Updated: Feb 4, 2021
The quick answer: Have it appraised by a professional. Read on to find out several reasons why you NEED to do this.
This happens more often than you think
Tina was on her way home from an evening out with her friends when she looked down and noticed that her diamond was missing. Tina LOST IT! By "it" I mean her wits. Frantic to call the cab company that had just dropped her off, she couldn't hold on to her keys to get into the house because her hands were shaking so bad. What is she going to tell her husband? He worked for over a year to buy her that diamond that she picked out herself. She loved her custom ring! Tina realized that she had her ring appraised just a year prior and, even though it would not bring her ring back, she had the comfort of knowing that she was insured. Having your piece of jewellery appraised allows you to add it on to your home insurance which protects you from it being lost or stolen. Please find out more from your insurance agent.
"jewellers or goldsmiths CAN appraise jewellery,
but should they?"
So how can I find out the value of my diamond?
To find this out, you need to find a local diamond and gemstone appraiser. An appraiser has the knowledge and certification to professionally grade your diamond or gemstone. Most jewellers or goldsmiths CAN appraise jewellery, but should they? It's like having your mechanic tell you the value of your classic car. They can fix it, but that doesn't mean that they know the current market value better than an appraiser. For example, at Bruce Trick Jewellery & Accessories, I'm a jewellery designer and a goldsmith and I CAN appraise jewellery, but I won't for two reasons. The main reason is that my degree is in goldsmithing, not gemology and I don't have the proper certifications to appraise jewellery to the degree that an accredited appraiser would. And second, I don't want to appraise the custom jewellery that I make. I feel that I might have a bias opinion of my own work. So at Bruce Trick Jewellery & Accessories, I use an outside appraiser. One who is qualified and won't be bias about the piece of jewellery because I designed and made it.