Many customers often ask us about appraisals for jewelry and watches. But how do you know when, and how often, you need an appraisal? It's easy. We've put together this helpful list of questions so you understand whether or not an appraisal is necessary for you:

1. Why should I get my jewelry and watches appraised?

The most significant reason to have your jewelry and watches appraised is for insurance purposes. Insurance companies generally don't automatically cover jewelry and watches on a homeowner's policy. They require a special jewelry rider to your policy and use a professional appraisal to substantiate the value of the protected items.

Throughout the years, the value of your jewelry and watches can fluctuate greatly. Your most recent appraisal may be out of date and, as a result, your jewelry could be insured for less than its replacement value. That means you risk a substantial financial loss if your jewelry is lost, stolen or damaged. You may also want to determine the value or authenticity of your jewelry for estate, tax purposes, divorce settlements, and loans.

2. How often should I have my jewelry and watches appraised?

We have seen many situations when a client's jewelry has become highly collectible and far exceeds their existing appraised value. Because of this, we advise all of our customers to have their jewelry and watches appraised once every five years.

3. What is your appraisal process?

We will gladly appraise your jewelry with an appointment in-store, during regular store hours. You are welcome to watch the appraisal process, so your jewelry never leaves your sight. We also respect your privacy; all appraisals are given in a timely manner and are strictly confidential. Our appraisals are based on current market values derived from computerized networking systems that constantly monitors prices through the industry and compares retail prices. We provide accurate appraisals reports based on the current market values, so you can obtain adequate insurance coverage.

4. How much does an appraisal cost?

We provide Free on the spot Verbal Appraisals as part of purchase and loan programs, for Insurance purposes we charge a flat fee per item for each appraisal. This fee is based only on the time needed to perform the tests and calculations. Fees are in no way determined by the value of the jewelry. For an estimate, please contact us. Once you complete an appraisal with Estate Diamond Exchange, don't forget to contact your insurance company with your latest appraisal report so they can update their records.

Certified Gemologist on Staff