Antique Ring Appraisal Secrets

photo credit: Bill Young

If you have an antique ring, you are probably wondering how much it is actually worth. An appraisal can be very useful in helping you determine its value. Here are some things you should know about an antique ring appraisal:

You may need an appraisal for a number of reasons, with the most common one being for insurance purposes. Most homeowner’s policies have a coverage limit for jewelry, so you may need an additional rider if your ring is especially valuable. You could also need an appraisal if you are going through a divorce and need to divide property, or have recently inherited an estate and need to estimate tax liabilities.

It can be helpful to provide some information about the ring to the appraiser. If possible, find out approximately how old the ring is and where it was originally purchased. If any previous appraisals have been done on the ring, bring them with you to your appointment as well.

Certain information should be included in an appraisal such as:

• Written description of the ring
• Digital photograph
• Type of stones
• Mounting
• Carat weight, cut, clarity and color of diamonds
• Type of metal and weight
• Special identifying features

You may need to have an appraisal done even you have had one in the past. If it has been some time since your last appraisal, the value of your ring could have fluctuated significantly, and the only way you would become aware of this would be to have it appraised.

Likewise, if you move to a new area, the value of the ring could change based upon your geographic location. As a result, you may need to have a new appraisal done every five years or whenever you move to a different metropolitan area.

Jewelers sometimes offer appraisals to their customers; however, you should know that these value estimations may not be entirely accurate. That’s because they might be done by an inexperienced salesperson rather than a certified professional. A jeweler could also be biased, or could have his or her own interests at heart, especially if it appears you may be willing to sell the ring.