Our own “Ask Your Jeweler” segment on Tatum Hubbard’s Studio 7 airing on CBS7 shares insights on fashion trends, jewelry care and repair, diamond and gemstone knowledge and other useful tips about jewelry.
Should you have your jewelry appraised?
Martin: Tatum, let’s start out by the definition of an appraisal. An appraisal is a valuation or estimation of value of property by disinterested persons of suitable qualifications.
Tatum: Ok, so somebody who has no investment in what the appraisal would be and they have to have some experience, you want to make sure they’re the right appraiser, right?
Martin: There are a lot of certification agencies for appraisers and we would be wise to look into what those qualifications are, and possibly look at a sample appraisal form that they’ve done in the past.
Tatum: Okay, so you have some gorgeous jewelry that you’ve brought for us to show today. So, when do you know when you should get something appraised, like if you just have a, most of us think my stuff’s not worth it, that’s not probably true, is it?
Martin: Insurance companies recommend a starting value of around $250, and it just depends on what kind of exposure that you want and how much you want to self-insure.
Martin: Which basically if you’re not getting insurance, that’s what you’re doing. Most insurance companies recommend an appraisal about every two years, which most people don’t do. A lot of the time they do it once and then later they may have a loss claim and find out they’re underinsured.
Tatum: So, we should have what kinds of things appraised? Like, really break it down for us because a lot of us are kind of naïve about it. We think of our wedding ring, and this is not my wedding ring, but it sure is pretty. We think of the big things, but small things should be appraised, too.
Martin: Small items a lot of the times need to be included in an appraisal and usually it doesn’t cost that much to have them listed additionally. The popular Antiques Road Show kind of touches in on the very tail end of what’s occurring on an appraisal.
Tatum: Much like CSI makes it look like they solved the crime in one hour, Antiques Road Show makes it look a lot simpler.
Martin: They make it look a lot simpler, and their shotgun method of valuation isn’t really a proper method. It could get you in trouble if you used an appraisal for a purpose other than what it was intended for.
Tatum: Something fascinating that you told me just now , there are instances where you can, after the fact, even appraise a piece of jewelry, and that might come into play if you’ve got photographs, a way to build a case.
Martin: In casualty loss an appraiser can go back retrospectively or reconstruct valuations based on photographs or any kind of information that may be available to him.
Tatum: I love that, that’s encouraging for us who may have some issues. I can not let you go without showing off some of your pretties. I love this gorgeous ring that I’m wearing. I get to keep this, right?
Martin: Yeah, this one we want to know whether it’s gold and white, or is it blue and black?
Tatum: (Laugh) Right, it goes with that dress. I hate that dress, love this jewelry.
Martin: Right now we’ve got some trends in jewelry. White gold is still king, or platinum. Things are trending towards the rose gold that came into fashion a few years ago. And, that’s pulling the old yellow gold back into style now.
Tatum: I’ll be, they’re gorgeous. I want to draw your attention to this one. I love this ring so much, it’s so cool.
Martin: This style is very popular right now, and it’s the threaded or gossamer look. And, this is cutting edge particularly in yellow gold. So, you picked out the absolute, current fashion trend.
Tatum: Martin, thanks so much for the information on appraisals. If you need any information on appraisals or if you happen to have anything that you’d like to have looked at, of course you can stop by and see our friends at Diamonds. Thanks for being here with us.
Martin: Thank you, Tatum.