An article worth testing is an article worth documenting, and the documents do different jobs. The invoice proves purchase; the report proves identity; photographs prove condition; an appraisal states value. Kept together they make an article insurable, sellable and inheritable. Kept nowhere, they leave the owner with an object and a memory.
The four documents
Invoice or receipt. From whom, when, for how much, described as what. The seller's written description on the invoice is the basis of any claim that the article is not as described. Keep the original and a photograph.
Laboratory report. Identity: species, natural or synthetic, mukhi and compartments, treatment, weight, dimensions, photograph, report number and PIN. This is the document that a buyer, an insurer or an heir can verify independently. Anatomy of a test report.
Photographs. Of the article from several angles, against a scale, in good light, dated; of the card; of the invoice. Photographs record condition — a chip that was not there, a crack that was — and settle disputes about what was delivered.
Appraisal. A statement of value, for a stated purpose (usually insurance replacement), on a stated date, by a qualified appraiser, based on the laboratory report. This is the document an insurer needs; the laboratory does not issue it. Why a report does not include a valuation.
Insuring
What insurers ask for. A description of the item, proof of ownership (the invoice), an appraisal or valuation for replacement value, and — increasingly — a laboratory report establishing what the item is, since replacement value depends on it. Photographs support the claim.
Specified-item cover. Ordinary household contents policies cap individual items at modest sums. Valuable gems and jewellery need to be listed individually ("specified" or "scheduled") with their appraised value. Ask the insurer what documentation they require for each item; a laboratory report plus an appraisal is the usual answer.
Keeping the valuation current. Appraisals date. Insurers may require an update every few years; markets move, and an under-valued item is under-insured.
Rudraksha and religious articles. Insurable like any other item on the same documentation. The laboratory report identifies the bead; an appraisal values it. Sentimental and religious value is not insurable, which is another reason to keep the article safe.
Storing the documents
Physical. The report card with the article, or in a safe place apart from it (so that a theft of the article does not also take the proof). The invoice and appraisal in a file.
Digital. Scans or photographs of all four documents, backed up in more than one place. The report number and PIN noted somewhere secure — the PIN is not recoverable from the laboratory's website.
The register. The laboratory's own record of the report is a backup the owner does not have to maintain. With the report number and proof of ownership, the laboratory can confirm the record if the card is lost.
For resale and inheritance
An article with an invoice, a report and photographs sells more easily and for more than one without, because the buyer's doubt is removed. An heir who receives the documents receives an asset; one who receives only the object receives a question. Update the report if the article has been re-cut, re-set or repaired, so that the description matches.
Frequently asked questions
Is a laboratory report enough to insure an item?
It establishes what the item is. Insurers usually also want a valuation, which the laboratory does not provide. Obtain both.
How much does an appraisal cost?
Appraisers charge a fee for their time or a flat fee per item, not a percentage of value. Avoid any appraiser whose fee depends on the value they assign.
What if I lose the report card?
Contact the laboratory with proof of purchase and photographs of the article. The register holds the record and the laboratory can confirm it.
Do I need to document inexpensive items?
Photographs and the invoice cost nothing. A report is proportionate to value. Document anything you would be sorry to lose.
Should the documents travel with the article?
A copy of the report can; the originals are safer at home. Travelling with gemstones and Rudraksha.