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Diamond Appraisals • Diamond BrandsDiamond Grading Reports

diamond held in a tweezers Whether you are buying a diamond or selling one, an appraisal is an important part of the process.

There are two basic kinds of appraisals.  An insurance appraisal states how much it would cost to replace the piece, while a liquidation appraisal gives a cash value of the gem.  In most cases, a liquidation appraisal is given verbally by a jeweler or appraiser, and is used by the owner of the diamond to determine a selling price.  Insurance appraisals, on the other hand, are put in writing by people who specialize in appraising jewelry.  Insurance appraisals are more formal than liquidation appraisals; they are the type of appraisals that diamond owners seek out most often.

An insurance appraisal does not mean that you will receive cash for your diamond if it is lost or stolen.  In most cases, the insurance company will replace the diamond by buying one of similar value from a wholesaler.  The higher the diamond's value, the higher your insurance premiums will be.

Your diamond can be appraised by a jewelry store appraiser or an independent appraiser.  Jewelry store appraisers are convenient and easy to find; they are a good option for consumers as long as the jewelry store appraiser is knowledgeable and reputable.  Independent appraisers are harder to find, but may offer a more unbiased option with less conflict of interest.

While you can be certain that jewelry store appraisers see lots of gems and can accurately assess yours, finding out the qualifications of a good independent appraiser can be a bit trickier.  So how do you know if an independent appraiser is qualified to appraise your diamond?  Ask some questions! Find out how they have been involved in the gem trade prior to becoming appraisers.  Many have been jewelry store owners, bench jewelers, buyers, and sales reps, and have an excellent working knowledge of the market value of diamonds.  Another good way to find a knowledgeable appraiser is to phone or fax an appraisal organization and ask them for the names of qualified appraisers in your area.

Qualified gemologists should also have a valid diploma to prove they have the required education to evaluate gemstones.


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Appraising Diamonds