Appraise your fine jewelry, ladies!

Mar 10, 2007
6,244
2,574
USA
We moved so it was time to renew our insurance rider on my jewelry, and they wouldn't take online comps or previous estimates - they needed to be current. So we took our stuff to a reputable jeweler, and holy cow. My engagement ring and wedding ring have skyrocketed due to the increased cost of platinum, and Mr. Bitty's jewelry has as well (he has a 50s/60s platinum and diamond ring from his grandfather).

Basically on any given day, I could be walking around with over 20k of jewelry. :shocked:

So just a reminder to update those appraisals, just in case the worst happens!!!
 
May 6, 2007
6,649
62
be thoughtful though. getting an inflated appraisal just means you pay higher premiums. i would rather slightly under insure my jewelry and pay lower premiums
 

labrillant

Member
Sep 11, 2010
949
3
be thoughtful though. getting an inflated appraisal just means you pay higher premiums. i would rather slightly under insure my jewelry and pay lower premiums
This is so true. An appraisal for insurance purposes is a whole different animal than the true value of the jewelry. We had some jewelry appraised from my mom's estate, had only the larger, more valuable pieces appraised, like a 5 carat diamond ring. We first just had them 'appraised', and then appraised for resale value. The resale value appraisals were about 30% of the regular (insurance purposes) appraisal. But if one is insuring jewelry for the purpose of replacement, the higher value is the one to use.
 
May 2, 2007
645
254
NYC
My diamond studs from Bulgari have jumped 20% in replacement value, higher than resale, of course. But if I wanted to replace them with diamonds from Bulgari, that's what it would cost. Diamond tennis necklace, 136 10pt stones, has also increased 20% in replacement value. Both were bought several years ago. Higher premiums, of course, but if lost. stolen, or damaged, I would want to replace what I have. And I wear them every day without worrying. For me, that's the point of insurance.
 
Mar 10, 2007
6,244
2,574
USA
This is so true. An appraisal for insurance purposes is a whole different animal than the true value of the jewelry. We had some jewelry appraised from my mom's estate, had only the larger, more valuable pieces appraised, like a 5 carat diamond ring. We first just had them 'appraised', and then appraised for resale value. The resale value appraisals were about 30% of the regular (insurance purposes) appraisal. But if one is insuring jewelry for the purpose of replacement, the higher value is the one to use.

We are insuring replacement value, and the rider is only for pieces over 10k. So that really means only 2-3 pieces that need a rider.
 

vhdos

Member
May 18, 2007
14,506
17
US
We moved so it was time to renew our insurance rider on my jewelry, and they wouldn't take online comps or previous estimates - they needed to be current. So we took our stuff to a reputable jeweler, and holy cow. My engagement ring and wedding ring have skyrocketed due to the increased cost of platinum, and Mr. Bitty's jewelry has as well (he has a 50s/60s platinum and diamond ring from his grandfather).

Basically on any given day, I could be walking around with over 20k of jewelry. :shocked:

So just a reminder to update those appraisals, just in case the worst happens!!!
Thanks for this reminder, Bitty:smile:
 

jtc103

Jewelry lover
O.G.
Oct 29, 2009
547
92
Thanks for the reminder! I actually just did this last week for my wedding set and a few other pieces to submit to my insurance company. I'd be curious to see the appraisal papers.