Appraisals

What you should know about Jewellery Appraisals

The Jewellery Appraisers Society of New Zealand (JASNZ) is the only specialist - professional appraisal practitioner body within the New Zealand Jewellery Industry.

Practitioner Appraisers are highly qualified people responsible for identifying-evaluation and valuation - authentication and appraising an item and/or items of jewellery in order to place a monetary value. This may be a replacement value new or and Indemnity value for insurance purposes, an estate value appraisal sought by a solicitor or a guide for others who have an interest in the property, for example, a bank or another buyer. Registered members of the JASNZ will provide you with an expert, objective, unbiased appraisal of your most treasured possessions.

What is an appraisal?

An appraisal is a written statement giving an independent and expert opinion as to the monetary worth or value of your property. This could include jewellery, loose stones, watches, antique jewellery and small items containing precious metals. An appraisal done by a JASNZ member will include as part of the Scope of work, an estimate of the current value and an accurate description of it.

Items of less than $1000 maybe listed for inventory and proof of ownership. Jewellery purchased overseas should be appraised on your return home. In case of loss, your insurance company may ask for proof of ownership and the onus is then on you.

Why is an appraisal required?

Insurance companies require a written appraisal/evaluation and/or valuation from a JASNZ registered appraiser on all valuable jewellery, watches, antiques and fine art. An appraisal ensures adequate compensation or your jewellery replaced in the event of a loss occurring.

How often is an appraisal required?

Jewellery should be appraised often to take account of changing market values. If current market value is not a major concern, an up-to-date appraisal of your jewellery and other valuable items should be obtained every two to three years. It is important to keep in mind and be very aware of the volitility in economic factors occuring with the New Zealand economy i.e Gold and Exchange Rate changes - these factors have a very large impact and effect the value of your jewellery. It is suggested that you should supply any helpful information such as a gemstone report, previous appraisals or sales certificates at this time.

Jewellery items worth more than $1000 that have not been appraised for three years may not be covered by your insurance company. Keep an inventory of all jewellery and where possible keep receipts and details of when and where the item was purchased.

How to choose an Appraiser

An appraisal is a professional opinion as to the quality, authenticity, design and value of your jewellery. It is also a legal document, so make sure that your appraiser is professionally qualified and a registered member of The Jewellery Appraisers Society of New Zealand. (JASNZ).

A appraiser has a comprehensive knowledge of the jewellery industry and conforms to the standards of honesty, integrity and expertise required by the JASNZ Codes of Ethics and Conduct. His or her Gemological qualification may include G.G. Graduate Gemologist (G.I.A.), N.G.J.A (USA), F.G.A. (England), F.G.A.A. (Australia), Diamond Grading Certificate (G.I.A.), Gemologist (GIA)       A number of jewellery appraisal laboratories carry out appraisals - but most importantly they must present and have international appraisal/evaluation and valuation appraisal  qualifications from the (AiV) and/or (AiSV) AISociety) (USA) or similar.

For information or advice talk to a (JWNZ) jeweller (look for the logo in the store window) or contact the (JWNZ) office at freephone 0508 596 942.

What will it cost?

This may be determined on a time factor – how long a competent appraiser would take to complete an item within a certain price range. Often many higher priced items may be discussed with another consultant specialist, gemologist or appraiser to arrive at a more detailed and comprehensive opinion.

Appraisal Procedures

If you are handing in your jewellery at a (JWNZ) store, your jeweller will examine each piece and comment on any work or repairs required.