When shopping for an engagement ring, look out for retailers that offer appraisals as part of your purchase. These jewelers are far more likely to be reputable, be they online or in a physical store. It is in the jewelers’ interests, as much as yours, to show that your ring is worth at least what you are paying. Honesty and transparency are crucial in an industry where people are buying such emotionally significant pieces.
The most important reason to have your jewelry appraised is so you can keep it insured in case of loss, theft or damage. Most homeowners or renters insurance policies will allow for jewelry to be added up to a certain amount, or an extra policy can be applied to an existing one.
The appraisal the insurance company will most likely require is a Retail Replacement Value appraisal, which should reflect the realistic cost of replacing your item in a retail jewelry store that regularly sells the type of item being appraised. This can vary depending on where you live, so it is a great idea to get your jewelry re-appraised if you move interstate.
It’s important to note that your GIA or AGS certificate is not an appraisal, and these laboratories are for grading only; nothing is compared to a monetary value when they are being graded. A jewelry appraisal will be created based on what the certificate reads, combined with the market value of the items at the time. Other measurable and subjective facts such as the weight and quality of the materials and workmanship will also be taken into consideration.
As part of our Lifetime Care Package, every Ritani engagement ring is appraised before it reaches you. Along with diamond certification, lifetime warranty and complimentary cleanings at your local Ritani retailer, this ensures your ring’s lasting value through all the years ahead.
Want to learn more about engagement ring appraisals? Explore the Ritani Lifetime Care Package to see the unique ways we will protect your purchase in the future.