Bridal & Engagement
Jewellers Vigilance Canada
Appraising a piece of jewellery essentially means determining its value at that point in time. Professional appraisers must first be able to identify the item correctly, and then evaluate its quality accordingly. They must also be able to convey their findings in a written report, justify their process, and abide by a professional code of ethics.
Very often, the role of a gemologist is confused with that of an appraiser, as gems have become synonymous with high value. When consulting a gemmologist, many consumers expect to find out the values of their stones. However, while gemmology and jewellery appraisal are complementary disciplines, they are two distinct specialities.
A gemologist is an expert in identifying gems, whereas an appraiser assesses their quality and then determines their value based on commercial context and market pressures.
An insurance appraisal is a comprehensive description supporting an estimate of value, to be used as the basis for establishing the cost of an insurance policy. It represents the top value for settlement in the event of a claim.
The Canadian Jewellers Association represents consumer trust and confidence among the jewellery-buying public. With ethics and social responsibility at the forefront, CJA members aim to provide their customers with the highest quality of service and information available when it comes to appraising gemstones and jewellery.
An appraisal is an unbiased opinion as to the identity, composition, qualities and values described in an appraisal document–the official report of the appraisal. The document must include a detailed description of the item, using recognized terminology and grading systems.
Canadian appraisers can efficiently regulate their work using the Jewellery Appraisal Guidelines – Minimum Acceptable Standards, published by the CJA. The Certified Appraisal Professional Program is open to anyone with an interest in gem and jewellery appraising and who agrees to uphold the AAP Code of Ethics and Standards.
When inquiring about the identification and valuation of gems and jewellery, it is important to remember the value assigned to jewellery can vary depending on the function of the appraisal or report. It is essential to communicate your specific needs and purpose with your appraiser for the most relevant result.
Jewellery may be the most valuable item you own, aside from your home or car!
When it comes to insurance coverage for your jewellery and watches, many consumers are unaware that basic homeowner’s or tenant’s insurance only provides coverage for certain types of losses and for specified amounts. For example, a homeowner’s policy may cover a jewellery theft of up to $6000 (less the deductible) with a maximum $4000 limit per item; however, a standard policy would not cover damage to a stone or the loss of a stone from a ring. To obtain the full replacement value for a high-value item (without a deductible) and to receive coverage for all jewellery losses, you require either a rider on your homeowner’s policy or better still, choose a standalone policy for your jewellery like the one offered by Jewelers Mutual Insurance Company.
Jewelers Mutual Insurance Group has been specializing in insuring jewellery and jewellers since 1913. They understand what your jewellery symbolizes and what’s at stake if your most-treasured items become lost, stolen, or damaged. Personal jewellery insurance exists to safeguard your special items and the memories they represent. A Jewelers Mutual policy is a repair or replacement policy that provides comprehensive coverage against loss, theft, accidental damage, and mysterious disappearance.
Here are a few advantages of speciality jewellery insurance from Jewelers Mutual:
Comprehensive jewellery coverage that often goes beyond ordinary homeowners insurance
Worldwide protection allows you to travel anywhere with peace of mind
Flexibility to work with your own jeweller; no hassle with networks
Certified gemologists on staff whose passion and speciality is jewellery
Personal, professional assistance with every call, question or claim
The Canadian Jewellers Association recommends that you visit Jewelers Mutual to learn more about protecting your jewellery and to get a free, no-obligation quote.
Your CJA jeweller will provide you with a receipt for the purchase price, as well as a detailed description of the jewellery purchased.
For some insurance purposes, you will want to obtain an appraisal from a member of the Certified Accredited Appraiser Program (CAAP) of the CJA.