Accurately Valuing And Insuring Jewelry-Accurately Valuing And Insuring Jewelry

Video Transcription

Video Summary

The webinar titled "Accurately Valuing and Ensuring Jewelry" was led by Patti Giola and Patrick Drummond. Patti, a graduate gemologist and respected appraiser, discussed trends in the jewelry market, emphasizing the growth of branded jewelry and female self-purchases. Patti highlighted the importance of having both gemological and appraisal credentials, as well as maintaining a solid reputation. She addressed the significance of regular appraisals every 3-5 years and the need for market research and documentation in appraisals. Patrick shared insights on common jewelry claims, such as loss and damage, and advised against using inflation guard endorsements due to inaccuracies in valuation. He stressed the importance of educating customers on jewelry care to prevent losses. The discussion also touched upon the impact of synthetic diamonds on the market and the difference between real and synthetic diamond values. Overall, the webinar provided valuable information on accurately valuing and ensuring jewelry in the evolving jewelry industry.

Asset Caption

Date of Publication: October 2, 2018
Duration: 1 hr

There are key coverage issues to be aware of when insuring fine jewelry. This session covers items like retail value vs. cost of production, pairs and sets clauses and jewelry salvage.

Meta Tag

Module Fine Art

Keywords

jewelry valuation

appraisal credentials

gemological trends

branded jewelry market

female self-purchases

appraisal frequency

market research in appraisals

jewelry insurance claims

synthetic diamonds impact

customer education on jewelry care