Jewelry Appraisals From A GIA DIamonds Graduate March 3, 2016 13:15
We ALWAYS recommend that people insure their engagement, wedding, or partnership rings. There are two reasons we do this - first, generally these rings are worn 24/7/365 and weird things can happen. Secondly, having all risk coverage on your jewelry is not very expensive. It Michigan most insurance companies charge somewhere between $10 to $15 per thousand dollars of value to insure it against loss, theft and even damage. So it would cost $40 to $60 per year to have a $4,000 ring insured.
Speaking of costs - many area jewelry stores charge $150 to $250 to appraise ONE piece of jewelry. We just had a lady in and she told Cliff that the chain store where her husband bought her wedding set wanted to charge $300 for an appraisal on the two pieces.
Here at Chimera we charge $75 for the first piece and $45 for each piece after that.
Cliff earned his Diamonds Graduate certification from the Gemological Institute of America in 1998 and he is celebrating his 20th year in the jewelry business this year.
If your appraisal needs to be updated, most insurance companies want them to be less than 5-7 years old - stop in and Cliff was get you all squared away for a lot less money than the mall stores.