With all the babble about gold prices on the rise and how eventually this will trickle down to the retail jewelry buyer (as wholesale buyers have already started to feel the pinch), it didn't occur to me that for those with some really good jewelry in the vault, they may want to have it reappraised.

This article, "As gold prices rise, jewelry should be reappraised," makes a lot of sense:

With gold topping out at more than $700 an ounce last month -- a record price -- you may be wondering if your jewelry, watches and other gold valuables have gone up. They have, though how much varies.

Since prices are high, it makes sense to be sure you are properly insured for the full market value.

"A lot of people probably should have their jewelry reappraised,'' says Nancy Stacy, a master gemologist appraiser based in Walnut Creek, Calif.

When it comes to jewelry, she says, price depends on many things.

I don't think you'd need to worry too much for pieces that don't have lots of gold in them, but if you have some large gold jewelry pieces like heavy gold chains or a watch and have had them appraised in the past, it might be worth thinking about doing this again.