Should I Have My Jewelry Re-Appraised?
Most people insure their jewelry. And when they get their insurance the value is based on an appraisal that has been supplied by either the jeweler or an independent appraiser. Then they forget about it.
Unfortunately this can quickly lead to someone being under insured should they suffer a loss, theft, or damage to their jewelry. We recommend that people have their fine jewelry re-appraised every 3 years. This allows you to keep current with inflation, and more importantly, to keep pace with record setting gold prices.
Five years ago gold was just $312 per ounce. Today gold is selling at $655 per ounce. That is more than double in just 5 years. So get out those old appraisals and have them updated before it’s too late.
