Teresa Joy, graduate gemologist and owner of Joy & Company in Fayetteville, has announced she is shutting down the retail part of her business and relocating the appraisal and gem lab part of her business to The Storey Bookkeeping building, located at 310 College Street West, Suite B, next to Fayetteville Public Utilities.
Joy & Company was previously located at 214 Main Avenue South. The phone number is going to remain the same, 931-438-2500.
“I am still going to be a private jeweler by appointment only for those interested in purchasing a special jewelry item, diamond or colored gemstone and putting together a custom piece,” Joy said.
Other services she will continue to provide are insurance appraisals for replacement cost.
“If you’ve been following the price of gold, you may want to consider appraising your special pieces of jewelry and updating items appraised two or more years ago,” she said.
Gold prices have gone from a low of around $345 ten years ago to hovering at $1,600 per ounce.
“The price of platinum is just as high with silver at around $30 per ounce. In the past five years, silver has seen a high of $48.55 and a low of $8.79 per ounce. Diamonds, especially those over two carats, gemstones and pearls have risen dramatically, as well.
“Often jewelers give customers over-inflated appraisals to make them feel good about their purchase. However, insurance companies pay only what it costs to replace an item, not the inflated amount,” Joy said. “Your insurance premiums are based on the appraisal value so you need to make sure it is correct and you are properly covered in the event of loss or theft. At this time, many of my customers are underinsured.”
For an independent appraisal or update, contact Joy.
“If you are currently a customer and in my system, your cost is considerably less since I already have most of your pertinent information already on file. Updates are recommended every 2-3 years.”
For those interested in selling their jewelry, but don’t know where or how to sell their pieces, Joy can offer brokering services that maximizes the customers’ return. Call or send Joy an email at email@example.com.
Joy also provides expert witness testimony for civil or criminal court cases and equitable distribution of family jewels.
Those who don’t have a clue what items handed down from previous generations are worth may ask about gemstone identification.
“Most of the time gemstone identification is done verbally. Basic stone identification is performed in my well-equipped gem lab. However, some stones may need to be sent to the American Gem Trade Association or to the Gemological Institute of America for more extensive testing,” she explained.
“There are many treatments and enhancements being performed on gems to make them look good and be more marketable. Before purchasing important gemstones, it may be a good idea to get additional information.”
Regarding consultations, Joy said, “Most of my customers agree that buying or selling a diamond can be a harrowing experience. Even knowing the 4 C’s (cut, clarity, color and carat weight) does not guarantee that what you asked for is what you will get.
“Help protect yourself and make your diamond or gemstone buying experience a positive one. I am current on all types of gemstone and diamond enhancements. Arm yourself with the information that you need to make a smart purchase.”
Even a poorly cut diamond to an untrained eye will sparkle.
“How well a diamond is cut can affect the price of a stone by as much as 50 percent,” she noted. “Most retailers never mention cut.”
Joy is available to local groups, clubs and associations for public speaking.
“I am very excited about my new location and look forward to serving you with all of your private jewelry/appraisal/gem lab needs.”
Joy is a National Association of Jewelry Appraisers senior member.