Appraisals

Grimball Jewelers offers full on-site appraisal services by our Graduate Gemologist, Alan Nechemias. Along with having thirty years of experience, Alan is also a Certified Gemologist in the American Gem Society. He adheres to the highest standards for appraisal methodology.

Types of Appraisals:

• Retail replacement appraisal- As the most common type of appraisal, a retail replacement valuation should enable you to replace a lost or stolen piece in the local retail market. This valuation is used to determine insurance costs (typically $10 for each $1000 of jewelry value per year, but you would need to consult your insurance agent for specific costs on your policy). At Grimball Jewelers, we are conservative in our valuations to ensure that you will not overpay in insurance premiums. However, our valuations allow for sufficient headroom, providing validity for at least three years given normal market conditions. Bear in mind that the insurance company is only obligated to pay at the actual replacement cost, not the appraised value.
• Fair market appraisal- This valuation is used for estate and divorce settlements, and will typically be 30-50% of retail replacement value. Fair market value is a legal term defined as what a willing buyer will pay a willing seller for an item that he plans on keeping for himself.
• Liquid value- This valuation is helpful to clients who simply want to sell a piece in the short term, and is not actually an appraisal per se. As a rule of thumb, the liquid value is 25% of appraisal value.

The Appraisal Process:

What the client needs to provide:

• The piece or pieces of jewelry you want appraised
• A purchase receipt (if you still have it)
• Copies of gemstone certificates (if available)
• Any other factors you deem relevant
• Party you would like listed on the appraisal form (including their name,
  address and phone number)

What the client receives:

• A detailed description of appraised item
• A photograph of appraised item
• A statement of value
• The appraiser's name and qualifications

Appraisals are charged at $80.00/hour, with most pieces containing gemstones taking approximately an hour. A client can usually obtain a completed appraisal with full documentation a week after dropping off the item. With an appointment, a while-you-wait appraisal can be done at a charge of $90.00/ hour.