David Adamson Designer Jewelry

Gold and Diamond prices have skyrocketed over the last few years.   Crime and home invasions have risen drastically too.   It is a good time to consider obtaining or updating the appraisals for your jewelry.   This is especially true if you are considering selling some of your jewelry.

When having jewelry appraised, the jewelry consumer is faced with two questions: What type of appraisal is most appropriate?  And, how do you find a qualified jewelry appraiser?   The following guide to jewelry appraisals will help you answer these questions.

There are basically three types of jewelry appraisal.   Each serves a different purpose and provides a different estimate of a jewel's value.   It is important to determine which type of appraisal will best meet your needs and make this known to the appraiser right up front.

1.   A Consumer Protection Appraisal (CPA) is for the consumer who is considering the purchase a fine jewel or precious gemstone.   The CPA report provides the consumer with an accurate description of the jewel's quality and physical characteristics, as well as its estimated retail and wholesale costs.   The CPA helps you assess whether the seller has fairly and accurately represented the quality of the jewel and whether the asking price is fair.

2.   A Replacement Cost Appraisal (RCA) provides an estimate of the cost to replace a jewel with a new jewel of comparable look and quality.   RCAs are most often used to determine the appropriate amount of insurance coverage.   It is important that the RCA provide an accurate estimate of a jewel's replacement cost.   If the replacement cost is over-stated, your jewelry will be over insured and you will pay higher premiums than necessary.   (Please note, if a jewel is lost or stolen, the insurance company often only reimburses you for the jewels estimated replacement cost based on the description of the item, not necessarily the full insured amount.)  Over-inflated appraisals may make you feel that you have gotten a great deal but are unrealistic (not to mention dishonest) and will raise the amount of your premiums unnecessarily. 

3.   A Fair-Market Value Appraisal (FMVA) is most often used for tax and estate purposes.   The FMVA provides an estimate of the likely selling price of a jewel if it is sold in its current, as-is condition in its most common local market.

Now that you have determined the type of appraisal you need, you must find a qualified jewelry appraiser.   The first step is to examine the appraisers’ credentials.   At a minimum a jewelry appraiser should be an active member of the American Society of Appraisers (ASA), the Jewelers Vigilance Committee (JVC) , the International Society of Appraisers (ISA) or a member of the National Association of Jewelry Appraisers (NAJA).

Next, ask for a tour of the appraiser's gemological laboratory.   Assessing the quality and value of precious gemstones and metals requires a full battery of scientific instruments.   The appraiser's lab should at a minimum include a binocular microscope, refractometer, spectroscope, polariscope, digital scale, and full spectrum lighting. 

Finally, review a sample of the appraisal report that the appraiser will prepare.   A complete appraisal report should include: a full and accurate description of the gemstone or jewel, estimated values with full disclosure of any limitations or qualifications, and a complete discussion of the appraiser's methodology.

A qualified appraiser will always take the time to explore with you the purpose and cost of your appraisal.   Feel free to ask questions about the appraiser's credentials, required lab work, appraisal documentation and fees.   Appraisal fees should never be based on a percentage of the value of the item being appraised, rather these should be fixed and disclosed up-front.  A qualified professional will be happy to answer your questions and help you become a better educated consumer.

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