You may think that if you get your jewelry appraised immediately after purchase you are set for life. However appraisals are only valid for a limited period of time. The reasons jewelry needs to be appraised every few years include:
• Jewelry markets can be volatile and prices for certain stones change from year to year. You will want to have up to date information.
• As the inflation rate changes the values of your jewelry may change. Again up to date information is necessary especially for insurance purposes.
• Any damage to your jewelry may impact the value. If you are passing jewelry on to beneficiaries and want to divide equitably you will want to verify the condition has not changed.
The Insurance Institute of America recommends that you have your jewelry appraisal updated every 2 years. If you are insuring your jewelry you will want to check your specific insurance policy to find out how often they require appraisals. It is unlikely they will provide you an appraisal reminder so you will need to keep track yourself.