AGI NY Is Offering Antique Jewelry Insurance

Online, May 14, 2014 (Newswire.com) - Antique and vintage jewelry is generally hard to sell. With years of wear and tear, it can be hard to determine the accurate value of antique diamond rings, earrings, or any other form of jewelry for that matter. Many diamond and jewelry appraisers may not provide the same value for antique jewelry than they would for new jewelry.

However, AGI NY is offering insurance on antique jewelry with accurate values.

Mark Yakubov, GG at AGI NY, met with us to give his take on what antique jewelry is worth. He states, "It's not easy selling your mother or grandmother's jewelry is it? It's one of the most precious things to you and them, but in this economy, you have to do what you have to do. Antique jewelry is basically insured on three basis; the actual cash value, replacement value, and agreed value. Like let's say if you bring an antique diamond ring that was worth $10,000 when bought and its current market value is $18,000, then you will get the $18,000. The replacement value is when the insurer gives you an amount to replace the jewelry, which is less than its actual value. And the agreed value is an amount that both you and the insurer will agree upon. All three types have their pros and cons depending on the condition of the jewelry and the carat value, and we can help you choose the right one."

Accreditation Gemological Institute (AGI), a New York based service, specializes in diamond, gem, and jewelry appraisal. They incorporate the latest technology and GIA instruments to determine the most accurate value of diamonds, jewelry, watches, and gem stones. They also provide training seminars to people employed in the diamond and jewelry retail industry.

When asked how AGI NY determines the value of antique jewelry, Mark Yakubov said, "It's a complicated process for antique jewelry, but we stick by our 4 Cs principle. First, we determine the color, then the clarity, followed by the cut, and last but not the least, the carat weight. Based on these factors, we can determine the retail value of the most archaic jewelry. We employ modern technology in our processes for accurate results. We believe we should people their money's worth, and we provide assistance to clients on whether they should sell their antique jewelry or not. If you have diamond or gem jewelry that you need to get insured, we can provide you with what you want!"