Most clients finish their commission, slip the ring on, and forget about paperwork entirely until the day a broker asks, "And how do we know what it's worth?" That question arrives at the worst possible moment — usually right after a near-loss while traveling, or after a conversation about insuring the ring. We want to pull the paperwork conversation forward, because the documents a custom atelier hands you are not interchangeable.
The three documents you actually receive
When we finish a commission, we hand over three things, and each one does a different job.
- The invoice / work order. This proves you own the piece and what you paid. It is your transaction record. It is not a valuation.
- The gemstone certificate. For a natural or lab-grown center stone, this describes cut, color, clarity, and carat. It is issued by the gem lab, not by us, and it travels with the stone forever.
- The written appraisal / valuation. This is the document your insurer needs. It describes the piece photographically and lists a dollar figure.
Replacement value is not what you paid
Here is the part that surprises people. The number on your insurance valuation is usually higher than what you paid us, and that is correct. Replacement value answers one question: "If this ring vanished tomorrow, what would it cost to buy a like-for-like piece today?" That includes a new center stone at current market prices, the labor to recreate our exact design, markup, and a reasonable margin for the retailer who would sell it. It is not what you could resell the ring for. It is what it would cost to replace it.
This is why a valuation done the year you buy matters. Stone prices move. Labor rates move. A valuation more than three years old is usually out of date, and your insurer knows it.
Fair market value is the other number, and it is lower
If you ever sell the ring, divide it, or settle an estate, the relevant figure is fair market value — what a willing buyer and seller would agree on today. That number is typically well below replacement value, because the resale market does not pay for bespoke labor the way the original purchase did. We mention this so no one is surprised when insurance covers replacement but resale returns a fraction. Both numbers are honest; they answer different questions.
What a good appraisal actually contains
A lazy appraisal is a single number on a letterhead. A useful one describes the ring closely enough that a stranger could identify it. Ours includes:
- Photographs from multiple angles, including the inside of the shank.
- The exact metal karat and the total gold weight.
- The center stone's measurements, cut, color, and clarity, plus its certificate number.
- Side stones: how many, what size, and total weight.
- Any engraving or custom detail that makes the piece one of a kind.
That last point matters more than it sounds. A mass-produced ring can be replaced off a shelf. A bespoke ring can only be recreated from a description — which is why our file on your commission stays with us for life, should we ever need to rebuild it.
What if your atelier does not provide a valuation?
Some small workshops hand over a ring with no paperwork beyond a receipt. That is not unusual, but it leaves you exposed. You can still get a valid appraisal from an independent gemologist who is unaffiliated with the sale — in fact, an independent appraisal is often more credible to an insurer, because it is not tied to the shop that sold you the ring. Expect to pay a flat fee, typically a few hundred dollars, and to leave the piece with them for a few days. If we build your ring, the valuation is part of the commission, so you never have to make that separate trip. But if you bought elsewhere and are now insuring a bespoke piece, an independent appraiser is a perfectly valid route.
Treat the paperwork as part of the jewelry
A ring without paperwork is a beautiful object. A ring with a complete file — invoice, certificate, photographs, and a current valuation — is a protected one. When you commission bespoke, you are not just buying a design. You are building a small archive of that design, and that archive is what lets it survive loss, travel, and decades of wear. Keep it somewhere other than the ring box. We also recommend photographing the piece annually, in daylight, so you have a visual record should you ever need to describe it to an insurer.
