Diamond & Jewelry News, Advice and Prices for Consumers
Diamond & Jewelry News, Advice and Prices for Consumers
May 23, 2010
I have a small collection of vintage jewelry that I inherited from various relatives. I have no idea how much it's worth. It's safeguarded in a safe in our bedroom, so I can't really imagine anyone would steal it, but i guess you can never be too sure...
May 24, 2010
Many people don't bother insuring their antique jewelry or their heir loomed jewelry since they figure it can't be worth much. That is a huge misconception since vintage jewelry can at times be even more valuable than newly produced pieces. For example, Edwardian antique jewelry is considered especially rare, and highly sought after by collectors worldwide, due to its sensational design and its rarity. Also, vintage jewelry doesn't have to be set with precious gemstone, in order for it to be considered valuable. Its unique, and often unusual, designs set it apart from modern pieces.
When insuring your vintage jewelry:
1. Take detailed photos and accounts of all of your items before having them appraised, and keep them in a safe place, just in case your precious items get lost while at the jewelers.
2. Have each and every piece appraised. Don't discount the vintage pieces which to you look cheap, they may be extremely rare antique items, and may end up being the items with ht highest values. You can have vintage jewelry appraised by specialist, by a local jeweler or by online experts.
3. After having your jewelry appraised, check your existing insurance policy and see whether it allows for you to add jewelry to your insurance coverage. If your policy does not cover jewelry theft, loss or damages, you may have to switch to a different policy or to a different insurance company.
4. If you are planning on adding jewelry coverage to your insurance policy, first get an adjusted estimate from your current insurance agent. He may be able to give you a fair deal on added coverage. If you're not pleased with the offer you get, check out online jewelry insurance policies, there are some good deals on those websites. Don't forget to ask about possible deductibles and discounts.
5. After you've insured your jewelry, try and keep it in secure storage, such as a safe, so as to minimize the risk of your items being stolen. Also, do not forget to have new jewelry reassessed and added to your coverage.
