Appraisals frequently ignore the condition, age and, most importantly, the marketability of the items. How Appraisers Appraise It is a jewelry industry policy to appraise nearly every item at its duplication cost. This assures the customer that the item can be replaced if ever lost or stolen. This practice, however, doesn't usually take into account that jewelry styles change and items wear from use. In other words, it tends to ignore the fact that jewelry can depreciate, and often does.
Jewelry is made of silver, gold or platinum and is usually set with precious stones.
They knew that the items had cost considerably less and thought the values exaggerated. High Appraisals from the Early 1980's Jewelry, gold, silver and diamonds were at record highs in 1980. If your appraisal is dated about that time, the values may be significantly inflated by today's standard. If the design of your item falls into the classifications of antique or period jewelry, then it could be worth more than when originally purchased. If an appraisal has imparted an unrealistic idea of value, a customer will never sell.