[Jewelry making - Article 00155] - Re: [Orchid] How Appraisals Work

[Kevin P. Kelly]

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Hi Ed

    It seems to me the point of an appraisal is to establish what the
    piece of jewelry is:  i.e what metals were used, id of any stones
    used.  Is it in fact what it was presented to be. Although I
    understand from my experience the overwhelming question that people
    have is "what's it worth". 

    My wife is a G.G. and I've done metalsmithing and lapidary for some
    time.  We sell retail at art fairs. I get quite a few walk ups who
    want instant appraisals. I give a brief explanation of what I would
    consider a proper appraisal consists. I also let them know that if
    they want a appraisal they must pay for it. They usually just want to
    know that they haven't been "ripped-off". 

    Beyond that it seems to me that it's an auction market. A piece of
    jewelry is worth what someone will pay for it. Diamonds are
    exceptional in that so many are sold and there are well established
    standards of grading that establishing a price is comparatively easy.
    

    It seems to me that establishing the price (value)  is extremely
    difficult, especially custom or one offs. Your "maximum markup"
    comment is confusing. What's the base you're marking up? Are you
    weighing the piece and estimating the stone weight?  Does the fact
    that "the brand is very recent" have something to do with the value
    of the piece. What value do you give the design? And since you
    brought it up; how is it that this jeweler contacted you for
    appraisals? And what do you suppose his intention is? It seems
    more the common practice that the purchaser would be the one asking
    for an appraisal. Do you think that the fact that his "clientele"
    are actors, athletes, and well know muscians factor into the
    appraisal? 

    And finally, IMHO  you're supposed to be "disinterested"; you're
    can't "justify". Your ethical obligation is to tell this person your
    honest opinion, not what he'd llke to hear. One other point,  do you
    have training or expertise in this area? 

    It would be interesting to hear how others in the retail jewelry
    side handle the "need to know how much this thing is worth?" 

Kevin Kelly

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