Jewelry Appraisal: 7 Steps for Accurate Insurance of Your Fine Jewelry

You don’t invest in a house or a car without understanding the market value and making sure they’re properly insured, and the same goes for your fine jewelry. Professional statements of replacement for insurance are any easy yet essential way to document what you’ve purchased for insurance companies, estate planners and your own peace of mind in case it’s lost, stolen or damaged. 

Jeweler Inspecting Ring

And at Padis Jewelry, we have GIA graduate gemologists and certified gemologist appraisers as team members to handle all your insurance documentation needs. These experts have intensive training on the nuances that go into determining precious stone value and grading practices and will provide you with a written assessment that can be given to an insurance company or agency requiring documentation of your jewelry. 


Here’s what you can expect from Padis Jewelry's thorough and accurate appraisal:

  • Step 1. Clean it. The first step our appraisers take is to check for any damage that may require repairing. There’s nothing worse than a loose diamond going unnoticed until it’s already fallen out of your setting. After addressing any needed repairs, the appraiser will clean your jewelry so it’s ready for the inspection. 
  • Step 2. Photograph it. Visual documentation is an essential step in the appraisal process, and our appraisers are careful to take the highest quality photos that focus on what they see. That means taking shots from every angle, cropping and editing to zero in on the details and later attaching the photos to the written description of your jewelry. 
  • Step 3. Test it. Now it’s time for technology. We use extensive testing and tools including to test for the purity of your jewelry as well as the nature of the stones in your jewelry.
  • Step 4. Weigh it. Another important step in assessing the value of your jewelry is determining weight. Our appraisers use scales that are precisely calibrated to calculate your jewelry’s physical weight. 
  • Step 5. Describe it. With the visual proof complete, it’s time to conduct the written documentation. Here our appraisers describe exactly what they’re seeing, which includes identifying any distinguishing craftsmanship, design or marks on your jewelry. The very detailed descriptions, in conjunction with the thorough photographs, provide a 360-degree look at the attributes of the jewelry.
  • Step 6. Evaluate it. If your piece of jewelry has any gemstones, our appraisers will evaluate them using strict industry standards. The appraiser analyzes the quality of your gems according to the 4 Cs of cut, color, clarity and carat and flags any imperfections like chips or cracks.
  • Step 7. Price it. This is a biggie. You’ve invested in an exquisite piece of fine jewelry that you may want to hand down or sell one day, so capturing the correct value is crucial. Our appraisers tap into current market research including pricing trends to ensure your appraisal is realistic and consistent with similar pieces on the market so that you aren’t over or under paying for your insurance coverage. 

Statements of Replacement documentation is one of the many services we provide at Padis Jewelry to offer you a stress-free buying experience. 

Book an appointment in our showroom, and we’ll show you how.

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