Appraisals are mostly used to misrepresent the value of
jewelry items to enhance the marketability of the items.
Apraisals are one of the most dishonest tools a seller can use.
Gerry,
This posting is a very negative response of what I consider a cynical
view. If you have your house insured and damage or loss occurs,
depending on how well you are covered depends on whether or not you
are “made whole”. Same with car insurance.
I notice that there is a tendancy for some people to be very
emotional about certain subjects about jewelry. There seems to be
controverial opinions, not necessarily related to facts. These
opinions seem to be based on personal prejudice.
For those of us with indepentant retail stores, we will be closer in
agreement on some of these issues as we have to deal with these
issues. The industry is the way it is, I can’t change it, I have to
work with it. It is about learning to “navigate”. I have my opinions
and my feelings, and it seems that I can present options to my
customer, and they determine how I best serve them.
There was a discussion about rhodium. I tell my customer that they
can have a slightly yellow white gold, or it can be plated, it will
wear off and have to be replated. They choose plating. I don’t need
to have a moral or ethical issue. I just need to be there for my
customers need.
With the issues of why jewelery is valued the way it is and what
these valuations mean, I educate my customers about quality and
value, and about how to insure so they can protect themselves.
“Insurance replacement value” is a very important phrase. If you have
insurance and are paying a premium based on the premise that you are
protected from loss, if you do suffer a loss, what are you going to
get from the insurance company as a replacement?
More to the point, If I sell a custom cut gemstone by an american
cutter, that fact can be used in the appraisal to help the customer
get what they had if there is a loss. They do not get a crappy
windowed native cut stone as a replacement.
Gerry, “In my opinion it should be illegal to use an appraisal to
sell an item.” I do not know how you can possibly justify this type
of statement with any use of reason.
I can use an appraisal on a gemstone or a piece of jewelry as a
sales tool. If an item is normally triple keystone, the item costs
$500 wholsale from Stuller Settings, my competition sells it for
$1500, it will appraise for $1500 and I tell my customer that it
normally retails for $1500 and tell them that I can order it today,
have it tomorrow, and they will pay $1250. What is the problem with
that? My rent is lower, my staff is smaller, and I don’t wear a suit.
Appraisals “mostly used to misrepresent” Mostly? As if you have
investigated this enough to make such a broad generalization. I doubt
it.
The normal problem independant jewelers have is not with appraisals
or anything related to them,but the mall stores that advertize
something for a high price, but now 50% off. My price is usually
lower than their discounted price.
I have working relationships with quite a few other jewelers. They
are conscientious, honest,and have integrity.We all use appraisals.
Are there people who misrepresent? I am sure there are. Not the
people I know and have worked with. I can send my customer to someone
else and my value for something will be confirmed, without any
communication on my part. Thousands of customers, hundreds of
appraisals. Not one problem. Coincidence? NOT!
Appraisals serve no purpose for you. If you had a business like I
have, you’d be doing it! It is a supportive tool.
This forum states it is an “Open Electronic Forum for Jewelry
Manufacturing Methods and Procedures” and I have at times wondered
why some people seem to have misguided vendettas to judge and
criticize an industry ( or a part of it) that by and large is an
honerable way to make a living.If someone has an issue with an
individual or an organization that is operating unethically, there is
the Jewelers Vigilence Committee. That is an organization that is
jewelers policing themselves.
This is the world I live, and operate in, it is practical and not
some theoretical abstract headtrip.
Hot in Denver, not from the fires
Richard in Denver