This is part of an appraisal
This is a GIA report not an appraisal.
A jewelry appraisal is required to be done fairly often for a good reason. Just like the dollar, it gains value. This means an appraisal done 5 years ago will only pay 25% of the current market price for the piece of jewelry.
It is a good idea to get your jewelry appraised every 2 to 3 years. However; it should not exceed 5 years because of the same reason mentioned above.
People often forget that an appraisal should also be done after jewelry alteration. If your jewelry is modernized with a custom design or there’s a gem that was swapped, then an updated jewelry appraisal is necessary.