When Is an Informal Jewelry Appraisal Enough?

You may have heard the term informal appraisal on commercials. If you’ve browsed my website or read my blog for very long, you’ve probably read it. We offer those for free. They can be really useful in the right circumstances. If you need an appraisal for insurance purposes or because you’re going to pledge an item or for some other legal purposes, an informal appraisal won’t do the job.

However, an informal jewelry appraisal can be enough for understanding a general value when you're not doing something (like getting insurance) that requires a formal appraisal. An informal appraisal is particularly useful for items you're considering purchasing, checking the value of a collection, or for general knowledge about your jewelry's worth.

It can also tell you when your jewelry is worth enough that you really want to get it insured (and therefore, formally appraised.

The following is when an informal appraisal might be enough for you:

Quick Verification. If you just need to know if a piece is real and get a verbal opinion on its value. Before buying a piece, you may want to make sure the asking price is reasonable.

Value/Estate Plans. If you have multiple items and need a general understanding of their worth, an informal appraisal can help. It can especially help when you may not need anything formal for some time.

Market Changes. Verbal appraisals can provide a general understanding of how the value of your jewelry might have changed over time. This may help you decide which pieces, if any, to liquidate

When No Formal Need Exists. You may want to sell something to a friend and neither of you care about formality. You still want to protect each other, and a verbal appraisal can help. In these kinds of situations for personal use or a quick estimate, an informal appraisal can be adequate.

If you need either kind of appraisal, formal or informal, I can help. Give me a call or drop by my La Jolla showroom. You'll be glad you did!  

This next post might be helpful:

Should You Sell Your Jewelry to a Pawn Shop or a Jeweler? What's better?