What Is a Ring Appraisal?
When you invest in fine jewelry—especially something as meaningful as a diamond engagement ring—you’ll likely hear the term ring appraisal. But what exactly is it, and why is it important?
At Teresa and Sons, a trusted Montreal jeweller, we often guide clients through the appraisal process to ensure their jewelry is properly documented, valued, and protected.
Understanding a Ring Appraisal
A ring appraisal is a professional evaluation of your ring’s monetary worth, based on specific details like the materials used (e.g., gold karat, diamond quality), craftsmanship, and current market value.
The appraisal document typically includes:
- Detailed description of the ring (metal type, setting style, etc.)
- Diamond or gemstone characteristics (cut, clarity, color, carat weight)
- High-resolution photos
- Estimated replacement value
- Appraiser’s signature and credentials
This appraisal is usually performed by a certified gemologist or jewelry appraiser.
Why Do You Need a Ring Appraisal?
There are several important reasons to get your ring appraised:
1. Insurance Purposes
To insure your engagement ring or wedding band, most companies require an official jewelry appraisal. It ensures that in the event of loss, theft, or damage, your policy will cover the correct replacement value.
2. Resale or Upgrade Value
If you're planning to sell or trade in a piece of jewelry, a ring appraisal gives you a professional starting point to understand its current market value.
3. Estate Planning or Divorce Settlements
In legal matters, such as estate distribution or divorce, appraisals provide a fair and documented value.
How Often Should You Appraise Your Ring?
It’s a good idea to update your ring appraisal every 2–5 years, as diamond and gold prices can change over time. This ensures your insurance and personal records remain accurate.
What’s the Difference Between an Appraisal and a Certificate?
- Appraisal: A document that assigns monetary value based on a full evaluation.
- Certificate (e.g., GIA, IGI): A lab report that describes the stone’s features but does not provide a dollar value.
For example, an engagement ring with a GIA-certified diamond still needs a separate appraisal to determine its retail value.
Get a Professional Appraisal at Teresa and Sons
Whether you bought your ring from us or not, Teresa and Sons offers trusted jewelry appraisal services in Montreal. Our experts provide accurate, professional documentation accepted by all major insurance providers.
We also offer in-house repairs, resizing, and cleaning services to keep your jewelry in perfect condition, because value is about more than just numbers.
