Determining the Value of Your Assets
>> Aug 6, 2018
Assets like fine jewelry and
gemstones can be invaluable to your net worth.
They contribute to a large degree to your overall wealth. They also can be used as collateral if or when
you need to secure a bank loan.
Because of their importance in your
monetary standing, they may need to be appraised on a regular basis. You can have their values determined by
taking them to a qualified jeweler, having them professionally appraised, or
using jewelry
appraisal software to determine what they are worth.
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| image:heritageappraisers.com |
First-time Appraisals
You might wonder when you should
have your gemstones and fine jewelry appraised.
It could be recommended that you have their values determined immediately
after you receive or buy them if not sooner.
In fact, some people like to have diamonds, gemstones, and fine jewelry
appraised even before they purchase them for themselves or others.
This initial appraisal will
determine the value of the asset you plan to include in your jewelry
collection. You will have an initial
dollar amount that ideally should be close to the amount for which it has been
sold. You can then expect that amount to
rise as the asset appreciates in value.
Reappraisal
As your fine jewelry, gemstones, and
diamonds age, they typically will increase in value as long as they have been
well-kept. If they are not damaged or
significantly altered, they may become even more valuable to you.
You can have them appraised after a
few years of owning them to determine if they are increasing in value. Depending on the price that they are worth
now, you might even decide to sell them to a jeweler or to someone else who
wants to own fine assets like yours.
Making an Appointment
You may not have the time to walk
into a jewelry store and have your fine jewelry appraised. You may need to make an appointment that will
fit your busy schedule.
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