[Jewelry making - Article 00065] - Re: [Orchid] Appraisals

[Dreamgate9]

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Dale,

    Will Estavillo raised some important points: an appraisal is a legal
    document, so are you willing to back it up in court? Also,
    appraisals are required for different reasons: for insurance, for
    tax purposes, or for someone wanting to sell a piece of jewelry.
    These are not all exactly the same. 

    In my store, I am often asked to supply an appraisal for a piece
    that I made, for insurance purposes. I need to state, in detail,
    exactly what the piece is, and its replacement value in my store.
    The last three words are important. It says that I am willing to
    replace this item for the amount stated. This is not some inflated
    value that makes the customer think that they got a great deal. It
    is not what the piece would be sold for at another store. It is
    replacement value for my work in my store. 

    I am also asked to write appraisals for items made by other
    designers. If I know the designer, I can simply contact them to
    determine the replacement value. If it is a catalog item, and I know
    where I can get a replacement, it is easy to determine the value. If
    it is a piece that I can create (without violating someone's
    copyright), using my tools, materials, and experience, I can give a
    value that I would be willing to receive to replace this item. If
    there are stones that I can identify, and I can determine their
    replacement value, I feel comfortable writing an appraisal. 

    If someone bring in items that I am not familiar with, or antique
    pieces that I do not know the true value of, or items containing
    gemstones that I am not 100% sure that I can identify or replace, I
    DON'T DO THE APPRAISAL. I send it to a qualified appraiser. This is
    a legal document, not just a wild guess. Stick to what you know, and
    leave the rest to someone you trust who can stand behind their
    statement. 

    I have seen a lot of poor appraisals written, and you may get away
    with it for a long time. Remember, it only takes one poor appraisal
    that goes to court to ruin you. It is not worth the risk. The
    courts, and the insurance companies, seem to really like to go after
    jewelers...they think we're all crooks. They are the ones you're
    really writing the appraisal for, not the friendly person who is
    standing across the counter. 

    Doug Zaruba  

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