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The Difference Between an Offer & Insurance Appraisal

Oct 5, 2023

Understanding the value of your jewelry and getting an offer for the right price is a skill every jewelry owner should have. Whether you are looking to have your jewelry appraised for your personal records or you are hoping to sell a piece of jewelry that is ready to move on, there is a lot to know.

In this article, we will explore the difference between an offer and an insurance appraisal for your jewelry.

What is an Insurance Appraisal vs. What is an Offer to Buy?

Knowing how to get jewelry appraised for insurance is important if you have a valuable collection or item and want to make sure that value is documented. So, what is a jewelry appraisal, and how does a jewelry appraisal work? More importantly, what is the best way to get jewelry appraised? 

A jewelry appraisal is when a professional examines and determines the monetary value of your jewelry or collection, and then makes a clear record of it that can be referred to later. It is best to get your jewelry appraised by an expert you trust, like a local jeweler or an individual recommended by your insurance company.

An offer to buy is an actual offer from a buyer to pay a specific value for a specific item or set of items. This can be based on the appraisal.

How Much Does an Appraisal Cost vs. Getting an Offer?

A jewelry appraisal cost is one key consideration when you are deciding whether or not to pursue an offer for your jewelry. How much does a jewelry appraisal cost? In truth, prices can differ. What is the average cost of a jewelry appraisal? Between $100 and $200 dollars. 

Although a jewelry appraisal may cost money, the fee can be waived, and receiving an offer is usually free. 

Does the Value for an Appraisal vs. Offer Differ? If so, Why?

You might ask yourself: are jewelry appraisals accurate—and how accurate are jewelry appraisals? Yes, they are accurate–but they can still vary, and they are likely to vary from an offer too. Although an appraisal may guide the price of an offer, a buyer will still try to get the best deal, so they may offer less for their own reasons.

Should You Get an Appraisal?

Many people get a jewelry appraisal for insurance purposes, but whether you do or not is entirely up to you. They are very useful if you want to protect your investment, and they can also help you to secure a better offer than you would without one.

Consider the timeline for your appraisal. How long is a jewelry appraisal good for—and how often should you get your jewelry appraised? An appraisal is generally only good for a set amount of time, so it is recommended to get a new one every couple of years. You should always get one before selling.

Can You Sell Jewelry for Appraised Value?

Getting the right value for your jewelry is always easiest when you know where to take jewelry for appraisal and where to sell appraised jewelry. Knowing how to get jewelry appraised for insurance is the first step and can help you to sell your jewelry for an appropriate amount.

You can absolutely sell jewelry for its appraised value. However, it is very possible that the buyer may offer you a different amount to get a better deal.

Receive an Offer for Your Jewelry at Samuelson’s Diamonds

Finding the right buyer for your jewelry is easy when you connect with a team you can trust. Our experts at Samuelson’s Diamonds know the industry inside and out and can help you to receive the value of your jewelry, so the offer is always one that will make you smile.

To get started, schedule an appointment with us today!

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