Appraisals

An appraisal is a written description and valuation of an item for the requested purpose, performed by an expert in the buying, selling and appraising of that item, who remains independent of the selling process. Reports written by the seller and used to insure the item are not appraisals. They may or may not protect the owner properly. Reports written by the seller should be called “Reports for Insurance.” They are usually accepted by the insurance company and most often they repeat information provided by the seller during the sales presentation. Some of these reports are satisfactory. As a general rule however, these reports do not describe the product sufficiently to properly protect the owner in the event of damage or loss. In addition, the appraised value reflects only a single value in the seller’s business. It does not consider values of similar gemstones and jewelry available from other sources.

“I must admit I love estate jewelry and it is rare to find a jeweler with the extensive knowledge that Tom Tivol offers his clients. His eye for design and his ability to appraise rare pieces is amazing.  I know for a fact his reputation as well as his keen knowledge is a rarity within the jewelry industry.” — Michelle

About Tom’s Appraisal Services

APPRAISING JEWELRY IS THE MOST CHALLENGING TASK IN THE JEWELRY BUSINESS. It is much more than a service offered by many jewelers. IT IS A PROFESSION UNTO ITSELF.

Tom appraises jewelry WHILE CLIENTS SIT WITH HIM. After departing with your jewelry, he will complete his research and mail/email the appraisal report within 1-2 days.

Tom Tivol Jewels is the premier provider of jewelry, gemstone, wrist watch, pocket watch and silver appraisal services in Kansas City. We serve individual customers, estate planning professionals and insurance agents throughout the United States. Tom Tivol himself is a Graduate Geologist in Residence from the Gemological Institute of America. All of our appraisals adhere to the highest standards of testing, laboratory equipment and appraisal methodology. Tom Tivol developed the course and teaches the Art & Science of Appraising along with his Jewelry Design and Gemology courses at the University of Kansas. Tom is an attorney whose practice revolves around the Federal Trade Commission Rules for the Jewelry Industry. He brings over 46 years of experience to the business. Mr. Tivol adheres to the code of ethics set forth by the UNIFORM STANDARDS OF PROFESSIONAL APPRAISAL PRACTICE.

“We had Tom appraisal my redding ring, and also a bunch of old pieces that we had from our parents and grandparents. He did a great job, Tom is very knowledgeable and very helpful, he is the best jeweler we now. Tom is very honest and so passionate about this industry. We would highly recommend Tom, you can trust him, and that’s very rare nowadays.” — Bella

The Process

Tom is available to appraise 7 days each week. We can also accommodate off-site meetings to complete appraisals outside the Kansas City metro, or locally when clients are unable to travel to our store.

To answer all questions not covered here, please contact us directly at (913) 489-7056, or review our MOST FREQUENTLY ASKED QUESTIONS.

To instill confidence in the public, the jewelry appraiser must have both academic training and decades of experience buying and selling jewelry and gemstones. In addition, the appraiser must master the art of appraising, which includes the study of the appraisal process, understanding the requirement of research and the ethical and legal rules governing the work product.

There are many sources for gemstones and jewelry, online and in traditional formats, in your city and on trips; however, there are very few gemstone/jewelry experts and or expert jewelry and gemstone appraisers. This suggests that the appraiser relationship is as important to the security of a family as the choice of jewelry sellers over the decades.

The public requests appraisals for many reasons. Here are the 12 most commonly requested types of appraisals, in no particular order.

1. Homeowner’s/renter’s insurance.
2. To divide jewelry equally among family members.
3. For divorce.
4. To sell online, to sell at traditional auction, to sell on consignment.
5. To receive a deduction for a charitable donation under the Internal Revenue Service rules.
6. To deduct a casualty loss under the Internal Revenue Service rules.
7. To distribute jewelry through estate planning documents.
8. As collateral for a loan.
9. To support a barter agreement.
10. To confirm the seller’s representations of price, age, gemstone origin (natural, synthetic, imitation), gemstone quality, gemstone laboratory treatments, gemstone geographic origin.
11. To identify the manufacturer, designer, hallmark.
12. To identify the chronological history of a gemstone’s price.

Fees

Fees begin at $15/item. Wedding sets, including the engagement ring and wedding band vary from $30 for the set to $85 for the set, and average about $45 over the decades. The more complex the item, the higher the fee. The type of appraisal requested may also affect the fee. Appraisals for the Internal Revenue Service require more research and must be written to comply with the regulations promulgated by the IRS. The typical appraisals for home owner’s insurance and or to help you sell jewelry are less expensive. Laboratory reports on diamonds and colored gemstones, provided by the seller, are important legal documents, and a copy should be brought to your appointment. The same is true for watch guarantees, which usually contain reference and serial numbers. Fees include color photos of each item, usually from several angles. To learn a specific fee to appraise your item (s), call us at (913) 489-7056. Fees may be paid by check, cash or credit card at the time of the appointment. Fees are charged one time only. Over the decades, upon your request, we will update our report without further fee. You may have your appraisal updated as frequently as you wish. We recommend doing so every 4-6 years.

Products Appraised

We identify and appraise all gemstones, jewelry and family silver. Items that do not readily fit a specific category will be evaluated on a case-by-case basis. We will need to examine each unique piece to determine whether it is something we can appraise and what type of report is most appropriate to meet your needs.

Gemstones: Diamonds, colored gemstones, jade, pearls, synthetic gemstones, imitation gemstones, artificially treated gemstones, from the most common to the rarest, unmounted or set in jewelry, whether antique, modern, carved, faceted or polished.

Metals: All metals used to manufacture jewelry including pure silver, sterling silver, silver-plate, gold, gold-filled, gold-plated, the platinum family, titanium, tungsten, cobalt, rhodium, nobium, iron, brass, bronze, aluminum, and others.
Jewelry: Modern jewelry worldwide, arts and crafts jewelry, costume jewelry, estate and antique jewelry, carvings and objects of art using gemstones.

Silver: Sterling, 800 silver, silver-plate, gold leaf flatware and serving pieces manufactured in the United States, Russia and Europe, antique to modern.

Timepieces: Modern, estate, antique pocket watches, pendant watches, ring watches and wristwatches, worldwide.
Rough Gemstone Crystals: These may be identified and appraised if there is a flat polished surface available to allow proper gemological tools to be used for testing. If there is no such surface, our colored gemstone lapidaries can easily polish one, and then we may proceed with the identification.

Thorough descriptions of gemstones and jewelry protect the owner because they permit an insurance adjuster and another jeweler years later to determine current replacement value of a severely damaged or missing item. This is important whether the owner wishes to replace with a similar piece, upgrade or cash out. They are especially important if the item is missing. THEY SERVE THE ADDITIONAL PURPOSE of providing a fingerprint-like identity of gemstones and jewelry, so that the client who leaves jewelry to be repaired or modified can be assured by simple examination that they receive back what they left.

Finally, unlike reports provided by the seller, the appraiser’s job is to consider the value of gemstones and jewelry which duplicate as much as possible those in the pieces he is appraising, and available throughout a large geographic market, in order to determine a value that will protect the owner.

Insurance
Division
Resale

“I inherited a man’s 14k gold and ruby ring from my grandfather.  It came with a professional looking appraisal describing the ruby and stating its value for insurance.  I decided to take it to an appraiser to determine what it might be sold for currently.   I went to two jewelry stores each of which advertised their appraisal service.  Both appraisers confirmed that the ruby was natural, and then gave me a value they thought it was worth today.  After this, I was discussing what I did with my office partner, and he recommended I go see Tom Tivol, just to make certain I was getting the correct information.  I met Tom at his office in Leawood and sat with him while he examined my ruby.  After a short few minutes, he determined that the ruby was not natural and in fact it was lab grown in the 1920’s.  He then showed me the characteristics inside the stone that resulted in his conclusion.  He also told me that many jewelers and appraisers merely assume a gemstone like this is real, because it was set in a ring several generations old, and that the first lab grown rubies appeared in the American market just after the turn of the 20th century.  While the result was not what I wanted to hear, I trusted Tom‘s reputation and the process he used to identify the ruby, and realized I no longer had  to pay to insure the stone.  It was just part of my keepsake from my grandfather.  Tom‘s gemstone expertise and patience hearing my story created the kind of trust I had been looking for in an appraiser.   My wife and I from now on are going to use Tom to appraiser our jewelry, regardless of where it came from.” — Larry

Insurance Appraisals

Of all appraisals, the jewelry appraisal for the homeowner’s or renter’s insurance policy is the most frequently requested. The client presents our report to his agent who then forwards it to the underwriter. The newly insured item is then listed on a fine arts schedule which is appended to the homeowner’s policy that protects the home and its contents.

Tom performs this appraisal WHILE THE CLIENTS SIT WITH HIM. After they leave with their jewelry, he will complete his research, prepare his formal report and mail it with color photographs within 1 to 2 days.

The best insurance appraisals describe gemstones and jewelry completely, clearly and accurately, thus enabling a future jeweler and insurance adjuster to determine a proper replacement cost for a damaged or missing item. This report is an important document, similar to the legal documents that protect families and their assets. If it is written once correctly, it will never need to be re-written, only updated for current values on a regular basis.

We advise our clients to retain a copy of this report and place it and the photographs in a safe place for future reference. Please see the FAQ section for additional information.

Dividing Jewelry

For many families, dividing jewelry equally among beneficiaries is important, whether this is accomplished during your life or through estate planning documents. To give the recipients relatively equal value, the value of personal property should be stated in its cash equivalent terms. In this way, it does not matter how many items are given to one person over another, as long as the total cash value given to each person is similar. Just as you would never use cash value to insure the item, you would likewise never use the insurance value to distribute the item.

With more than 46 years of experience working in the secondhand jewelry market, Tom Tivol is an expert at determining the appropriate cash value of jewelry. To determine cash value, Tom identifies the various ways to sell jewelry and the value that may be obtained using these methods.He approaches each valuation by determining the most common market for the resale of the item in its condition, identifying a potential buyer and determining what the buyer should pay.

Resale Apprisals

Resale appraisals are helpful in certain circumstances but not in others. Here is how you decide whether an appraisal will help you sell your jewelry:

If you intend to sell your jewelry on the internet (as in eBay) or to another member of the public through business or personal acquaintances, a written appraisal should accurately describe the item and help you establish its fair market value. You want your buyer to be able to take your item to their jeweler and verify your description and value.

If you intend to sell to a jewelry store, a written appraisal will not help, as all jewelers who buy from the public will have their way of analyzing the quality and gauging their interest before making an offer. You do not need the independent appraisal because it is your intention to accept the high bid, once you visit enough jewelers to perform due diligence in the process. Older appraisals you may have retained have no bearing on what a current jeweler might offer to buy your item(s).

IF YOU INTEND TO SELL VIA TRADITIONAL PUBLIC AUCTION. There are many well-known auction companies around the United States. Each has a jewelry department. To determine whether you should use an auction house, those departments must see your jewelry. An independent appraisal will not help you. The auction house must see the item and any laboratory reports you may have on the center gemstone. Some auction houses are able to give you some information after you email a photo and copies of any laboratory reports. Their final judgment however is reserved until they see each piece.

IF YOU INTEND TO RESEARCH SELLING ON CONSIGNMENT. For consignment, you do not need an independent appraisal. The jeweler who accepts jewelry on consignment will have enough knowledge of gemstones and jewelry to be able to determine what he/she believes is an acceptable resale price as well as the dollars that you would receive in the event of resale. Previous appraisals are unnecessary; however you should bring to your appointment any laboratory reports on gemstones. In 2020, there are various companies around the world that accept jewelry on consignment and there are usually jewelry stores in almost every city that accept jewelry on consignment.

CAN AN APPRAISER PURCHASE JEWELRY FROM THE PUBLIC
No! This would be considered a conflict of interest and would immediately prejudice the value and or description provided by the so-called appraiser. If you wish to sell jewelry to a jeweler, you do not need an appraiser or appraisal. You only need to find 3-5 jewelers in your city who purchase from the public. Jewelers are approached every day by the public to provide offers to purchase jewelry. Their offers have no relationship to any kind of appraisal you may have retained over the years.
CAN AN APPRAISER DESIGN, SELL AND OR REPAIR JEWELRY?
Yes! The conflict of interest rules prohibit the appraiser from making an offer to purchase the pieces he evaluates. They do not prohibit the appraiser from providing products and other services to the public.
CAN I WAIT WHILE MY JEWELRY IS BEING APPRAISED?
Yes. I like my clients to sit with me. This makes them feel secure, and it allows me to converse with them, which often reveals information that assists the appraisal process. You may request an appointment or just stop by. After inquiring about the number of pieces and the purpose of the appraisal, I then estimate the length of our appointment and provide the fee. I charge my fee only once. Then, over the decades, upon your request, I will update my report at no charge. After you depart with your jewelry, I research the value, prepare the appraisal and mail it with color photographs within 1 to 2 days.
WHAT IS THE COST OF AN APPRAISAL?
Appraisers charge by the piece. My fees begin at $15/piece. Over the last 46 years, fees average $38/item. I am happy to determine the precise fee by phone, after you describe your item(s) and tell me the purpose of the appraisal. Fees may increase with complex jewelry containing multiple gemstones each of which must be identified, measured, graded and valued and or when it becomes important to determine both laboratory enhancements to and geographic origin of gemstones. The home owner’s or renter’s insurance appraisal is usually inexpensive. The cash equivalent value appraisal to help customers divide jewelry among family members is the least expensive. Appraisals for charitable donation and or casualty loss deductions require detailed knowledge of the Internal Revenue Code (and which are attached to tax documents) are generally the most expensive to perform. It is unethical to charge a fee based on the value of the piece. Payment is made at the time of the appraisal, by credit card, cash or check.
HOW DOES THE APPRAISER DETERMINE THE FEE FOR EACH PIECE?
There are two parts to every appraisal. The first is accurate identification and thorough description. The second, which takes the most time, is research. Research must be done to find pieces of like kind and quality and determine their average selling price. This varies from easy to extremely difficult. It must be done so that the appraiser when asked can explain to his client the research results which resulted in the final appraised value.
CAN I GET MY APPRAISAL UPDATED OVER THE YEARS WITHOUT TAKING THE JEWELRY TO THE APPRAISER AGAIN?
Yes, as long as your insurance company permits this service. Some do and some do not. The appraiser must indicate on the updated report that the work was accomplished without viewing the jewelry. Thoroughly professional appraisals performed the first time allow this to work. When I perform the initial appraisal, all future updates are free.
HOW OFTEN SHOULD I HAVE MY APPRAISAL UPDATED?
As often as you wish. As a general rule, every 4 to 6 years is a good standard.
DO YOU REMOVE GEMSTONES TO APPRAISE?
No. The only exception occurs when there appears to be a significant conflict between the seller’s representation of gemstone weight/quality and the appraiser’s judgment, and it becomes necessary to remove the stone to determine accurate answers. When this happens, my customer is present to observe both the removal and the resetting.
WILL YOU UPDATE ANOTHER PERSON’S WORK?
No. If I have never seen the jewelry, I must see it to perform my initial appraisal.
WILL YOU APPRAISE ONLINE DESCRIPTIONS?
No.
SHOULD ONLY EXPENSIVE JEWELRY BE APPRAISED?
No. Any kind of jewelry may be appraised for any reasons you wish, but especially so that you can insure it on your fine arts rider, which is then appended to to your home owner’s policy that protects your home and its contents. Most individuals and families choose a value. Below that value they choose not to appraise or insure. Above that value, pieces are appraised and insured. Over the decades, that value has varied between $250 and $1000. However it may be lower or higher, whatever you wish. Another good test would be: if you severely damage or lose an item, will you make a claim to your insurance company in order to either replace the item or cash out. If you would make a claim, then you should obtain an appraisal and have the item scheduled on your fine arts rider. In the last decade, insurance companies have created “bundling clauses,” where every piece that does not exceed a certain cost is “bundled” together, and appraisals for each piece may no longer be required by the insurance company. See my answer to Question 12 below.
DOESN’T MY HOMEOWNER’S POLICY COVER MY JEWELRY IF I DO NOT HAVE IT APPRAISED?
Yes, there is some coverage, but it is limited. Generally speaking there are 3 limitations. First, there is a deductible to pay. Second, there is a maximum amount of coverage allowed for a single item. Third, there is a maximum amount of coverage allowed for all jewelry, cumulatively. There are also policies which “bundle” all jewelry where individual pieces have a value of no more than $5000, and an appraisal is therefore not required on each item to obtain coverage. The challenge of the “bundling clause” is, in the event of a loss, since you do not have an individual appraisal, how do you determine the replacement cost when you make your claim? Your insurance agent is the best source for information on the coverage limitations for jewelry without appraisals.
HOW DO YOU DETERMINE THE VALUE OF AN ITEM FOR INSURANCE?
The purpose of the insurance appraisal is singular … to protect the owner in the event of damage or loss of any kind, and to allow the owner to shop for a new item in many kinds of jewelry stores, or to cash out for current value. The appraiser does not ask where you purchase jewelry or what you pay. Instead, the appraiser researches the value of that piece or one of like kind and quality, to determine its retail selling price in a large number of stores, both on line and in traditional brick and mortar venues. The result of the research provides the appraiser with the value that is high enough to fulfill its purpose.
IS THE INSURANCE VALUE THE SAME AS THE RETAIL VALUE?
Yes and no. It may be, if the retail value fulfills the purpose of the appraisal. If the retail value is closer to the wholesale cost, then the answer is no. The value for insurance must then be higher. Example. The manufacturer’s suggested retail price of a wristwatch is a good benchmark for the appraisal, even if the customer purchased the watch at a discount. However the average retail selling price of a diamond in 2018 is very low, too low in fact to fulfill the purpose and function of the insurance appraisal.
CAN I TALK WITH MY APPRAISER ABOUT HOW TO SELL JEWELRY?
Absolutely. A professional appraiser will know his/her local and regional marketplace. Which jewelers buy from the public? What do they pay? Is the piece of a style or type that may be sold on an internet auction? Is the piece of a type where the most dollars may be obtained through consignment? Should the piece be refined, and the gemstones used in other jewelry or sold? What is the value of the piece as a trade-in to help pay for new jewelry? These are all questions properly given to your appraiser. When you make your appointment, tell your appraiser that you have jewelry you are considering selling and you need professional advice on how to go about it. One way to know quickly if you are dealing with an honorable appraiser is if he/she immediately wants to examine the pieces and make you an offer. Licensed ethical appraisers cannot purchase from the public. It is considered a conflict of interest.
WHAT IS ANTIQUE VALUE? CAN VINTAGE OR PERIOD JEWELRY BE MORE EXPENSIVE BECAUSE OF ITS AGE?
There is no such thing as antique value, except for pieces made during and before the 17th century. No, the age of vintage/period jewelry from the 18th century forward should not create a premium price. The features used to determine the cost of old jewelry are identical to those used to determine cost of new jewelry. These are the metals used, weight and quality of gemstones, method of manufacture, beauty and function of the design, name of designer/manufacturer, execution and comparative rarity of the piece. Words used by sellers to promote age are merely part of the sales presentation. If the representation of age is accurate, this may create additional interest, BUT AGE ALONE SHOULD NOT CREATE ADDITIONAL COST.
WHEN I PURCHASE JEWELRY ON A TRIP, SHOULD I BRING IT TO MY APPRAISER TO EXAMINE?
Yes, if you wish to confirm information provided by the seller. Yes, if the seller’s documents do not describe the features of the gemstones and jewelry thoroughly. Yes, if the seller has provided sub-standard laboratory reports to support the sale of gemstones. Yes, if you wish to insure the item and the seller did not provide you with a report for that purpose.
CAN MY APPRAISER EXAMINE MY JEWELRY TO SEE IF ANY GEMSTONES ARE CHIPPED OR IF ANY REPAIRS ARE NEEDED?Your Title Goes Here
Yes, this is routinely done and the appraiser discloses to his client anything that requires attention immediately or will need to be taken care of in the near future. Many insurance companies will not insure jewelry where gemstones are chipped. You may determine this with a quick call to your insurance agent. If that is the case, the appraiser can determine the cost to repair the chipped gemstone plus any change in value after the repair is completed. Chipping is considered damage under most insurance policies, and many clients choose to submit a claim when this happens. The claim may be only to repair the stone and provide a check for the difference in value before and after repair, or the claim may be to replace the chipped gemstone entirely. The best insurance policies allow you to do either. SEE QUESTION/ANSWER #38 for additional information.
IS MY APPRAISAL VALUE IN ANY WAY AFFECTED BY WHETHER I HAVE PURCHASED REPLACEMENT COST COVERAGE OR AGREED VALUE (CONTRACT) COVERAGE?
No. The appraisal process and the resulting value have nothing to do with the type of policy and coverage you purchase. See my answer to Question 34 regarding these two types of coverage.
IS THERE A FEE TO EXAMINE A GROUP OF PIECES JUST TO DETERMINE WHAT SHOULD AND SHOULD NOT BE APPRAISED?
No, and this should be done at the beginning of the appointment.
I PRESUME ONE CANNOT INSURE SENTIMENTAL VALUE, RIGHT?
That is correct. However many clients still wish to insure relatively inexpensive jewelry because in the event of damage or loss, they desire to make a claim rather than absorb the loss out-of-pocket.
CAN SILVER-PLATED FLATWARE AND SERVING PIECES BE EASILY SOLD?
Very difficult to accomplish. There are significant quantities of these available for resale at very minimal prices, often in pawn shops and antique malls. In addition, they cannot be refined, as the cost of refining is greater than the tiny amount of silver obtained. Sometimes sterling silver flatware and serving pieces may be sold, and this should be determined by your appraiser before you refine the metals. If the piece (s) is sterling, it will be marked with the number 925 or the word sterling or perhaps the abbreviation sterl. If the piece is not marked, in almost every instance, it is silver-plated over base metal, like copper. Hallmarked pieces, whether manufactured in the United States, Europe or Russia, may be sterling or silver-plated. The fact it is hallmarked does not by itself allow the appraiser to assume the identification of the metal.
DO YOU APPRAISE FAMILY SILVER FLATWARE AND SERVING PIECES?
Yes. This is a relatively inexpensive appraisal if all pieces are part of the same design from the same manufacturer, which makes the research quick and simple.
DO YOU APPRAISE SILVER FLATWARE AND SERVING PIECES IN YOUR OFFICE OR AT CLIENTS’ HOMES?
Both. There is no additional fee to come to a client’s home.
SINCE YOU RETAIN COPIES OF YOUR CLIENTS’ INSURANCE APPRAISALS, CAN I REQUEST AN APPRAISAL FOR A DIFFERENT PURPOSE AT SOME POINT IN THE FUTURE?
Yes. Once I have performed the insurance appraisal, I can then send my clients any information they wish about any of the pieces, including how to sell them, how to divide them equally in estate planning documents, how to donate them to qualified charities, and so forth.
DO YOUR APPRAISALS COME WITH PHOTOGRAPHS?
Yes, every piece is individually photographed at different angles, in color, and these are sent with the signed original to the client. After the appraisal is faxed to the insurance agent, the client should retain the signed original and the photos in a safe place.
SHOULD I BRING MY OLD APPRAISAL/LABORATORY REPORT TO MY APPOINTMENT?
Yes, because these reports may contain accurate information about mounted gemstones. THE BEST APPRAISAL RESULTS FROM A PARTNERSHIP between the customer and the appraiser. Any data you have from other sources which might make your appraiser’s work more accurate should be brought to your appointment. Your appraiser will still independently evaluate your gemstones and jewelry.
WHY DO I NEED AN APPRAISAL WHEN I HAVE ONE FROM THE ORIGINAL SELLER?
Often the report supplied by a seller simply repeats the information presented during the sales presentation. Usually this is not sufficient to describe the item thoroughly which makes it more difficult for a future jeweler and adjuster to determine value. Also, a value provided by an expert who is independent of the sale and who researches the current value may more properly protect you on your fine arts rider.
IS IT IMPORTANT TO OPEN MY WATCH TO APPRAISE IT?
replacement cost. Some insurance companies no longer insure wrist watches without the serial and reference numbers of the case and movement.
I HAVE A RING WITH A STONE THAT CHANGES COLOR UNDER CERTAIN LIGHTS. IS THE STONE ALEXANDRITE?
In addition to natural alexandrite (which is a variety of the mineral chrysoberyl), there are a number of additional natural, synthetic and imitation gemstones that change color under different lights. One of these is synthetic color change sapphire which was manufactured during the first 20 years of the 20th century. This is the gemstone most often brought to me by families who have been told it is natural alexandrite. Another color change gemstone is synthetic alexandrite, which was first manufactured in the 1970’s. Color change natural sapphire is a relatively uncommon gemstone, purchased mostly by collectors. Of all of these, natural alexandrite is the most expensive by far. Natural alexandrite from Russia, mined in the 19th century, is the rarest alexandrite, if the color change moves from red to green, with no brown or violet. The few Russian alexandrites which enter the world market annually always come from estates. Newly-mined natural alexandrite comes from Brazil, Sri Lanka and India and a few less important sources. These alexandrites almost always have some strong purple mixed with the green and red.
CAN YOU TELL ME HOW MUCH THE VALUE OF MY DIAMOND HAS INCREASED OVER THE PAST 25 YEARS?
Yes. This is called a retrospective appraisal.
IF I DONATE MY JEWELRY TO A CHARITY, CAN I DEDUCT ITS APPRAISED VALUE PROVIDED TO ME BY THE SELLER?
No. You must obtain a fair market value appraisal from an expert appraiser in this specialty field. If you donate to an auction held by an IRS-approved qualified charity, currently you may deduct the amount of the high bid, regardless of what you originally paid for the item. If you donate to an institution which uses your item (s) in the normal course of its business, like a university metal smithing or gemology program, the appraiser must supply a fair market value report which you attach to your federal income tax filing for the purpose of obtaining a deduction.
I PURCHASED MY DIAMOND ONLINE. WHEN YOU APPRAISE IT FOR INSURANCE, DO YOU USE INTERNET DIAMOND PRICES OR REGULAR JEWELRY STORE DIAMOND PRICES?
I use both, depending on which venue provides you with the best protection. By 2010, the price of diamonds on line and in most jewelry stores had become highly competitive. In fact, many traditional brick and mortar jewelry stores in 2018 regularly beat the price of online diamond websites, in order to establish a professional relationship with you for future purchases and jewelry services like appraising and repair.
WHAT IS THE DIFFERENCE BETWEEN REPLACEMENT COST INSURANCE AND AGREED VALUE INSURANCE?
For a replacement cost type policy, you provide your insurance agent with an appraisal and the item is then scheduled on a fine arts rider. When a claim is made, the insurance company determines the replacement cost, based on its buying power and relationships with various jewelers. The replacement cost is high enough so that if you wish to replace the item, there is enough money. You may also choose to cash out instead of replace. Your check is almost always lower than the appraised value. Agreed value coverage is the opposite. You turn in your appraisal and the item is scheduled on your fine arts rider. However when you make a claim, your insurance company sends you a check for the full appraised value, not a lower replacement cost. Most of the agreed value companies also will allow you an additional 50% increase in the amount of your check, if you have neglected to update your appraisal over the years, and the current selling price is that much higher. Obviously the annual premium for agreed value coverage is higher than for replacement cost coverage. Most of the well-known insurance companies are replacement cost vendors. These include State Farm, Farmers, Allstate, Farm Bureau, USAA, Liberty, American Family and many more. Agreed value companies include Chubb, Fireman’s Fund, AIG, Zurich, AAA and a few others. Information on the differences between replacement cost and agreed value types of insurance may be obtained from any independent insurance agent.
I KNOW THERE IS AN ONLINE COMPANY THAT SELLS JEWELRY INSURANCE. WHAT IS ITS NAME AND IS THERE AN ADVANTAGE TO USING IT OVER MY RENTER’S OR HOME OWNER’S POLICY?
The name of the company is Jeweler’s Mutual. It is a very old and highly reputable replacement cost company, specializing in jewelry insurance. It is used by the public as well as jewelry businesses. The advantage of using Jeweler’s Mutual is that if you ever make a claim, because it is an entirely separate company, the annual premium for your renter’s or home owner’s policy will not increase. I recommend to my clients to check the annual premium to schedule jewelry with Jeweler’s Mutual, and compare it to the premium they pay their renter’s or home owner’s company.
CAN I HAVE MY GEMSTONE (S) IDENTIFIED BUT NOT APPRAISED?
Yes, and generally the fee is quite low. An exception would be if the gemstone is flawless or nearly flawless, and the gemologist-appraiser needs to take much more time examining the stone, in order to identify its origin as a natural gemstone or a laboratory created gemstone. For certain gemstones, even the best gemologist-appraiser cannot make a conclusive identification. In that instance, you will be advised to send the stone to the Gem Trade Laboratory at the Gemological Institute of America in Carlsbad, California for accurate identification. When the stone is returned, your appraiser can then value it for the purpose you wish.
IS MY JEWELRY INSURED IF I KEEP IT IN A SAFETY DEPOSIT BOX IN MY BANK?
No, not usually. Many insurance companies sell what is termed “vault insurance.” This type of policy allows you to remove your jewelry from your bank vault a certain number of times per year, and then return the item (s) to the vault soon after use. Vault insurance is always much less expensive than scheduling your pieces on a fine arts rider while keeping them at home.
HOW DOES A CHIP IN A GEMSTONE AFFECT ITS VALUE?
The gemologist first determines if the break is in fact a chip versus a natural flaw on the surface, which has been there since the stone came from the earth. If there is a question of identifying the break as a natural flaw or chip, the diamond may be sent to the Gemological Institute of America for its damage report. If it is in fact a chip, as previously stated, a chip is considered damage under most policies, and the owner may file a claim to repair the stone or replace it. How much is the value of the gemstone decreased by the chip depends on its size, type, location and whether it creates a future durability problem in that section of the stone. Some chips are minute and may be easily repaired, and the gemstone loses no dimension and almost no carat weight in the process. Other chips are more serious, as when they occur on the sharp point of a princess cut or marquise diamond. In this instance, to repair the chip located on a point, the opposite point on the stone must be slightly recut, so the diamond remains symmetrical. Even here, sometimes very little dimension/carat weight is lost.

What Customers Are Saying

“My wife inherited a cameo pin from her great aunt.  The cameo was carved from agate with 2 Roman soldiers on two horses for the raised portion of the carving.  We were told to go see Tom Tivol because of his expertise in jewelry repair and because he teaches the history of gemstone and jewelry design at K.U.   My wife wanted the pin changed to a pendant so she could wear it daily.  Tom handled the entire process with expertise born from decades of experience repairing jewelry along with academic study of antique gemstone cameos.  His detailed receipt with photos made us feel totally secure with his care of our cameo.  He detailed the process of creating a pendant from the pin, and when it was finished, he presented it to us and also returned the “pin hardware” that he had removed in the process.  We could not have been in better hands!” — Helen and George

“I was in the process of trying to determine how to gift my jewelry to my children and or grandchildren, as part of my estate planning documents.  I was referred to Tom Tivol because of his appraisal expertise in this sensitive area of appraising fine art along with his legal background in this area.  My desire was to try and give each recipient close to equal value.   I met Tom at his office by appointment and sat with him while he examined my pieces.  He explained the differences between retail insurance appraisals, appraisals for charitable donations, appraisals for divorce and fair market value appraisals used for many purposes, including gifting or dividing jewelry among family members.  Once he identified gemstones and metals, we compared values provided for insurance with fair market value for gifting jewelry and gemstones, and Tom explained to me why fair market value is the correct standard to use for this task.  I was able to depart with my jewelry, and my appraisal followed by mail a few days later.    Tom is an authentic expert, having spent his life in the study of gemstones and jewelry, and even more important, he has the ability to teach his clients in a common sense fashion how to get this accomplished.” — Ola

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