Your coveted jewelry pieces are valuable and their value needs to be secured. Getting an insurance is the smartest move but before that you must get a jewelry appraisal NYC.
When you get an online jewelry valuation, you will get to know the fair market value of your jewelry item. Jewelry appraisal in nyc provides much more information about your pieces. For example, you can come to know about a piece of interesting history associated with your precious item.
Prestige Valuations is a leading appraisal company. They have certified experts with experience and knowledge to appraise luxury handbags, watches and jewelry.
When a jewelry, handbag or watch valuer appraises a piece, they will consider some factors to determine its true market value.
Why You Require Jewelry Appraisal In NYC?
If you are wondering why getting a jewelry appraisal in NYC is so important, read on:
For Insurance Claim
A certified appraisal document is required by an insurance company to determine the accurate market value of your jewelry. By getting an online jewelry valuation, you will receive an appraisal document with all details about your jewelry item mentioned in it along with its fair market value.
Imagine your diamond bracelet is missing or someone has stolen it. At the time of filing an insurance claim, you will require an appraisal document. It will save you from being under-covered as otherwise, the insurance company may underestimate the value of your bracelet.
For Reselling
Jewelry since ages is considered a valuable asset which can be sold at the time of a financial crisis. Fine diamond and gemstone jewelry is an investment. With time the value of jewelry rises. Sometimes, you have a vintage bracelet or neckpiece passed down to you as a family heirloom. You might want to sell it to purchase a new bracelet or neckpiece with a modern design.
If you want to get the best deal, it is recommended to get an online jewelry valuation. This will help you make an informed decision as you will come to know your item’s fair market value. You can effortlessly decide the asking price and an appraisal document will bring transparency to the deal.
Whether you connect with a jewelry or watch valuer to get your coveted piece appraised, they will consider its demand and market trends when assessing its accurate value.
Estate Planning
A jewelry appraisal is also needed for estate planning and tax purposes. It is required when distributing all valuable items equally among heirs. An appraisal document ensures all family members receive what they deserve.
Just For Knowledge
Even if you do not want to resell your coveted jewelry due to its sentimental value, you might want to know its fair market value. It will be useful to stay aware of your jewelry’s real worth. If you want to resell your precious piece, the appraisal value can guide you in determining the asking price.
Jewelry Appraisals: Busting Myths
Let’s bust some of the myths associated with jewelry appraisal:
- No Need To Update An Appraisal: You must update your appraisal every two to three years. This is crucial as the value of jewelry fluctuates with market changes. The prices of diamonds, gemstones and precious metals change with time. So, if you do not want to be underinsured, it is recommended to get your jewelry appraised.
- Appraisal Value Equals Resale Value: The appraisal value is not the same as the resale value. An appraiser determines an estimated value of a jewelry item. The price that you get will depend on the market conditions, demand for your type of jewelry piece and the platform on which you are selling it.
When searching for a jewelry appraiser in NYC, you must find someone professional, qualified and certified. Choose an expert with a good reputation so that you get to know the accurate fair market value of your jewelry.
