After paying a significant amount for your Rolex or inheriting this valuable asset, it’s almost no brainer to get a jewelry appraisal for insurance. Rolex does hold a greater chance of increasing in value, and it’s therefore prudent to have it appraised so in case you lost it, you won’t lose the high-value of this high-end asset.
How to locate qualified Rolex appraisers?
Finding appropriate watch appraisers is not as simple as stepping into your local jewelry store. It involves a thorough search of professional insurance Rolex appraisers who has in-depth experience in Rolex valuation. You don’t want an appraiser who will undervalue your timepiece. Right?
The worth of a Rolex continually changes, and that’s why your appraiser needs to have the necessary experience to give an accurate valuation.
Rolex appraisers should belong to some watch organizations such as the International Watch and Jewelry (Guild IWJG). That gives you confidence that they have the experience you are looking for, but you also need to ask how often they attend such organizations.
Watch out for inflated value.
While you may think that undervalued jewelry appraisal for insurance is worse, another more significant concern is inflated valuation. It will result in the payment of high insurance premiums, which is not worth your jewelry. But why would an appraiser use inflated value for your Rolex? One reason for this is to justify their service charge and lack of experience in a high-end timepiece.
Factors that appraisers consider when appraising your Rolex
Condition; this not only applies to your Rolex, but any jewelry must get checked on how it is maintained.
Year; it would be wrong for an appraiser to do a valuation of your Rolex made in 2018 the same as the one made in 2010. Whether your watch is used or was new, evaluation should reflect the specific year manufactured.
Rarity; Rare models have substantial value. An appraiser will find the size of production for your timepiece in the year manufactured.
Complexity; most luxury watches like Rolex are miniature works of art. It may have like 200 tiny intricate parts, mechanical functions “complications’ known as functional jewelry. The level of complexity in your Rolex contributes to the value of our watch.
Market value;
In conclusion, as many elements determine your Rolex’s value, it’s imperative to search for experienced Rolex appraisers that are also well-versed with the factors we mentioned above.
