03/11/2025
Think your jewelry appraisal = the true value of your piece?
Not usually. And that can be confusing.
Here’s the reality I explain to clients all the time: an insurance valuation is an estimate of what it would cost to replace or completely remake the piece today.
Finding matching stones, materials, and paying for the labour to craft it exactly as it was when it was brand new.
That number is much higher than resale value, because resale reflects market demand for your specific piece of used jewelry, not replacement cost.
But here’s the tricky part: the valuation is often lower than what you may have originally paid for your jewelry.
Appraisals don’t add value for the hours of design, the idea, or any personal collaboration that made the piece one-of-a-kind.
While I still recommend getting insurance valuations on any high value jewelry you own, here are some things to keep in mind:
- Know the difference between “replacement cost”and “actual cash value.”
- Keep invoices, design notes, and photos.
- Update appraisals after repairs or changes.
- Ask your insurer exactly what their figure represents (and what’s covered in case of loss).
