Summertime is high season for home buying and selling. Take these steps to ensure that your jewelry is safe during the process of your move.

Before Listing Your Home

Take an inventory of your jewelry collection. Compare it with your jewelry schedule on your insurance policy to make sure all valuable pieces are currently covered. If you see some items missing from your schedule, talk to your insurance broker or agent to get those scheduled. Also, if your jewelry has not been appraised for two or more years, consider having your appraisals updated to ensure you are fully covered.

Consider storing jewelry you don’t regularly wear in your safe deposit box at the bank while your house is on the market. This will help limit loss and damage during your move. If you have a vault at home, store your jewelry there any time you have a showing in your home. If you don’t have a vault at home, carry all jewelry with you while your house is being shown.

Packing and Moving

Avoid wearing your jewelry while packing and moving. Both are hands on tasks and can lead to prong breakage, chipping or abrasion of your diamonds or gemstones, or even loss. Wait, diamonds chip? Yes, they certainly can due to a blow in just the right angle. Diamonds are the hardest mineral known to man. Hardness is directly related to scratching. Diamonds are also extremely durable, which makes them a perfect gemstone for wedding rings. However, they are not indestructible and can chip with the right angle and force.

Take another inventory of your jewelry the day before your move. This will ensure you have your entire collection for the move. If you are hiring movers, plan to carry your jewelry with you. Don’t pack your jewelry along with other items. Theft during your move is a considerable risk.

Settling into Your New Home

Again, avoid wearing your jewelry as you unpack. Think about your jewelry as if it were a silk blouse. Neither are appropriate wear during unpacking nor moving items around your new home.

Take a final inventory once you are settled. Each time you inventory your jewelry collection, it allows for immediate awareness of a possible loss. Making a claim sooner rather than later is always best.

Finally, when you purchase an insurance policy on your new home, your insurer will need an appraisal that is no older than one year (some require two years). To avoid a gap in coverage, try to get this done before you close. Seek out a Certified Appraiser who has been credentialed through the International Society of Appraisers or the American Society of Appraisers. Unlike real estate appraisers, personal property appraisers (including jewelry appraisers) are not required to be licensed. Ask the appraiser about their qualifications prior to the service to ensure you are working with the most qualified appraiser. Consequently, doing this will guarantee your appraisal is thorough and accurate preventing headaches in the future.

Summer is right around the corner and many families will travel. If this includes you, consider these steps for the protection of your jewelry.

Before You Go

Check your insurance policy to make sure all your jewelry is listed. Talk with your insurance agent about adding any items missing from the schedule. Also, if your appraisals are three years old or older, it’s time for an update. Seek out a Certified Appraiser and Graduate Gemologist for the appraisal update.

Think about your destination. Are the areas you are traveling to considered safe? If it’s at all questionable, don’t hesitate to either wear no jewelry or very minimal and simple pieces. Consider putting the jewelry you leave behind in your safe deposit box or if you have a home safe, secure it there.

Packing

Be choosy about what jewelry you take on vacation. If you’re headed to an outdoor adventure, consider leaving behind your engagement ring. Avoid unnecessary wear and tear or possible loss from the action of rock climbing, skiing, boating, or hiking. If you’re headed to a relaxing beachside vacation, think about jewelry combinations that will work with several different outfits and occasions. The idea is to limit the number of pieces you travel with.

Additionally, pack your jewelry in either a jewelry roll designed for travel or in separate small plastic baggies. Keeping your jewelry apart from one another will prevent scratching and chipping that occurs from carrying items together. Finally, be sure your jewelry is with you at all times. The safest option is to transport your jewelry in your carryon luggage or, better yet, in your purse.

While at Your Destination

Use the in-room safe at the hotel to store the jewelry you’re not currently wearing. Be sure to use a unique combination. Don’t leave any items on the bedside table or on the bathroom counter. If the room does not have a safe, the front desk likely does and will store your valuables for you. If you’re staying at an Air BnB, it’s best to keep your jewelry on your person at all times to avoid loss to burglary.

If you’re traveling to an area that may be on the less safe side, wear your jewelry with great caution. A client recently told me his friend was robbed of his Rolex outside of a nightclub in Miami. Be aware of your surroundings and the time of day you choose to visit certain places.

Upon Return

Take a thorough inventory of the jewelry you took with you and the jewelry you left at home to ensure everything is still with you. If you have discovered you suffered a loss, you can make a claim in a timely fashion when all details of your circumstances are clear and fresh.

If you follow these tips, you are assured that you will enjoy your vacation and come home knowing your jewelry has traveled safely as well.

Most people have no idea what happens behind the scenes when their jewelry is appraised. Some assume that it’s a very quick process involving a brief look and “presto!”, an opinion of value is given. If you have the opportunity, choose an appraiser who offers by-appointment service. This gives you the chance to see firsthand how the appraisal process works.

In fact, the appraisal service is a very thorough and involved task. Essentially, an appraisal is a four-part process. First, the appraiser has a conversation with the client about their situation. Are they going to insure their jewelry? Sell? Divide the proceeds among family members? Or perhaps, donation? Each of these situations requires a different type of appraisal report.

Examination

Next, your jewelry is professionally cleaned and a thorough gemological examination is performed. A complete standard gemological lab is necessary to ensure an accurate assessment of your jewelry. The cost of such lab equipment can run $25,000 or more. Diamonds should be screened with a synthetic diamond detector for possible synthetics. Diamond color grading should be performed with GIA-Certified Color Master Stones, not a CZ set. A “legal for trade” diamond scale should be used for accurate weight information.

An initial check under the microscope of any condition issues is followed by testing of the precious metals, noting the type of manufacture, noting any trademark stamps which assist with possible designer origin. The gemstones and diamonds must be identified, and any treatments detected and noted. With the advancement of synthetics and gemstone treatments, these processes have become more difficult, requiring the appraiser to be up-to-date in detecting synthetics and treatments.

Quality factors are assessed, and measurements and weights are taken for each gemstone and diamond. It is critical that the appraiser accurately grade each diamond and gemstone as even a difference of one grade can equal thousands of dollars in value.

Watches must be examined for authenticity, condition, and model or style. Movement type, materials used in the case and bracelet, as well as the detection of any aftermarket parts must be assessed.

Value Research

The third step is value research. Contrary to popular belief, appraisers do not set values. Rather, appraisers report values. Depending on the type of appraisal, various markets are researched. In the circumstance of insurance replacement appraisals, current retail markets are researched. With estate or equitable division, auction markets are examined for Fair Market Value. It’s important to find like kind and quality comparables when conducting this research.

Report Writing

The last step in the appraisal process is report writing. No longer is a one-page appraisal sufficient. It is imperative the report be thorough and accurate to ensure the client is properly protected for their specific situation. Information regarding procedures used and limiting conditions that may exist, as well as, resources used for value research should be included. And, of course, the actual description of the jewelry should be a part of the final report along with any related paperwork, certificates of authenticity, or lab reports. Additionally, the appraiser’s credentials and background and experience should be appended.

Last But Not Least

Above all, who is appraising your jewelry is every bit as important as how. Unlike real estate appraisers, personal property appraisers (including jewelry) are not required to be licensed, nor are they regulated. This means anyone can call themselves an appraiser regardless of level of (or lack of) education, experience, and vetting. Look for a jewelry appraiser who is a GIA Graduate Gemologist and has been credentialed through an industry organization, such as the International Society of Appraisers or the American Society of Appraisers. Be sure your appraiser is up-to-date in equipment and knowledge. After all, your appraisal is your peace of mind.

WHO…

Who should you consult for jewelry appraisal services? While real estate appraisers are required to be licensed, personal property (including jewelry) appraisers do not. That means anyone, regardless of education, experience and credentials, can represent themselves as a “jewelry appraiser.” Consequently, this puts you at risk. Look for a MINIMUM of a GIA Graduate Gemologist. Above all, your appraiser should also be associated and credentialed through an industry organization like the International Society of Appraisers or the American Society of Appraisers.

WHAT…

Any jewelry that exceeds your standard jewelry coverage on your homeowner’s policy should be appraised. The appraisal can be submitted and used to schedule your higher value items. If you carry blanket coverage, it is still wise to have your collection appraised. Your appraisal will serve as an accurate inventory in case of a loss.

WHERE…

While you can find appraisal services at a jewelry store, jewelers are often compromised by their own self-interest. Seek out an independent appraiser who operates with your best interest in mind. An independent appraiser has no bias or motivation and can offer the most accurate and concise appraisal report.

WHEN…

In order to stay up to date with the market, update your appraisals every 3-5 years. If you purchase a new home and therefore, a new insurance policy, you may need an appraisal that is less than 2 years old. Consult with your insurance agent or broker and appraiser for advice on updates.

WHY…

Your appraisal protects you. It helps define your insurance policy coverage and assures a comparable replacement in the event of a loss. Your appraisal assists in dividing the family owned jewels in a fair process. Your appraisal defines “fair market value” in the event of a divorce. Financial planners, trusts and estates all rely on a professional appraisal to support your financial goals.

Your appraisal is an essential document with information to help protect you, specific to your situation.
Your appraisal is your peace of mind.