[Jewelry making - Article 00015] - Re: [Orchid] How Appraisals Work

[Richard W. Wise]

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James,

    A few years ago I took some advise Eli Rosen gave with regard to
    appraisals and would appreciate your opinion. We have two types of
    document. "Appraisals" and "Statements of Retail Replacement Cost"
    We use the former for items that we have not sold that we are asked
    to value. The second is used for items that we either made or sold
    and reflects the actual price paid except in extraordinary
    circunstances when we actually discount (we rarely do) and also
    states our interest, i.e. that we sold the item. The two are
    identical except for that we weigh, measure, use gia and agl
    terminology and so forth. 

    On the subject of Insurance companies: my belief is that the
    insurance industry could wipe out sleezy apparaisal practices in a
    heartbeat simply by issuing uniform guidelines regarding who can do
    an appraisal and what that form should contain. They don't do it 
    because they make a fortune on overinsured items.

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