Jewellery appraisals can very detailed, there is a lot of information - but what does it all mean? You may have bought a diamond ring and you paid $5000 but its retail value was $9000. So do you want an appraisal at the $9000 retail or at the $5000 that you paid? What are the consequences for doing one versus the other?
At Gem & Jewels we would be happy to help answer any questions you may have about the jewellery appraisal business.
  • Proof of purchase
  • Expert unbiased opinion
  • Insurance purposes
  • Valuation for equitable division of property, in probating procedures (inherited jewellery)
  • Proper travel documents to permit stress free border crossing
  • Personal records
  • Division of jewellery assets for divorce settlements
  • Retail replacement value
  • A detailed description of the item. This should include identification of all gemstones along with their shape, measurements, and weights.
  • Diamonds are described by the "Four C's" colour, clarity, cut, and carat weight.
  • Major coloured gems are described by their colour with a recognized description system detailing hue, tone, saturation, and also clarity and cut.
  • Metals should be described as to their colour and carat content, 10K, 14K, 18K, etc. Platinum and/or other metal groups.
  • Pearls should be described by their color, luster, nacre, shape, blemishes, and matching.
  • Type of construction, craftsmanship and design.
  • Digital photography of the appraised jewellery
  • Suggested repairs
  • The value, purpose and function of the appraisal.
  • The date, appraiser's name and signature, addendum information and qualifications.
  • GIA Grading Scale

We are experts in dealing with insurance forms & issues.

Be aware that:
Most insurance companies will not ask for updated appraisals on a regular basis, so it is up to you to regularly have your jewellery inspected and reappraised to reflect current markets. Gold was at less than $300US per ounce in 2000 but is headed towards $2000US in 2012 - Have you updated?
Most homeowner insurance policies have coverage for unscheduled property such as jewellery but there are limits.
Most insurance companies will only pay up to the covered amount so if the current value is higher and you are under-insured, you will have to pay the difference.
Some retail jewellers will sell you an item for one price and then appraise it for a much higher price, telling you that the higher value is for insurance. Who benefits by a high appraisal?

It’s not a good idea to travel with any expensive jewellery, or anything that even looks expensive. By having flashy jewellery, you can draw attention to yourself for criminals. Even worse, you can have a problem when you return to Canada trying to prove that you didn’t buy this jewellery when you were away.
Taking the following steps before you leave Canada will make it easier for you to re-enter the country with jewellery:

  • Obtain an appraisal report and a signed and dated photograph of each piece of jewellery from a recognized Canadian gemologist, jeweller or your insurance agent.
  • Carry the appraisal reports, the certifications and photographs when travelling outside Canada

Seems like a lot of trouble to go on vacation, but if you really want to be sure your expensive jewellery is not deemed to have been purchased while away, be prepared.

You may be unaware that the Personal Property of an Estate must be inventoried and valued during the Probate process. This must be done in a timely fashion and requires the services of a Certified Appraiser who must provide a value of the Estate's contents as of the date of the Descendants' Death.
Gem and Jewels are experienced in providing legal Appraisals for the purposes of Estate Settlement and Probate.

Divorce can be a complicated and difficult procedure. In Ontario each spouse is often entitled to some portion of all matrimonial property. This term is known as equalization or the distribution of marital assets, and requires a careful description and valuation of jewellery.
Gem and Jewels can help by providing an inventory and appraisal of all of jewellery. You or your lawyer will receive a thorough report that satisfies the requirements of Ontario Court ordered equitable distribution.