Why is my jewelry appraised for more than i paid online?

Dorothea Berge asked a question: Why is my jewelry appraised for more than i paid online?
Asked By: Dorothea Berge
Date created: Tue, Feb 23, 2021 4:56 PM

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Those who are looking for an answer to the question «Why is my jewelry appraised for more than i paid online?» often ask the following questions:

👉 Why is my jewelry appraised for more than i paid?

It is also my feeling that whom ever prepared theis appraisal for you, had a responsibility to discuss with you the basis upon which they placed a value on it. Furthermore, asking you why you needed this appraisal would also allow them to put the value that would work for you. David- Owner, Diamonds by Lauren.com.

👉 Why is my jewelry appraised for more than i paid tax?

So my question has to be if I spent this specific dollar amount on this piece of jewelry should I ensure it for more, less, or the price that I bought it for. I have this idea in my head that if I insure the ring for more than its worth I would still only get the acutal price I paid for it, or is worth in current market.

👉 Why is my jewelry appraised for more than i paid for meaning?

Is there a need or a reason to appraise your jewelry much higher than what you paid for it? Because that also means that you’re going to have to insure it for that $9,000 price instead of what you paid. That’s a big difference. So why is this? The real reason: Because it looks better on paper and it makes you feel better.

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In that case, having my diamonds insured for more than I paid for them was a good thing, so I will not complain. But, yes, some of those brick & mortar stores, particularly the mall jeweler chains that sell so-so quality, give appraisals that his the Ludicrous Zone.

So my question has to be if I spent this specific dollar amount on this piece of jewelry should I ensure it for more, less, or the price that I bought it for. I have this idea in my head that if I insure the ring for more than its worth I would still only get the acutal price I paid for it, or is worth in current market.

So have the jeweler keep the listed jewelry price lower, that way you won’t over pay with insurance costs and your jewelry appraisal will be more accurate, fair and give you a better idea of what the true value of your jewelry is. Insuring that $9,000 ring (that you paid $4,000 for), would be better off insured as $5,500 instead.

The answer: Both the insurance company and the jewelry store.Insurance companies charge high insurance premiums on items that have a much lower replacement value, while simultaneously, the jewelry store uses these inflated insurance appraisals as a sale’s tactic-- one assumes they are getting a fantastic deal on the diamond. Additionally, most retail jewelry has a substantial mark-up as opposed to the wholesale value of the diamond.

So, for example, if you paid $5,000 for a diamond solitaire ring, it should be appraised for approximately $5,000 for replacement purposes. That same ring will sell for about $1,250 to $2,000 or less to a diamond or jewelry buyer. Keep in mind that the most valuable — by far! — part of a ring is the center stone.

As a result, online sellers are encouraged to offer jewelry appraisals. Not only does an appraisal give the customer an incentive to buy, but it also makes you look more professional as an online retailer. Keep in mind, however, that a jewelry appraisal does not tell you a piece's resale value.

A jewelry appraisal may cost around $100 or a percentage of the value of the item, and it will not add value to your jewelry. What it will give you is more detail about the item itself, such as estimated weight, color and clarity of the diamonds. This information will enable you to obtain a price range for your stone.

Resale Appraisal. When upgrading jewelry or looking to make extra cash, a Resale Appraisal determines the Fair Market Value of the jewelry for the purposes of valuing the jewelry with the intention of it being resold. The jewelry can then be resold again in the trade, or may be sold directly to an end consumer.

3. An appraisal. Most insurance companies require appraisals, especially for more expensive items. Often, they won’t accept the one from the store from where you bought the piece. You’ll need to have a separate certified appraiser work up an appraisal/valuation for you. Do ask what they require before getting your jewelry appraised/valued. 4.

Why Should I Have My Jewelry Appraised? 1. You need an appraisal if you want to obtain insurance coverage. 2. You should have an appraisal if you plan to sell your jewelry or use it as collateral. 3. You need an appraisal to settle an estate or for fair distribution of gifts.

Your Answer

We've handpicked 23 related questions for you, similar to «Why is my jewelry appraised for more than i paid online?» so you can surely find the answer!

How jewelry is appraised?

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Jewelry Grading. While jewelry appraisal is the process of assigning monetary value to a piece of jewelry for a specific purpose, diamond jewelry grading is the thorough evaluation of the jewel's stone and its attributes: carat, cut, color and clarity.

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How to get money for my jewelry appraised online?

Many local jewelers will provide an appraisal for resale or insurance purposes, but expect to pay between $50 and $150 per hour for jewelry appraisal services. Where to get jewelry appraised for free. Most local, reputable jewelers will give you an appraisal for free. Check the National Association of Jewelry Appraisers for a recommendation.

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Where to get old pawn indian jewelry appraised online?

Online Appraisal Agreement. This is our Online Appraisal agreement. If you are interested in an Online Appraisal, you must read and agree to the appraisal terms below. After we receive your information on the item, we will contact you at the email address that you provided concerning our acceptance to proceed and regarding payment methods. Online Appraisal Terms

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Where can i go to get my jewelry appraised online?

Online, Instant Jewelry Appraisals FOR FREE. Our online jewelry appraisal is a FREE tool for you to use. Learn how much your fine jewelry, gold, and diamonds are really worth and get help to buy and sell jewelry smarter. Created by a small family jeweler with generations of experience, we buy and sell jewelry, gold, diamonds around the USA ...

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How does jewelry get appraised?

The main way most people get their jewelry appraised is through a local jeweler, who can give you a decent estimate of how much your item would get at retail value — retail value is how much that jeweler could sell your ring, gold, diamond or earrings for in his or her store.

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How to get jewelry appraised?

The main way most people get their jewelry appraised is through a local jeweler, who can give you a decent estimate of how much your item would get at retail value — retail value is how much that jeweler could sell your ring, gold, diamond or earrings for in his or her store.

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How to have jewelry appraised?

Have you ever had your fine jewelry appraised or gotten an official lab grading report? Or have you ever sold a fine jewelry piece? Feel free to share your experiences in the comments section below. 1 shares. Author. Laurie Blank. Laurie Blank is a freelance writer and licensed Realtor practicing in Minnesota and Wisconsin. She has been writing about personal finance topics for over six years. Laurie has been featured in publications such as The Philidelphia Inquirer, The Seattle Times and ...

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Should you get jewelry appraised?

Yes, you absolutely should have your jewelry appraised.

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Where to get jewelry appraised?

A jewelry appraisal for insurance purposes can be had at these locations: A local jeweler near you. A jewelry laboratory, such as GIA or IGI Worthy.com provides each item mailed in a copy of a lab report (which is different than an appraisal) as well as an...

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Where to have jewelry appraised?

To start your search, visit either the The National Association of Jewellers: Institute of Registered Valuers, which is the UK’s leading association of jewelry valuers, Or, for the United States, the Gemological Institute of America’s library of Appraiser Associations offers reliable resources for collectors. Jewelry Appraisal Cost

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Is gold jewelry worth more than scrap?

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All that said, the vast majority of gold jewelry has little resale value. Even pieces that look as though they could be old and valuable are often reproductions… If your gold piece is only worth its weight in gold, then you should seek out the greatest payout for its gold value.

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Is platinum jewelry more expensive than gold?

Platinum jewelry is more expensive than gold… It’s a well-known fact. Aside from assuming that platinum is a superior metal, have you wondered exactly why platinum gets the higher ticket price in the jewelry industry? Currently, gold costs around $1,300 per ounce, while the going price for platinum is $850 per ounce.

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Is platinum jewelry more precious than gold?

As such, platinum jewelry costs more than gold, not only because it is 60% heavier (a 10 gram ring vs. a 16 gram ring noted in #1 above), but those grams of precious metal are more pure, and therefore, more valuable and costly in platinum compared to gold.

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How much does it cost to get your jewelry appraised online?

The cost of a jewelry appraisal can depend on many different factors. For this reason, the price will depend on the piece of jewelry you would like appraised. The more complex the piece, the more it will cost to get the piece appraised. When you ask a jeweler for an appraisal price, you’ll typically get one of two answers. They’ll either quote you a flat fee or an hourly fee rate with an estimated number of hours. Hourly fees for jewelry appraisers tend to run between $50 and $150. To be ...

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Jewelry appraisal - how to get your jewelry appraised?

At the same time, the appraiser must have a recognized qualification to lead the process. Having a gemological degree means the person is trained to identify and grade different gem materials. Other than this, the jewelry owners need to collect enough information about different types of jewelry appraisals.

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How can i get jewelry appraised?

The appraiser wanting to earn certification must pass classes and exams about the skill of jewelry appraisal. When searching for a jewelry appraiser, be sure to ask if they’re certified and where they obtained their certification. The appraiser should have documented proof of their certification.

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How long to get jewelry appraised?

As a general rule, update your appraisal every two to three years is a good idea, as the price of gold, platinum and silver fluctuate daily, and the market value for all jewelry ebbs and flows. In the end, the market dictates how much your item is worth.

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How much to get jewelry appraised?

  • On average, a jewelry appraisal is going to be based on the size of the diamond, the piece of jewelry and complexity. The costs, on average, can be anywhere from $50 to $125 per hour. A simple wedding band, for instance, will cost a lot less than an engagement ring with a few stones.

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How much to have jewelry appraised?

  • Appraisal services should always be charged by the hour or a flat fee per piece. Hourly rates typically range from $50 to $150, depending on the complexity of the jewelry. A simple wedding band will always cost less than a three-stone engagement ring; there's simply more to appraise with the latter.

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How to get estate jewelry appraised?

The main way most people get their jewelry appraised is through a local jeweler, who can give you a decent estimate of how much your item would get at retail value — retail value is how much that jeweler could sell your ring, gold, diamond or earrings for in his or her store.

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How to get gold jewelry appraised?

The main way most people get their jewelry appraised is through a local jeweler, who can give you a decent estimate of how much your item would get at retail value — retail value is how much that jeweler could sell your ring, gold, diamond or earrings for in his or her store.

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How to get jewelry appraised uk?

At Goldsmiths, we can arrange your valuation for you. Our experts examine your jewellery and provide a written valuation that acts a legal document you can use for insurance. We’ll take digital photographs, note any distinguishing features and write a full description of each item.

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How to get my jewelry appraised?

Step 1, Look for a description of all characteristics of the piece. Characteristics should include weights, grades and measurements of components. The color grade of the gemstone should be determined by using comparison gemstones.[1] X Research sourceStep 2, Expect notes on gemstone treatment. If any atypical treatments were conducted on your gemstone or if your gemstone is untreated, this should be noted on the appraisal.Step 3, Watch for a statement of whether the gemstone is natural or ...

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