If you’ve been handed down a beautiful gold ring by your grandfather or started a new chapter of your life with your partner (and your three-stone engagement ring), perhaps it’s passed your mind what you can do to protect something so meaningful. You can do your own part to keep it safe, but there’s only so much that you can do to protect it from some environmental factors. You can still get a different sense of security from knowing that something else can ensure that your ring is safe from other unfortunate situations.
There are some insurance options that you can find, specifically as a rider to your real estate policy. But before you can proceed, it’s important that you first get a ring appraisal. Read on to learn more about what this appraisal is and what makes this so important.
Understanding Ring Appraisals
What is a Ring Appraisal?
So, what is a ring appraisal anyway? Simply put, it is a document that identifies the appraiser’s assigned value of your ring. The ring appraisal includes all the information about the ring’s characteristics, including details about the gem, materials, and others. The document would also contain pieces of information about the appraiser.
How It Works
To put it most simply, the appraisal process is a pretty straightforward process that involves a couple of steps. First, the jewelry appraiser will examine the different parts of your ring. Any precious metals, gemstones, and such will be reviewed, which would be based on the 4Cs: color, clarity, cut, and carat weight. Specific grading standards are also followed.
Once this is covered, the appraiser will look into the piece’s current market value and consider this. This value lets the appraiser know the average price a new piece of similar jewelry item would cost at the current time of the appraisal. After that, they will assign a value to your ring and have it documented.
Appraisal vs. Certificate; What’s the Difference?
If you’ve received a jewelry piece before and have seen something called a “diamond grading report,” you might’ve thought that this is the same as an appraisal. But that’s not the case.
An appraisal contains a monetary estimate for your ring, but a grading certificate does not. Additionally, the certificate is created based on tests conducted in official labs, and this isn’t necessary for appraisals.
Why Get Your Ring Appraised?
1. Insurance Purposes
Despite not having an existing insurance policy for jewelry particularly, you might want to consider getting additional insurance for your piece of jewelry. An appraisal would help you get close-to-accurate jewelry insurance. This ensures that you wouldn’t be paying too much for your insurance compared to its actual value and that you wouldn’t be receiving less should something unfortunate happen to your ring.
2. Peace of mind
Related to the first idea, you’d feel more secure and calm knowing that your precious ring is also secured by insurance companies. For example, if you decide to wear only your wedding ring after marriage, the engagement ring you safe-keep at home is one less thing you need to think about. In short, you can wear or leave your jewelry without worry and stress.
3. Get more details about your ring
Having an appraisal for your piece of jewelry also allows you to determine its current state. As mentioned, qualified appraisers thoroughly examine your ring, so you’d also know about any issues or damage you might have yet to notice.
When to Get a Ring Appraisal?
Some jewelry stores already provide a complimentary jewelry appraisal to go with the ring, but if it doesn’t, it’s best to get one right after the jewelry purchase. This lets you immediately clarify anything you’d want to know about your piece of jewelry, which can be covered through an appraisal, and gives you more time to go over the insurance process.
Since the value of diamonds and other metals change over time, it’s also best to have your ring appraised every five years. This would ensure that your diamond engagement ring or gold family heirloom’s recorded value is accurate with what it’s worth at the current time.
Get Quality Appraisal Services with Willyn Villarica Jewelry
As you can see, whether you want to know more about your item or have a document for insurance, getting an appraisal is really helpful. It’s highly recommended that you get an appraisal for your beautiful diamond engagement ring or other jewelry pieces.
Willyn Villarica is your trusted partner for ring appraisal services, catering to clients around the globe. Our expertise and commitment to excellence ensure accurate and reliable assessments of your precious gemstones. It’s important to note that while we offer our services worldwide, clients are responsible for covering all travel expenses. Don’t miss out on the opportunity to have your diamonds expertly graded by Willyn Villarica.
Get an accurate and trustworthy appraisal from Willyn Villarica Jewelry today. Having a professional like Willyn Villarica, a graduate of GIA’s Graduate Gemologist® program and the only Filipino appraiser recognized by NAJA, you know your ring will be in good hands. If you have other additional questions, don’t hesitate to reach out! Send an email to firstname.lastname@example.org or reach out to our official Facebook (Willyn Villarica Jewelry) or Instagram (@willynvillarica_jewelry) pages.