If you’ve ever purchased fine jewelry or inherited a family heirloom, you’ve likely encountered terms like letter of value, appraisal, and authentication. While these documents are often associated with assessing or insuring jewelry, they each serve a different purpose. At Martin Busch Jewelers, we want to help you understand the differences so you can make informed decisions about how best to document and protect your pieces.
What Is a Letter of Value?
A letter of value is a simple written statement from a jeweler that provides an estimated retail value of a jewelry item. In many cases, your purchase receipt or a letter of value is sufficient for obtaining jewelry insurance, particularly for newly purchased items. Insurance companies often accept this documentation when issuing coverage for engagement rings, diamond jewelry, or gold pieces.
However, it’s important to know that some insurers may request more detailed information—such as a formal appraisal—especially for high-value or vintage items. While a letter of value gives a general market estimate, it typically does not include technical gemological details or photos.
Please note: At Martin Busch Jewelers, we do not offer letters of value, appraisals, or authentication services. However, we’re happy to recommend trusted professionals we've worked with in the past who specialize in these evaluations.
What Is a Jewelry Appraisal?
A jewelry appraisal is a detailed report created by a certified appraiser that assigns a precise monetary value to your jewelry. Appraisals include specifics like gemstone size, quality, metal type, craftsmanship, and condition—along with current market replacement value. Most commonly, appraisals are used for:
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Insurance coverage
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Estate planning or division
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Resale or trade-in evaluations
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Legal documentation during divorce or inheritance
While insurance companies usually accept a purchase receipt or letter of value, they may require a professional appraisal for older pieces or high-value items, especially if the original documentation is missing.
Appraisals are performed by credentialed gemologists or appraisers, not standard retail jewelers. If you're seeking a jewelry appraisal in NYC, we can connect you with reputable specialists we've partnered with over the years.
What Is an Authentication?
Authentication focuses on verifying whether a jewelry item is genuine, particularly for luxury designer pieces (like Cartier, Rolex, or Tiffany & Co.) or rare gemstones. This process confirms brand authenticity, natural origin of stones, serial numbers, and craftsmanship details.
If you’re buying pre-owned fine jewelry or reselling a high-end piece, a proper authentication can help establish credibility and maximize value. Authentication is also valuable for inherited jewelry or vintage items with unclear origins.
While an appraisal may mention authenticity, a dedicated authentication provides more in-depth verification, including brand markings, serial checks, and stone identification.
At Martin Busch Jewelers, we do not perform authentications, but we're happy to refer you to trusted professionals who specialize in this service.
Which One Do You Need?
If you’ve recently purchased jewelry, your receipt or a letter of value is typically all you need for insurance purposes. For older, inherited, or especially valuable items, your insurance provider might ask for a full appraisal. And if you’re buying or selling a designer piece or luxury gemstone, consider getting a professional authentication.
Still unsure? Stop by Martin Busch Jewelers—we’re happy to help answer your questions and connect you with experts who can provide appraisals, authentications, or official documentation for your jewelry.
Your Jewelry Deserves Protection and Peace of Mind.
Visit us in downtown NYC or contact us today for recommendations on appraisal and authentication professionals you can trust.
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