Most people have both jewelry lab certificates and appraisals for
their valuable jewelry, but the two documents are not one in the same.
They serve different purposes and contain a different set of information
that is helpful to jewelry owners, as well as to people who are looking
for new jewelry to purchase.
Jewelry lab certificates and
appraisals often go hand in hand, but the lab certificate is a document
that describes information about an unmounted gem stone, like a diamond
that has not been set into any piece of jewelry, while the appraisal
provides detailed information on the market value of a piece of jewelry,
whether it is unmounted or already set as a ring, earrings, or necklace
for example
.
Choosing Labs and Appraisals
When selecting
jewelry lab certificates and appraisals on jewelry that you are
considering to purchase, it is best to select an independent company
that provides these documents rather than rely on the documents created
by the company that you are planning to buy your jewelry from.
Otherwise, you face the potential for the lab or appraiser to be biased,
since they will benefit from the sale of jewelry.
If you already
have jewelry lab certificates and appraisals on your existing jewelry,
but are unsure of their accuracy, it may be worthwhile to have your
items appraised again to see what their current market value is.
Jewelry Lab Certificates
Jewelry
lab certificates are written reports that detail unmounted gemstones
rather than completed pieces of jewelry. The certificates include
information about the diamonds (or other gemstone) cut and shape, as
well as the stone's color and clarity grades as decided by the
Gemological Institute of America (GIA). Lab certificates contain
specifics about the carat weight as well as the dimensions of the
diamond, taking into account the stone's angles.
Once the lab
certificate is drawn up, it should not change unless the stone is
physically altered or it is found at a later date that the gem stone was
evaluated incorrectly the first time.
Jewelry Appraisals
The
entire reason people obtain jewelry lab certificates and appraisals is
to document the dollar value of the diamond, whether it is for personal
investment purposes, or in order to have a physical record of the gem
stone for insurance purposes. It is also great documentation to have if
you ever decide to sell your jewelry at a future date, or pass it down
to family members.
It is wise to have your existing valuable
jewelry appraised in case it is stolen, or in the event you go through a
divorce or estate settlement. Before purchasing a new piece of jewelry
you can also get it appraised to get a good idea what the market value
is on the piece before shelling out large amounts of money to pay for it
if it isn't worth the amount of money they are asking for the piece.
