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The Importance of Getting a Diamond Ring Appraisal

October 10th, 2019

The Importance of Getting a Diamond Ring Appraisal

What Is a Ring Appraisal?

A ring appraisal is the official document that verifies your diamond ring. It involves an evaluation by a professional who takes all the components of your ring into account, including the center stone and the setting, and who then assigns a value to your entire ring. The appraisal verifies the facts about your ring in a manner like the diamond grading report, but for the ring as a whole instead of for the loose diamond. This receipt is your way of officially verifying the value of your ring, as well as any important details you may need a record of.

How Is It Done?

Some jewelers will take your stone and appraise it in a first-come, first-serve order, while others will appraise your stone in front of you. Your jeweler will use their experience, education, and knowledge of the stones, metals, and design components to assign a value to your ring. This will include the quality of the materials and workmanship. You then get the official appraisal that states the value of your ring.

Why Do You Need One?

There are several important reasons to get an appraisal done for your ring. The first is for your own peace of mind. Knowing the true value of your ring is both practical and reassuring. The second (and arguably most important) reason is for insurance purposes. Getting your ring insured is a smart choice. If something were to happen to your ring, being on the hook for the cost can be devastating. Ring insurance or adding your ring to your homeowner’s insurance are popular options, and you need a dollar amount attached to your ring in order to purchase the insurance and later make a claim.

Diamond Engagement Rings in Lansing, MI

When Should You Do It?

You should get your ring appraised as soon as you get it. This allows you to put your insurance in place as soon as possible, because sometimes the worst just happens. If you didn’t get your appraisal done right away, however, don’t fret. You can get one done at any time.

Where Do You Get It Done?

An appraiser can do the official appraisal, a gemologist can verify facts about your stone, and some people are credentialed to do both. Whatever you choose, be sure your chosen jeweler has the right education and experience to give you a fair appraisal. Specialized appraisal training or a graduate diploma from a gemological institute are good indicators. Sometimes, the purchase of your ring comes with a complementary appraisal. Other times, you should expect to pay a fee to have your appraisal done. The fee may come as a flat rate or an hourly charge.

To get an appraisal, explore diamond engagement rings in Lansing, MI, or ask any questions, call or visit Azzi Jewelers today!