Types of Appraisals
I can provide the following types of appraisals depending on your needs;
Insurance - Insurance appraisals are the most common type of appraisal and are used for obtaining insurance on your items. These are generally requested by insurance companies when you purchase a new item, change insurance companies or when an update is needed. Sometimes these are also done for charities or fundraisers on items donated for silent auctions. The values given for items on an insurance appraisal are considered current retail or replacement values.
Estate - Estate appraisals are used for tax purposes and are requested by lawyers for the settlement of one's estate. These are also requested by families in order to divide the jewelry appropriately. The values given for items on an estate appraisal are usually lower than a retail or replacement value. These values are fair market values.
Fair Market Value/Liquidation - Fair market value appraisals are used for liquidation purposes. The values given here represent a minimum price one should expect to receive for the sale of an item. It also represents the starting bid one can expect should the item be auctioned. This is also useful in the division process during a divorce.
Loss Evaluation/Hypothetical - Loss evaluation/Hypothetical appraisals are occasionally requested by insurance companies when an item has been lost or stolen and there is no previous appraisal or record on file. The values given for this appraisal are the same as insurance appraisals and represent current retail or replacement value.
Appraisal Process
Upon determination of the type of appraisal you need, we can schedule a time to meet. I request that you leave your jewelry with me in order to perform an accurate evaluation. It is not a "while you wait type of process", though depending on the number of items it sometimes can be a "while you lunch or run errands type of process". This can be determined individually. Once I have your items I will perform the following;
Inspect each item for possible repairs that may be necessary prior to appraising
Clean each item appropriately
Measure and estimate the weight of all gemstones while still in their settings
Weigh each piece in pennyweights (dwt)
Photograph each item from multiple angles
Determine value according to current market driven independent pricing guides as well as the NYSE metals market
Type all findings in a formal appraisal format and provide both hard copies and electronic copies according to each clients needs
This process can vary depending on the item involved and the quantity to be appraised. Therefore the time frame for each appraisal can vary. That being said, I always try to accommodate my customer in a way that fits both their schedule as well as mine.
The price for the appraisal can also vary depending on the complexity of the item being evaluated as well as the quantity of items. I am competitively priced at a start point of $85.00 per appraisal and will give you a more accurate estimate based on the quantity and complexity of items. This will be discussed prior to you leaving your items with me.
Preparing for Your Appraisal
It is always helpful to have any former documentation such as gem and diamond certifications, past appraisals, and the original purchase invoice if possible. This is primarily to be as detailed and accurate as possible. Often times the original invoice or seller's appraisal will document actual weights and measurements due to the fact that they were the original creator or purchaser of such item. I use measurements and formulas to estimate weights of diamonds and gemstones and will never remove gemstones for evaluation. Don't worry if you can't find or don't have any previous documentation, it is simply helpful if you can bring it. Any upcoming events or a timeline you have for the completion is also helpful to know so that I can work at meeting your expectations.
