How often do you reappraise your sparkles?

[acezarra]

Hi! I was wondering how often PSers reappraise your jewelry. I have my ring insured but have not had it appraised. I just have the GIA certificate and my purchase price. (I purchased within the past year).

Thanks for any knowledge you can provide!

AnaClare

 

[Circe]

It depends on market fluctuation. I didn't bother for the first few years, and then prices shot up, so I reappraised. My baseline is to check comps every year when my premiums come due, and go from there.

ETA for clarity: it costs me at least $200-500 for a full appraisal. And I figure I'm pretty good against the odds of having everything taken at once. So I tend to go a few years at least between reappraisal.

 

[diamondseeker2006]

If you bought in the last year you do not need to reappraise now. If anything, diamond prices have fallen a little. I might reappraise when I see similar diamonds costing 15-20% more than the original purchase price.

 

[acezarra]

Thanks! I just wanted to make sure I was covered.

 

[Modified Brilliant]

Hi! I was wondering how often PSers reappraise your jewelry. I have my ring insured but have not had it appraised. I just have the GIA certificate and my purchase price. (I purchased within the past year).

Thanks for any knowledge you can provide!

AnaClare

Important question. Good answers.
Also keep in mind the price of gold at 3 year increments:

Current December 17, 2012 $1698.10 oz.

December 17, 2009 $1107.60 oz.

December 17, 2006 $616.70 oz.

If you own gold jewelry, you may want to take a look at the date on the appraisal as you may be under-insured.