Jewelry Insurance? First Get the Replacement Value of your Mikimoto Pearls.
Before taking out jewelry insurance...here's a quick and easy way to get the replacement value for your Mikimoto Pearls.
Since I provide lots of information about Mikimoto pearls, several people have asked about getting appraisals and replacement values for their Mikimoto jewelry.
An appraisal isn't always necessary when seeking to buy insurance. Read on to find out why.
Mikimoto Ad at Nagoya, Japan Metro Station
First of all, never remove the original clasp. By it the company knows where the jewelry originated. If the clasp remains on the jewelry the company will provide a replacement value.
If you want to replace the clasp keep it along with the original receipt. The receipt is important as clasps may be purchased various places, so just having a clasp will not prove your necklace is theirs.
When considering insurance, replacement value is the most important thing to consider.
Further Clarification on Obtaining Jewelry Insurance
To gain a clearer understanding of the above explanation, I wrote to the Mikimoto Company.
Here's the communication I had with them. I hope this is also of help to you in understanding about appraisals and replacement values.
Kari asks about jewelry insurance:
My question is: How does an owner of Mikimoto pearls go about getting the replacement value?
Mr. Watanabe said “We will be happy to advise our customers of the replacement value of any MIKIMOTO strand, and that amount is more important than the appraised value.” '
Please advise me how to go about this?
Is bringing or sending the pearls to an official Mikimoto store the only option?
Can this be done by a photograph?
Is there a charge for this?
If so, what is the charge?
Would replacement value be similar to resell value?
Thank you for your reply to these questions.
Mikimoto America responds:
Dear Ms. Anderson,
With the original receipt, where a description of the piece is provided, we can easily provide a replacement value. The replacement value is not the same as the resell value. The replacement value is the value for which a piece should be insured. In case the owner loses the piece, the jewelry insurance company can return the money to purchase a similar piece (amount of money similar to replacement value). The replacement value of a new piece is the retail price paid at the moment of the purchase. If the piece is several years old, the replacement value would be the price that that same piece would have today.
The resell value reflects the actual value of the piece. For this, an owner would need to get an official appraisal from a Mikimoto specialist. For this, the piece needs to be sent to a retailer or a Mikimoto boutique. They will then send the piece to us for our specialists will be able to establish an appraisal value, based on the condition of the actual piece. If a piece that is a few years old and that it is in perfect condition will have a resell value close to the replacement value. However, this is not always the case, as pearls normally change in appearance over time and they are very delicate natural gems that require special care. Appraisals normally cost around $50, depending on the piece. Appraisals can not be done with a photograph.
We hope this helps answer your questions. We appreciate your dedication to pearls.
Thank you very much for your reply.
Just to clarify.
Is it true then that the replacement value often exceeds the resell value? For instance, if the pearls aren't in their original condition, the resell value or appraised value would be lower than the replacement value.
Do I understand this correctly?
Can the replacement value be provided by the original Mikimoto receipt alone, or do you need to examine the pearls?
How much does it cost to receive a replacement value on Mikimoto pearls?
Mikimoto America responds:
Yes, it is true that the replacement value can exceed the resell value. The replacement value can be provided with the original receipt. We only need to have the style number of the piece.
If the customer just needs an email or a value over the phone with the replacement value, then there is no cost. If the customer needs a written document from Mikimoto, then the price will be $50.
Kari's Comments on jewelry insurance
This is very helpful information for anyone wanting to take out jewelry insurance on your Mikimoto jewelry.
Keep those receipts and getting a replacement value should be a snap.