What is an Appraisal?

• An appraisal on a diamond ring is an independent inspection of the stone, setting and other features of the diamond ring. The purpose of the inspection is to find the true monetary worth of the piece of jewelry. The appraisal should be a detailed review of every feature of the diamond ring. Many people seek appraisals for insurance or resale purposes.
  
  

What Does an Appraiser Look For?

• An appraiser will first look at the stone or stones of a diamond ring. There are strict standards that gemologists use to rank diamonds, using various instruments and descriptions. The shape of the diamond can vary, from round to pear, oval to heart. The diamond's cut can influence its value as well, with brilliant, marquiae, princess or emerald cuts among the more popular cuts. The diamond's measurement and size is determined in hundredths of millimeters and karats. The color of the stone is also strictly ranked, with color given an alphabetical rank with D as the best and Z as the worst. Appraisers compare the diamond's color to a master set of color comparison stones under very specific lighting. A diamond's clarity is ranked from the best grade (IF) to the lowest (I3). Any inclusions are also noted, as they diminish the stone's value. An appraiser will also measure polish, symmetry and fluorescence of a diamond.
  
  

Valuation

• The setting is appraised using many of the same investigative and comparative techniquest that are used in valuing gemstones. If the ring is made of gold, first the type and quality of gold will be evaluated. Yellow gold, white gold and platinum each command different values in the jewelry market and the appraiser will need to know the current market value of the gold. This is the weight of the gold multiplied by the going rate per gram of gold. The purity of the gold, measured in karats, also determines the ring's gold value. Detail in craftsmanship, age of the ring and other gemstones in the setting all affect the value of the diamond ring. The appraiser will calculate and include each aspect of the ring to come up with a total evaluation that translates into monetary value.
  
  

Quality Determines Market Value

• Any appraisal reports made on a diamond ring result in a judgement of the quality of the diamond ring. An appraiser will base the value of the diamond ring based on the results of each aspect of the ring as determined by the inspection. The appraiser will describe the ring, issue a stone certificate and probably photograph the ring in the report. Usually a cleaning is included in the process. Note that the purpose of the appraisal determines the definition of the diamond ring's value. For example, if the appraisal is for insurance purposes, the value willl be listed as what it would cost to purchase a replacement ring. If the appraisal is for determining worth for an estate or as an antique, the value will represent the most common fair market value for the diamond ring. An appraisal acts as a professional witness to the details and qualities of the diamond ring.