One of the first questions an appraiser may ask you is, "Why do you need this appraisal"? This may seem like a nosey question to people who are unfamiliar with appraisal practice, but it is in fact an indication that you may be speaking with a trained professional appraiser.

There are many reasons for having your jewelry appraised, and the value of your personal property is different in each of a variety of situations.  Each appraisal must be written for one specific intended use.  Some appraisals have definitions of value dictated by law.  With others the appraiser chooses the appropriate type of value and appraisal method for the situation.  However, accessing the value of your jewelry is only one of the appraiser's jobs.

The appraiser has three functions, and all of them important to you.  First, the appraiser is an identifier. Your jewelry must be identified as to the materials, workmanship, condition and any other elements affecting its value, then evaluated - ranked in quality in relation to all other similar property. Second, the appraiser is a valuer.  A value must be assigned to the jewelry that is appropriate to the intended use of the appraisal. Third, the appraiser is a witness to the property. The appraiser can attest in a court of law that the jewelry existed at a certain point in time, that it was in a certain condition, and that it was valued according to accepted valuation practice. (That is why it is necessary for your appraiser to examine your jewelry when you have the appraisal updated.)

Again, your appraisal document is written for a specific intended use, it serves as a permanent record and it performs the three functions listed above.

Some of the most common reasons for having your jewelry appraised are as follows: