Follow Alan Facebook
Email Alan Email
Financial
Jan 19, 2016

The Importance Of A Jewelry Appraisal

Sponsored Content provided by Alan Perry - President, Perry’s Emporium

It’s the start of a new year and time to get things in order. Do you have a plan for exercising, organizing, financing, and maybe getting rid of extra stuff? Do you? Well, do you also have a plan to make sure you have the proper insurance coverage if you have a loss this year? Do you have a plan for recovering your family’s investment in jewelry?
 
I hate to be a naysayer but, guys, I see it every year. A man enters the shop, looks at me, and says:
 
“We had a break- in and lost some jewelry, and now we need a replacement value on what was lost.”
 
My response is always, “Well, do you have a list of what was stolen and an old appraisal?”
 
“No,” he admits. “I don’t.”
 
Wow, this guy doesn’t have a chance, I think.
 
Don’t be that guy.
 
Have a plan. Start by recording by video everything in your house: everything. What if there was a fire and a total loss of your possessions? Get on record everything you have. Film the inside of all the closets and even the attic and basement (go ahead and do this even before you tackle that New Year’s resolution to “tidy up”).  When it comes to jewelry, silverware, crystal and china, put it on your dining room table and get some close-up shots.
 
It’s even better if you can record your voice describing what you are filming. It will help a lot with an appraisal and valuation.
 
Make two copies of your video. Leave one at work and the other in a safe place, such as in the trunk of the car, at your parents' house, wherever you decide. Be sure it is in a place where if you have a house fire or a break-in, that video is safe.
 
But before you rush off to record everything in your home, I want to talk a little bit more about your jewelry. Another thing you want to do is ask a graduate gemologist with some years under his or her belt to give you a written appraisal on every item over $300.
 
It’s true that the prices of gemstones, gold and silver move up and down every year, but it is really more up than down. If it’s been more than three years since your big ticket items were individually appraised, go get it done now! They are probably worth more today than they were back then.
 
Plus, if you have more than $100,000 in value, you can usually “wheel and deal” with the insurance company. It helps to understand how much you really have. Work with your agent. I recommend using Jewelers Mutual as a separate company to deal with all of your jewelry and keep it off your homeowner’s policy. This way, if you have a claim, your homeowner’s policy will not get canceled or go way up on you.
 
Got more questions? Come see me at Perry’s Emporium. I will give you the full scoop on this and answer your specific concerns. We even have a very experienced graduate gemologist on staff who can help you with your jewelry and appraisal.
 
Don’t get caught unaware like “that guy.” This year have a plan to make sure all your assets are covered.
 
Alan Perry is the president of Perry’s Emporium and The Wedding Dress Shoppe, offering a range of services for couples, from engagement through their wedding day. Perry’s Emporium is one of the largest retail jewelry stores in Southeastern North Carolina and offers exclusive brands and one-of-a-kind estate jewelry. The Wedding Dress Shoppe is a full-service bridal salon featuring distinctive and stylish bridal gowns, bridesmaid dresses, and mother-of the-bride and flower girl attire. For more information, visit www.perrysemporium.com and www.theweddingdressshoppe.com.
 

Perrys 16may blk
Ico insights

INSIGHTS

SPONSORS' CONTENT
2022052 75 142344351

Bridging Futures: The Case for Toll Funding in Wilmington’s Cape Fear Memorial Bridge Revamp

Natalie English - Wilmington Chamber of Commerce
Untitleddesign5

The Role of Vulnerability in Leadership

John Monahan - Vistage
Screenshot2022 01 06at338 162234623

Food is the Foundation for Prosperous Communities

Girard Newkirk - Genesis Block

Trending News

Conservation Group Signs $8M Deal To Buy The Point On Topsail Island

Audrey Elsberry - Mar 26, 2024

National Organization Bestows Top Award On Cape Fear Professional Women In Building

Staff Reports - Mar 26, 2024

Engineering Firm Hires Four Employees

Staff Reports - Mar 26, 2024

N.C. Ports Officials React To Baltimore Bridge Collapse

Audrey Elsberry - Mar 26, 2024

NCino's Fourth-quarter Earnings Signal Rebound From Liquidity Crisis

Audrey Elsberry - Mar 27, 2024

In The Current Issue

Berries, A Battlefield And More In Pender

The N.C. Blueberry Festival, founded in 2003, is one of several events in Pender County that have drawn more attention over the years....


MADE: Polyhose Inc.

Polyhose manufactures and fabricates hose protection, paint hose assemblies and rubber hydraulic assemblies from its Pender County facility....


Park Progress

The planning for Pender Commerce Park began in the early 2000s when the county wanted to create an economic driver on its largely rural west...

Book On Business

The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2023 Power Breakfast: Major Developments