Are appraisals and insurance necessary?
It's entirely up to you, but we usually recommend appraisals for higher priced pieces. For less expensive items, it helps to think about the cost of appraisal and/or insurance in relation to the value of your piece. If the appraisal cost is a large percentage of the item’s value, you may decide it’s not worth the extra expense. Of course, it is completely up to you and we encourage you to make any decision that feels aligned for you!
Appraisals vs GIA Reports
We get a lot of questions about GIA reports – do our rings come with one, how can you get one, and how are GIA reports different from appraisals?
What are GIA reports? They are simply diamond grading reports. They usually grade the diamond or main stone in your ring (or other jewelry item) according to cut, carat weight, color, and clarity (the Four C’s). These are most commonly done on traditional white diamonds.
What they have in common with appraisals: both GIA reports and appraisals provide details on the Four C’s of your stone(s).
Where they differ from appraisals:
- Appraisals evaluate the replacement value of a piece of jewelry – providing a legal replacement value. GIA reports do not assign a monetary value.
- Appraisals look at the complete item, including the gold, the stone, and the setting. GIA reports look only at the stone(s).
- Appraisals are legal documents that can be used for insurance purposes and hold up in court.
- GIA reports are only done on loose stones - once a stone is set into a ring, it affects the grading and a GIA report can no longer be done unless you choose to remove the stone from the setting. Appraisals on the other hand, can be completed at any time.