A jewelry appraisal is the process in which a certified professional examines and states a dollar-value for a piece of jewelry. By far, the most important reason for getting an appraisal is for insurance purposes. A credit card receipt most likely won’t provide enough information. Insurance company usually requires a value, detailed description of your jewelry, including the type of metal used and quality of the stones. You may also want to determine the value or authenticity of your jewelry for estate and tax purposes, donations and loans. Appraisals are recommended to be renewed every few years as the prices of precious metal and diamonds regularly change. If the item is lost or stolen, the insurance company will use this as proof of ownership and will look to replace the item at the value stated on the appraisal.