What to know about appraising jewelry during your divorce

On Behalf of | Mar 19, 2022 | Property Division

When divorce happens, assets become split equally between partners. Jewelry is part of this equation. The values courts work with play a huge role when dividing possessions.

Appraisals are wise for any divorcing couple. Having an appropriate valuation ahead of time can bypass significant headaches. Know how to choose the right jeweler for conducting an assessment.

Check credentials

The individual you hire must have a degree from a renowned gemological institute. Check out the website of the professional you are considering and scan the bio. If one is not available, inquire about degrees. Search online to find out whether these designations relate directly to precious stones.

Check skills

You never want to hire someone new to jewelry appraising. Experience may show a breadth of understanding, but this is not always the case. Directly ask why this person can deliver a quality appraisal.

Check state laws

Different jurisdictions have unique rules and statutes regulating jewelry appraisals. Make sure the person you hire is familiar with the ones that apply to your locale. Do a cursory online search for local laws, and see if this individual is familiar with what you learn.

Check grading reports

Gem quality factors heavily into the value of your baubles. The Gemological Institute of America sets standards for what makes a desirable stone. Collect these reports that came with your purchases. If you no longer have them, a competent appraiser can request fresh ones on your behalf.

Find out how much your treasures are worth before heading to divorce court. These dollar amounts can have an enormous impact on the distribution of property.