How do you set the fair price of a valuable diamond ring, necklace, or gemstone? Jewelry appraisers follow strict ethical codes and clear evaluation procedures.
Jewelry evaluation has always been a critical issue. Jewelry sellers and jewelry buyers need to know the value of what they own and what they will own.
Jewelry appraisals are the best way to get impartial value analysis for the finest jewelry pieces and gemstones.
However, we should have in mind that evaluating diamonds and gemstones are two completely different universes.
There is no universally accepted grading system for gems, so it is recommended that you find and get independent lab certification.
The “Four C’s” is the most important process of evaluating diamonds by their original characteristics.
A jewelry appraisal establishes a bridge of consensus between the owner and the potential buyer of an expensive jewel.
In a negotiation process, if both parties don’t find a fair kick-off price, it might be difficult to close a deal.
Jewelry appraisals are not a waste of money, and they can be paid by both parties – the seller and the buyer.
In the jewelry world, checking market value is mandatory. Jewelry professionals recommend that high-end jewelry pieces should be appraised every two years.
There are many public and private institutions and associations working exclusively with jewelry appraisals.
Licensed Appraisers Only
But how do you choose professional jewelry appraisers?
First of all, opt only for licensed appraisers. Make sure you’re dealing with an experienced evaluator.
They should have, at least, five years of studies and practice in the jewelry industry. Finally, do not forget to define the price criteria before the jewelry evaluation takes place.
Graduate jewelers, for example, have completed all courses and passed all of the prescribed examinations of the Gemological Institute of America’s (GIA) manufacturing arts program.
But their job is different than that of graduate gemologists, certified horologists, and jewelry wholesalers.
Jewelry appraisals should only charge you the time spent studying the jewelry piece. Remember this: you’re not supposed to pay a percentage of the jewelry piece value. Never.
In the end, this is what you should get – a complete detailed report, the grading system on which the report was based, the equipment used to analyze the gems, and a profile of the appraiser.
It is also important to have in mind that the prices of gold, silver, and other precious metals are always changing, so an up-to-date evaluation of jewels will always benefit both parties.
Finally: a jewelry appraisal should not take more than 24 hours. Don’t let anyone keep a treasure away from you for more than a day.
The International Society of Appraisers (ISA) and the American Society of Appraisers (ASA) frequently publish relevant documentation about jewelry appraisals. In this particular field of jewelry, knowledge is power and money, too.