What Is An Appraisal And What Types Of Appraisals Are There?

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By: Nikki Riela April 19, 2019

An appraisal is a document that states the relative quality of an item - in this case a piece of jewelry - and assigns a value to it along with a description of the piece. These descriptions often times - if not always - include the visible, measurable, and analyzable facts about the piece of jewelry being appraised. This includes the weight, materials and any special markings.

Appraisals will also include the features of the item at stake including gemstone quality, rarity, etc. Keep in mind that appraisals are not the same thing as diamond/gemstone grading reports. 


Today, most appraisals that are done are for insurance purposes a.k.a insurance replacement. The reason why people insure their jewelry is to have the value of the item returned, therefore, insurance appraisals show (or should show) the realistic cost of replacing an item in a store that sells items like the one being replaced. 


When getting an appraisal written up make sure to take your items to a jeweler that has some type of appraisal training. On-site gemologists, like Master Jeweler Jay Garcia, will identify your gemstones and determine values for insurance purposes, estate tax evaluation, value comparison and so on. 


Here, at Jay’s Fine Jewelry, we offer different types of appraisals including Insurance Appraisals, Estate Tax Evaluation, and Verbal Appraisals also known as Fair Market Value Appraisals. With FMVA or Verbal Appraisals the price or value represented is the item’s current value in the condition that it is in (used). These normally run lower that retail replacement values (insurance appraisals) because with a FMVA you are not looking to replace the item with a new equivalent. 

Have any jewelry that needs appraisal? Bring it on in and we’d be happy to help!

Jay Garcia