Jewelry Appraisal Detroit Metro Area

A GIA-trained diamond grader performs our jewelry appraisals in person using professional equipment. We do not rely on AI estimates. When you purchase a diamond engagement ring at N.J. Diamonds, we provide a complimentary appraisal for the new ring.

N.J. Diamonds provides detailed jewelry appraisals for insurance purposes. Insurers may request an appraisal before scheduling valuable jewelry on a policy. A clear report documents the item, its identifying details, and its estimated replacement value; confirm your insurer’s exact coverage requirements directly with your agent.

In most cases, you add jewelry to your homeowner’s insurance policy as a rider. N.J. Diamonds recommends that you insure all your jewelry and update your appraisals once a year. Why should you update your appraisal yearly? Replacement costs may increase if the jewelry is lost or stolen. What cost $5,000 to replace two years ago could cost $7,000 today, so it’s best to keep your appraisal up to date.

Review your jewelry appraisal every year to make sure your insurance coverage keeps pace with today’s replacement costs.

Reasons to Update Your Jewelry Appraisal Every Year.

1. Gold prices change
   The value of gold can rise significantly from year to year. Since many jewelry pieces contain gold, higher gold prices can increase the replacement cost.
2. Diamond prices change
   Diamond values and replacement costs can fluctuate. An appraisal that is several years old may no longer accurately reflect today’s market.
3. Replacement costs increase
   The cost of manufacturing, labor, precious metals, diamonds, gemstones, and other materials can increase over time. Your appraisal should reflect the cost to replace the piece today.
4. Your jewelry may be worth more than you think
   A ring, necklace, bracelet, or other piece that was appraised several years ago may have increased in replacement value.
5. Your insurance coverage depends on accurate information
   If your jewelry is lost, stolen, or damaged, an outdated appraisal could result in inadequate coverage.
6. Protect yourself from being underinsured
   If your appraisal says your ring is worth $5,000 but the current replacement cost is $8,000, you may not have enough insurance coverage to replace it with a comparable piece.
7. You may have purchased additional jewelry
   New engagement rings, anniversary gifts, inherited jewelry, or custom-designed pieces should be added to your insurance records.
8. Gemstone values can change
   Precious gemstones such as sapphires, rubies, and emeralds can experience changes in market value and availability.
9. Your jewelry may have been modified
   If you have reset a diamond, added stones, changed the mounting, resized a ring, or redesigned a piece, the original appraisal may no longer accurately describe the jewelry.
10. An appraisal documents exactly what you own
    A good appraisal provides detailed information about the jewelry, including metal, gemstones, measurements, identifying characteristics, and estimated replacement value. This documentation can be extremely helpful if something happens to the piece.
11. It helps with insurance claims
    Detailed, current documentation can make it easier to establish what was lost and what should be replaced.
12. It gives you peace of mind
    Knowing that your jewelry is properly documented and adequately insured can provide valuable peace of mind.

N.J. Diamonds has served Dearborn and Metro Detroit since 1996. Contact us to schedule an appraisal or ask what to bring with your jewelry.

• REASONS YOU SHOULD INSURE YOUR JEWELRY ITEMS.
• Frequently Asked Questions
• The Importance of Getting a Written Appraisal for Your Diamond Engagement Ring
• It’s Not Just A Jewelry Repair, It’s Twenty Years of Experience.
• Expert Jewelry Repair