What's it worth?

Ever wonder how much that inherited diamond pendant is worth? Or the ruby ring grandma gave you? The amount may surprise you.

Fred Meyer Jewelers in Bountiful, located inside the Smith's Marketplace, will be hosting renowned jewelry appraiser and gemologist Gregory Sherman on Saturday, July 11, for free appraisals to the public.

Getting jewelry appraised is an important step in getting the right insurance coverage for your most valuable possessions, said Kirsten Darrow, marketing director for Fred Meyer Jewelers.

"You need to be aware of the value of an item," Darrow said.

Typically, items worth more than $500 can be insured.

"People can bring in an item and get a verbal approximation of what it is worth," Darrow said. "It runs the gamut between gold, gemstones and diamonds."

Antique items, such as pocket watches, are also brought in for appraisal, Darrow said.

Sherman, the appraiser, has been in the jewelry industry for 23 years and has taught gemology to other professionals.

His credentials allowed him to appraise a 108-carat diamond, valued at more than $25 million.

Sherman does not work for Fred Meyer, although he does work for an appraisal company to which Fred Meyer outsources its appraisal work.

Although Sherman has an extensive background in jewelry, the appraisals are only verbal. For fine-jewelry claims, the proper documentation is required for insurance reasons.

"An official appraisal is more of a thorough process that requires additional documentation," Darrow said.

Official appraisals at Fred Meyer Jewelers start at $75.

If you go...

What: Jewelry appraisal

Where: Fred Meyer Jewelers (inside Smith's Marketplace), 555 S. 200 West, Bountiful

When: July 11, 10 a.m.-7 p.m.

How much: Free, limit one item per person

Phone: 801-397-7815

e-mail: jnicholls@desnews.com