An appraisal is an estimate of a gemstone's value by a third party. This appraisal is often based on the information contained in a lab report, since independent appraisers rarely have access to the kind of advanced equipment that major gemstone laboratories use to test gems.

In some cases, an appraisal is helpful in building your confidence in the buying decision. It can also be very helpful if you are considering selling an item or want to insure your jewelry.

If you decide you do need an appraisal, be aware that the jewelry appraisal industry is not regulated. The appraiser is just giving you an opinion about value that may or may not be correct. Some appraisers are very skilled and reputable but, because anyone can call themselves an appraiser, some unfortunately are not. Exercise caution with appraisers who have a commercial interest in the value they assign to the piece.

If you would like to make sure you are dealing with an appraiser who has a wide knowledge of gemstones, you should consider consulting an AGTA member appraiser. These members are involved in the gemstone market and have a closer perspective on values. They have also pledged to uphold the AGTA code of ethics to put the customer’s interest first. To find one near you, consult the AGTA Member Appraiser List.