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General inquiries about appraisals


#1

It’s me, again, the newcomer with all the questions. :slight_smile:

First of all, thank you all so much for your replies. What a lovely
and smart group of folks!! It’s so enjoyable reading on all the
subjects.

So.about my questions on appraisals. I have a number of valuable
items, which have never been officially appraised. Also some items
I’ve picked up at estate sales. My collection is admittedly nearly
ridiculous in size and scope. I at least need to insure! :slight_smile:

I’ve spent the last 20 years looking for a reputable trustworthy
knowledgeable jeweler/appraiser, with no luck. For a short time I
knew one, but sadly, he became very ill after a stroke. There was
another who moved away, etc., etc., etc. I’m not asking for a pitch
or offer, but I was wondering if anyone has any general resources
(like the Bar Association if you needed an attorney) for people who
appraise. One of my bigger concerns is a stone I’ve had for 3 years,
that several jewelers have told me they don’t feel comfortable
appraising, due to it’s rarity and apparently high value. I’ve heard
of places that will do stone mapping to ensure you get the same
stone back that you left off, but I know nothing about how to go
about this, or in particular, resources that can be trusted. Again,
due to the sentimental value - ( my engagement ring), I’m scared to
make a move.and would not consider mailing it anywhere, although that
has been suggested.

So how do you folks handle such things?

Thanks again,
-Mary Beth


#2

First of all make sure that the apprasier is a G.G. A competent G. G.
person can tell you what you have. Where you run into trouble is if
you insist on the appraiser, telling you what’s it worth. It’s
essentially an auction market meaning it’s worth whatever someone
will pay for it. Diamonds are exceptions. There are enough diamonds
sold so that one can put a fairly accurate price on a diamond if a
competent person has graded it.


#3
It's essentially an auction market meaning it's worth whatever
someone will pay for it. 

I have to take issue with this statement. A competent appraiser
will identify and define the market for which the price is valid.
It could be Fair Market Value, could be auction value, could be
insurance replacement - new, insurance replacement - used… A
value on an item without stating in what market that value exists is
useless.

You’ll notice they usually say this on the Antiques Road Show –
they say, in my shop this would sell for, or at a well attended
regional auction this would go for… They identify the market.

Elaine Luther
Chicago area, Illinois, USA
Certified PMC Instructor
@E_Luther


#4

You may wish to consider CHUBB for an insurer, if you call them,
they’ll refer you to an appraiser, I imagine. Yes, you can get
referrals from the International Soceity of Appraisers and the
American Society of Appraisers.

Elaine Luther
Chicago area, Illinois, USA
Certified PMC Instructor
@E_Luther