While the information provided on your older appraisal does not age, the overall value of the piece does. In the past 10 years, the prices of gold and diamonds have increased dramatically. This means that the piece you purchased 25 years ago would cost significantly more to replace at current prices. For example, the price of pure gold per ounce in January 2009 was around $750. Today, that same ounce of pure gold would cost around $1300. It is important to have the appraisal values updated on pieces that you have insured every 5-10 years to keep with current values.
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