Jewelry appraisal is a highly specialized field where only a handful of individuals can call themselves experts. This, on top of other factors to be discussed in this article, is one of the reasons why getting jewelry appraisals could cost owners a pretty penny.
However, don’t think of jewelry appraisal cost as that—a cost. Getting jewelry appraised regularly as recommended by an appraiser is as much of an investment in itself as is your precious jewelry collection. Understanding what you can gain from spending on a jewelry appraisal cost is inherently important in proper jewelry care. It helps you understand the need for insuring your collection, choosing the right appraiser, computing the value of your estate, and for those who wish to sell their pieces, how to make the most out of a transaction.
Below, we’ll go through important questions on jewelry appraisal cost.
How much does a jewelry appraisal cost?
There’s no single answer to this because rates are dependent on the skill of the appraiser. A professional appraiser with good experience could start at $75 an hour and go up to $150. Some may also charge individual fees per piece of jewelry, rather than per hour.
*Appraisers might charge an hourly rate if they are handling more than 15 items, or assessing a watch or high-end piece. Don’t forget to inquire if your appraiser also prepares a generation report (a report containing all relevant findings from the appraisal and their credentials) in this scenario.
Does the kind of jewelry matter?
Jewelry appraisal cost services may also vary depending on the type of jewelry (e.g.: pearls, diamonds, or gold). Make sure your appraiser knows what kinds of items you are taking to them ahead of time so they can prepare an accurate quote for you and prevent miscommunication.
**In the Philippines, the baseline appraisal cost is about P4,500 per item (with a maximum of three carats). You might be told that an additional P1,000 is added for every carat exceeding this weight. This is a common scenario when you are getting 15 items or less appraised, or if your jewelry is simply designed. Again, inquire if your appraiser also prepares a generation report for this type of appraisal as you might have to request for one separately.
What kinds of appraiser credentials affect jewelry appraisal cost?
Many top appraisers will be part of national organizations or associations such as the National Association of Jewelry Appraisers (NAJA). Membership in these groups allows them to discuss market trends and keep up with the appraisal methods, both of which contribute to developing a jewelry appraisal cost. Knowing that your appraiser is part of these groups may give you confidence that they are not out to charge you the highest amount possible. Their membership also entails them to adhere to strict ethical standards while discouraging them to make quick profits through any and all means.
What about the type of appraisal that I need, does that matter?
Yes, it does. Clients have different reasons for getting appraisals and that affects jewelry appraisal cost. Some may be after appraisals for legal purposes (dividing an estate, passing on inheritance), for growing a collection (say, you’ve just purchased a rare antique piece and want to know its history), or reselling. The valuation method used in appraising your jewelry depends on why you’re having your jewelry appraised.
As a final note on jewelry appraisal cost, keep in mind that it should never be dependent on the value of the jewelry. This is considered extremely unethical, and an appraiser who suggests this is not someone you want to be doing business with. Appraisal institutions like the National Association of Jewelry Appraisers (NAJA) consider this behavior an exculpatory offense.
In the end, remember that jewelry is an investment that could give you lifelong satisfaction if you know how to take care of it. Getting an appraisal done regularly and by the right person, and having the willingness to pay for their expertise, is one key to achieving this.
Are You Looking for a Jewelry Appraiser?
Willyn Villarica is a GIA-certified gemologist and NAJA-recognized Filipino appraiser, who specializes in accurate valuations.
Send your inquiries to willynvillarica@willynvillaricajewelry.com or through Facebook (Willyn Villarica Jewelry) or Instagram (@willynvillarica_jewelry)