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Don't Get Caught With Insufficient Insurance Coverage!

When was the last time you updated the insurance on your jewelry? Do you have proper insurance coverage for your jewelry and watches? Continental Diamond suggests that you have your appraisals updated every three to four years. There are a few reasons why now, more than ever, it is important that you update the appraisals on your valued pieces.

The first reason is raising metal prices. We have seen the prices of precious metals roughly triple in the last few years. This is due in large part to the slumping US dollar and increased demand in many areas of the world; Russia, India and China to name a few.  Second, the diamond market has become more volatile; in past years the market consisted primarily of the US and a few countries in Western Europe. Today the markets are quickly expanding. Similar to metals, demand for diamonds is increasing at an astounding rate in Russia, China and India as their economies begin to take off. “In past years most of the larger diamonds came to the United States. These days it is a world market and diamond buyers in the United States are competing for these highly sought after diamonds,” said Jimmy Pesis, owner and long time diamond buyer at Continental Diamond.

For your convenience, Continental Diamond offers appraisal services. Each piece of jewelry purchased at Continental Diamond comes with a Certificate of Sale. Bring in past certificates or appraisals with your jewelry every three to four years.  If an item was purchased elsewhere please drop your items off to be appraised by our outside appraiser. She is at Continental Diamond every Thursday. Your jewelry will be available for pick-up that evening. Your appraisal will then be sent to you by US mail. Continental Diamond charges $65.00 for the first item and $45.00 for each additional. If you would like to sit with our certified appraiser while she appraises your items, please call our Repair department at 952-593-5602 to set up an appointment.