Tag: appraisals
Jewelry appraisal isn’t just about replacement value, although insurance replacement appraisal is surely one of the important reasons customers come to David Craig Jewelers so they can properly protect their jewelry. The appraisal value reflects the cost of replacing your cherished item. For new items, the insurance replacement value will basically reflect the price of the merchandise sold.
Other Main Types of Appraisals
Fair Market Value appraisals represents the jewelry in its current condition, not what it was worth when new. These appraisals are valuable for estate tax purposes, gift tax donations, IRS/Treasury Department and other U.S. government purposes. Fair market value will often be lower than the insurance replacement value. Liquidation Value appraisals are rarer and don’t necessarily reflect the true worth of jewelry under normal circumstances. These appraisals are more common in divorce settlements or estate liquidations.
Jewelry Appraisal is Different Than Jewelry Grading
A jewelry appraisal can provide you with anticipated value in today’s market, providing overall details of your cherished piece. The grading report verifies and examines the authenticity and details associated with just the gem in a piece of jewelry, not the value. Diamond grading reports, for instance, are common when purchasing engagement rings and tell you all about the diamond based on the 4Cs (cut, clarity, color and carat).
Choose the Right Jewelry Appraiser
Finding a great jewelry appraiser is well worth the research so you can be sure you know exactly what your jewelry is worth especially if your jewelry gets stolen or lost.
Make an educated choice by choosing David Craig Jewelers for your jewelry appraisal needs. David’s an award-winning member of the International Society of Appraisers and an international gem stone authority who is sought for his knowledge and expertise on the appraisal and value of fine diamonds and jewelry. He’s an American Gem Society (AGS) certified gemologist appraiser and a CAPP (certified triple appraiser of personal property.
According to Forbes magazine, the coveted gold medals being handed out at this month’s PyeongChang Winter Olympics only contain about 6 grams of 24-karat gold. The rest of that medal weight comes from sterling silver, with the medal’s overall value worth about $570 in today’s market. But the awards going to these elite athletes aren’t the only gold objects that aren’t “pure,” and for very good reasons that don’t necessarily include price considerations.
Your Precious Metal Mix
“Pure” gold is 24K or “karats,” a purity measurement that shouldn’t be confused with the “carat” in a diamond which actually refers to the weight of the stone. That 24K ring, at a degree of purity of 99.95+%, might sound prestigious. But the reality is that rings made of pure gold will bend and scratch much more easily because pure gold is a softer metal.
Most wedding bands and engagement rings are probably 14k (58.3% gold) or 18K (75% gold) which means that the gold is mixed with other precious metals to add strength. These rings contain a bit less than 60% gold in order to hold up better with less signs of wear. They’re a perfect compromise for appearance, price and durability.
Gold-plated jewelry means a thin layer of gold is applied (bonded) on top of a base metal such as copper. Gold-plated jewelry will show wear and tear since, over time, the thin outer layer of gold fades and tarnishes. Gold-Filled is a name that’s a bit misleading since the “fill” or core is actually brass, copper or occasionally silver. A thicker gold layer (at least 5% to be considered “gold-filled”) assures longevity of up to 30 years.
A Rainbow of Colors
Yellow Gold is combined with alloys like copper and zinc to add strength. White gold is often combine with palladium, nickel (the nickel makes it harder; palladium is a softer metal) or silver and then covered (plated) with rhodium which gives it the whiter color. Both yellow and white gold can be good for long-term and constant wear.
Silver looks like white gold, and, while less expensive, is a softer precious metal and may tarnish over the years. That’s why “white” wedding rings, which are usually worn daily, are made of white gold or platinum (a rarer metal that’s even more expensive than white gold) instead of silver. “Rose” gold contains copper – the more copper added the stronger the “red” look of the gold.
We could go on and on. If you’re interested in finding your perfect piece of gold jewelry, come on in and speak to the experts at David Craig Jewelers. There’s David himself— he’s got a HEART OF GOLD— and a whole team of certified consultants —they’re also veritable GOLD MINES of information! We’d love to answer your inquiries about gold, diamonds, gemstones, appraisals, or any other jewelry-related questions. You can also give us a buzz at 215-968- 8900.