Appraisal or estimate — what is the difference, and what do you need

A certified appraiser is affiliated with a professional association (in the Netherlands, usually the Federatie TMV) and has passed an examination for it. He or she is authorised to draw up reports that are accepted by insurers, banks, notaries, and the tax authorities. In practice, the jewel is placed on the appraiser's table, examined under a loupe and microscope, measured for precious metal with XRF if necessary, and a written report follows.

An appraisal report contains photos, material and fineness descriptions, gemstone specifications (colour, clarity, carat weight, cut), maker or period if known, condition, and one or two value concepts — usually 'replacement value' (for insurance) and 'private sale value' (for distribution or sale). The report is stamped and numbered. Insurers generally apply a maximum validity period for the report; how that period works in detail can be found in the appraisal guide.

The appraiser is not a purchaser. This distinction is important: someone who both appraises and purchases has an interest in a lower value. Always ask whether the appraisal and any potential purchase are conducted by different people (or parties).

The price of an appraisal varies within a range that depends on complexity: straightforward work per item, complex work (many stones, unusual construction, provenance research) on an hourly basis or with a surcharge. For larger collections, tiered or daily rates apply. Specific rates can be found with the appraiser themselves; the calculation logic is explained in the appraisal guide.

An appraisal is particularly worthwhile when there is a concrete reason: an insurance policy that requires a report, an inheritance that needs to be divided, a sale that needs to be legally sound, or a suspicion of extraordinary value (rarity, signed work, unusual stone) that you want confirmed.

Without a specific reason, a full report is almost always superfluous. You'll get a precise amount, but no one will ask for it. For 'I just want to know what it's worth', an estimate or a consultative talk at a jeweller's is almost always sufficient.

An estimate is a remote assessment, usually based on photos and a brief description. It states: based on what we see, we expect a market value in the order of, for example, 300 to 500 euros, and it's worth having this piece physically inspected. Or it states: intrinsically, there's 40 euros worth of silver here, there's no reason to get an expensive appraisal.

What an estimate is not: a guarantee, an offer to purchase, an insurance document. We offer a free estimate on this site via /waarde-indicatie, but you'll get the same from almost any vintage-specialised jeweller. What differs is the turnaround time and whether you have to visit in person.

The estimate also acts as a filter: it determines which piece you *really* have appraised and which piece you simply include in a division or sale without further paperwork. For those who know that an appraisal is needed, the next step is to have jewellery appraised by a certified appraiser — the appraisal guide describes how to approach this.

A second opinion is neither an appraisal nor an estimate, but a brief consultation about a purchase, an offer, or a repair. 'Is this a realistic price for this ring?' Or: 'Does this contain a modern brilliant or an old European cut?' Some jewellers charge a fifteen-minute consultation fee for this, others do it free of charge if you are considering buying or selling through them.

The second opinion is particularly useful for anyone who has received an offer they cannot evaluate. Obtaining two independent opinions costs little and prevents the most common sales mistake: accepting the first offer because you have no comparative material.

For 'what's in the drawer?' — estimate. For 'I'm going to insure this piece' — certified appraisal (then choose the replacement value option). For 'we're dividing the inheritance among four children' — certified appraisal (informative value in economic transactions; for declaration questions to a notary or tax advisor). For 'I'm considering buying this' — second opinion. For 'I want to sell to a purchasing agent' — estimate first, then negotiate (the full step-by-step plan for selling describes that order).

For 'it's at least thirty years old and it feels good' — that's precisely why vintage appraisal is a specialised craft; have it done by someone who only looks at vintage. Those who first want to see the broader context — how valuation works per category — can consult the overarching value guide before engaging an appraiser.

This article is the choice guide: it answers the question of which document you need. Everything about how an appraisal proceeds in practice — the three types of values (insurance, sale, inheritance), the range of costs, who is authorised to appraise, what should be in a report, and how to prepare for the appointment — is covered in the detailed article having jewellery appraised. Those who know after reading this article that a certified report is needed should read on there.