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Appraising Your Jewellery: What's it Really Worth?By Barclay's Jewellers  Have you ever wondered what your jewellery is worth but don’t know how to find out? What is an appraisal and why should you get one? An appraisal is a typed certificate stating the description and value of your item. The value is determined based on the weight, measurement and type of metal used to create the piece; this is the Insurable Replacement Value. Insurance Companies require this if you want to have it included on your home insurance policy. It is recommended that you have a photograph of your item in case it is ever lost or stolen. Remember “a picture is worth a thousand words.” Another type of “appraisal” is Indemnity Value. Similar to a regular appraisal, weight and measurement of the materials are taken, however the value is based on fair market value for estate purposes. This is considered the value of your jewellery for a quick sale to settle an estate. Appraisals are a very important part of your jewellery “maintenance”. Most insurance companies require updated appraisals every five years. The insurable replacement value fluctuates depending on the values of the Canadian dollar, gold and gemstones. Get the most out of your jewellery – do your research and get it appraised! Bring your jewellery into Barclay’s Fine Custom Jewellers for an on-site appraisal every second Tuesday of the month (check upcoming appraisal dates on our website at www.barclaysjewellers.com). We also sell on consignment! Give us a call to book an appointment 250.592.1100.
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