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The Role of Jewelry Appraisers in Insurance Valuation

Buckhead Jewelry Appraisers

So you’ve just inherited your grandmother’s vintage diamond ring, only to find out it’s not covered by your insurance policy because its value wasn’t properly appraised. In this guide, we’ll discuss what jewelry appraisers do, types of jewelry valuation clauses, and how jewelry appraisers help ensure you get fair insurance claims.

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What Does a Jewelry Appraiser Actually Do?

La Jolla Gem Appraisal

In fact, our job is to protect your interests by providing an expert, well-documented opinion of value based on careful examination and market research. A piece appraised for insurance replacement has a very different value than one being appraised for resale or estate division.

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RESEARCHING Your Art, Yourself, Is a Bad Idea!

Coronado Appraisal

Excellent: Now, you need to differentiate in your research between this artist (worth 2 mil) and that other artist (worth 2 Grand, max). There are many problems with doing your own research; we’ve only touched on a few. How can you prove You’re Right? Let’s say you have a ‘legible’(readable) artist’s name! This is not always the case.)

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Evaluation to Valuation: Navigating Fine Art Appraisals

Art Appraisal Resources

The appraiser will then research the artist, provenance, exhibition history and market trends related to the artwork and similar pieces. The appraisal report is a crucial document used for various purposes, such as insurance, taxation, sale, or donation, and is often required to be conducted by a certified appraiser to ensure its credibility.

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What is the Difference Between Antique Appraisal and Valuation?

Antique Appraisers Auctioneers

When you get an appraisal, the appraiser will provide you with a legal document that can be used for various purposes such as taxes, insurance, estate planning, and wills. It involves a different level of research and detail. We can also help with estate planning, tax purposes, and insurance coverage.

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Comparison between Jewelry Appraisal Value and Selling Price: Understanding the Distinctions

Buckhead Jewelry Appraisers

Conversely, an accurate jewelry appraisal value is necessary for the right insurance coverage. Purpose The primary purpose of a jewelry appraisal is to provide an estimated value of your jewelry for insurance purposes to help you get a replacement if your jewelry is damaged, stolen, or lost. One has a higher value than the other!

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Documenting Your Art Collection

Fine Art Estates

Most Fine Art Insurance professionals will agree that the best way to ensure that an insured loss is settled quickly and fairly is by properly documenting your art collection. If you carry a blanket policy and have a covered loss, it is likely that your insurance agent will have no information about the work in question beforehand.