Where we pay attention to the details


Why do you need a jewelry appraisal?

  • Obtain insurance
  • To settle inheritance, probate, or estate requirements
  • Substantiate price fairness for items you are considering to purchase or have already purchased
  • Confirm another appraiser's evaluation and valuation of an item
  • Determine value of items received as a gift or won in a contest

Teresa Joy, GG (GIA) NAJA  


Teresa Joy is a Graduate Gemologist , Gemological Institute of America and a member of the National Association of Jewelry Appraisers.

Type of Appraisals - Click an item for explanation

Insurance appraisals This type appraisal report is necessary for insuring your items against loss or damage.  The accuracy and detail of this report are critical to identify and/or duplicate exactly any of these items should they be lost or stolen.  See a sample appraisal.

Estate This type appraisal is based on fair market value and is  necessary to determine inheritance taxes on an estate.

Donation This fair market value  report is used for tax deductions of donated items.

Divorce This fair market value appraisal is used for  division of property.

Casualty Loss   This report tries to determine the fair market value  of a lost, stolen, or destroyed item that was not previously documented. The IRS allows an income tax deduction of some portion of the value with a proper casualty loss appraisal.

Damage Report This report expresses the difference in value that results from breakage and estimates the cost of the removal, re-cutting and resetting of the gemstone, as well as the value of the re-cut gemstone (loss of weight).

Post Loss This report establishes the value of a previously undocumented item that was lost or stolen. This is a hypothetical valuation based on information supplied by the client and supported by photographs and a description of the item.

Collateral Appraisal This report is used when a company wishes to offer their gems or jewelry items in lieu of cash for a business transaction.  Because lenders are not willing to wait lengthy amounts of time for item to be sold at retail fair market value, this appraisal must reflect a cash value that the item(s) so that the items can be readily converted quickly in the near future.  This amount would be fair market value below wholesale level with jewelry mountings being evaluated upon the intrinsic smelted cash value of the precious metal that is based on the prevailing market base price on the appraisal date.

Antique or Vintage Appraisal Antique jewelry (items 100 years or older) and Vintage jewelry (pieces of more recent manufacture) cannot be actually or exactly replaced in today's marketplace calculations. With the exception of gem evaluation, estimates of value for antique or vintage jewelry items are based on average costs incurred to replace said items of similar condition, motif, and degree of craftsmanship subject to the item's availability in the marketplace.

Resale Appraisal This appraisal would report the value of item(s) as they would sell in the appropriate secondary marketplace.

Liquidation Appraisal This appraisal is the owners' decision to convert his assets (gems and jewelry) to immediate cash.  A liquidation appraisal can be 1)Forced Value This type appraisal is made in the event that entities other than the owner require jewelry to be sold.  These are often creditors or those acting for creditors.  There are often time limits and other restrictions imposed.2) Broker Value Broker value describes a consignment of jewelry or gemstones held for a certain time for a retail brokerage sale at a percentage above the current wholesale cost  of similar jewelry or unmounted gemstones. The seller realizes an agreed percentage less the current wholesale value. 3) Auction Value Auction value describes the net prices (hammer prices) obtained at auction for a general indication of an average value as obtained at the most recent major jewelry auctions for like-kind merchandise.  A reserve price is the lowest price for which the auction house can sell the consigned gems or jewelry, an agreed commission.  The seller's commission paid to the auction house applies whether the sale is successful or not.

Customs Evaluation Proof for customs officials that a piece(s) of jewelry was not purchased in a foreign country from which the individual has just returned.  This report includes a photo and complete description.


What is an appraisal?

A written statement done independently and impartially by a qualified appraiser. Appraisals include the authenticity, quality, design, and value of a gem or piece of jewelry that is based and supported by training and ongoing education, the equipment in our full gem lab, and our experience in the field of appraising.  Basically, our opinion of the defined value of your gems and jewelry as of a specific date. It is supported by presentation and analysis of cost and/or market data comparison approach.

Before your appraisal:

  1. Clean your jewelry.  If it is especially dirty, this will help save you time and money.
  2. Arrange with us the needed repairs.
  3. Schedule and appointment
  4. Put together all pertinent documentation.  This would include sales receipts, warranties, diamond and gemstone certifications, old insurance summaries and old appraisals.  Basically, anything that  shows stone measurements before mounting. 
  5. Make a jewelry inventory before you come in.
  • Owner of Joy & Company a full service jewelry store/ gem lab centrally located in downtown Fayetteville, TN
  • Full gemological laboratory that is comfortable and secure
  • Large research library for grading, evaluating and identification of jewelry and gemstones
  • Complete knowledge of gem identification and metals testing
  • Five years experience as a pawnbroker/owner of Discount Jewelry & Pawn in Jacksonville, Florida and Fayetteville, Tennessee  1996-2001
  • Graduate Gemologist Diploma, Gemological Institute of America  May 2003
  • Graduate Diamonds, Gemological Institute of America  March 2002
  • Graduate Colored Stones, Gemological Institute of America  May 2003
  • Pearl Grading, Gemological Institute of America  September 2002
  • Candidate Member of National Association of Jewelry Appraisers,(NAJA) (#20353) December 2003
  • Member National Association of Jewelry Appraisers (NAJA) June 2005
  • NAJA 21st Annual Educational Conference in Tucson, Arizona February 2004
  • NAJA 24th Mid-year Education Conference in Cincinnati, Ohio  August 2005
  • NAJA 25th Annual Winter Conference in Tucson Arizona January 2006
  • Farnsworth-Munsell Color Discrimination Test Graded "Superior"  in Tucson, Arizona  February 2004

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Teresa Joy GG (GIA)  NAJA
Qualifications and Credentials


Click here to see our Sample Appraisal - requires free Adobe Acrobat reader.