WRITTEN BY

STACEY

HOW JEWELLERY 

APPRAISAL HELPS?

JEWELLERY APPRAISAL HELPS CONSUMER IDENTIFY THE CURRENT VALUE OF THEIR JEWELLERY. CHECK THE QUALITY OF PRECIOUS METAL, AUTHENTICATE THE VALUE AND PROVIDE CERTIFICATE FOR THE SAME. OUR GUEST STACEY J TROLLY BASED IN NEW YORK CARRIES A RICH EXPERIENCE OF JEWELLERY APPRAISING, A GRADUATE GEMOLOGIST FROM GEMOLOGICAL INSTITUTE OF AMERICA (GIA) HELPS US KNOW WHAT IS JEWELLERY APPRAISAL ALL ABOUT. SHE HAS WORKED FOR MANY LABORATORIES AND ALSO APPREARED AS A JEWELLERY CO-HOST EXPERT ON A JEWELLERY SHOPPING CHANNEL.

WHY APPRAISE?

KNOWING WHAT YOUR VALUABLES ARE WORTH IS ALWAYS A SMART THING TO DO.  THIS IS WHY IT’S ESSENTIAL TO KEEP YOUR APPRAISALS UP TO DATE, ESPECIALLY GIVEN THE CONTINUING RISE AND/OR FLUCTUATIONS IN THE GOLD AND GEMSTONE MARKETS.  WHETHER IT IS A GIFT, A PURCHASE OR AN HEIRLOOM IT IS KEY THAT YOUR VALUABLES BE DOCUMENTED IN THE EVENT OF A LOSS, DAMAGE, OR THEFT.
 
FIRST AND FOREMOST, INSURANCE COMPANIES PREFER THAT YOUR JEWELRY APPRAISALS BE DONE BY AN INDEPENDENT APPRAISER, AS OPPOSED TO SOMEONE EMPLOYED BY A JEWELRY STORE, OR WITH A VESTED INTEREST OR BIASED OPINION.   THE APPRAISAL DOCUMENT PROVIDES YOU WITH PROTECTION FOR PROPER REIMBURSEMENT SHOULD AN EVENT ARISE.  INSURANCE COMPANIES AND POLICIES VARY, BUT YOU WILL NEED A DETAILED REPORT DESCRIBING THE ITEM ALONG WITH ITS EXACT QUALITIES, CHARACTERISTICS AND COST OF REPLACEMENT FOR A SIMILAR ITEM.

ANATOMY OF AN APPRAISAL

STACEY HAS BEEN IN THIS INDUSTRY FOR OVER 2 DECADES AND HENCE SHE HAS WITNESSED MANY MISUNDERSTANDINGS AND DISBELIEFS AMONG CONSUMERS AND TRADERS ABOUT THE METHODS IN WHICH APPRAISAL IS DONE.
 
SHE THEREFORE HIGHLIGHTS
WHAT AN APPRAISAL SHOULD NOT BE
 
♦ AN OVER INFLATED VALUED DESIGNED TO MAKE THE CONSUMER FEEL LIKE THEY RECEIVED A BARGAIN
 
♦ A DEFLATED VALUE DESIGNED TO DESTROY ANOTHER’S SALE
 
♦ OMITTING PERTINENT DATA
 
♦ INCLUDING FALSE AND/OR MISLEADING INFORMATION TO MAKE THE ITEM SEEM BETTER THAN IT IS
 
♦ NON DISCLOSURE OF TREATMENTS AND/OR ENHANCEMENTS
 
♦ BASED ON BIASED OPINION
 
♦ AUTHORING A REPORT HAVING NEVER SEEN THE PIECE
 
♦ MAKING UP TERMS AND ADMINISTERING SUCH TERMS THAT ARE NOT RECOGNIZED BY INDUSTRY STANDARDS
 
♦ MISREPRESENTATION OF QUALITY

WHAT SHOULD
THE APPRAISAL CONTAIN?

♦ THE DATE, AS WELL AS THE DATE OF EXAMINATION IF DIFFERENT
 
♦ NAME OF APPRAISERS
 
♦ NAME AND ADDRESS OF CUSTOMER
 
♦ TYPE OF APPRAISAL AND INTENDED USE
 
♦ IDENTIFICATION AND DESCRIPTION OF THE ITEM
 
♦ VALUE / REPLACEMENT
 
♦ PHOTO (OPTIONAL)
 
♦ EXPLANATIONS AND DISCLOSURES OF SPECIAL PROCEDURES OR CIRCUMSTANCES
 
♦ LEGIBLE NAME WITH CREDENTIALS OF THE APPRAISER
 
♦ DISCLOSURES AND APPRAISERS SIGNATURE
 
REMEMBER THAT AN APPRAISAL IS TO MAINTAIN AN ACCURATE INSURANCE POSITION, AND TO PROTECT YOU SHOULD THE SITUATION ARISE.