[Jewelry making - Article 00621] - Re: [Orchid] Inflated appraisals

[Stanley Bright]

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    I agree with you folks 100% HOWEVER there has been a trend in the
    last 5-6 years (I'd say) for jewelery appraisers to keep lowering
    the appraisal values lower and lower. I want to give my client a
    "real" appraisal but when the appraised value is sanctioned by NAJA
    down to 1.5 keys I don't see where that leaves any kind of margin for
    the retail jeweler. There has to be a happy medium. I'd even settle
    for key espacially when they have to guesstimate on the color,
    clarity, and the carat weight because the diamond is set. No room for
    error. An example would be a G color SI2 1.02 carat. It is very
    feasable for it to come in as an approximately H-I color, approx. I1,
    and approximately.99 carat. Considering that appraisers want to be on
    the "safe" side for fear of being sued or spanked by NAJA, this
    example is not that far out of the question. The above example would
    probably generate a $1500-2000 difference in the value of a stone.
    Considering that the "NAJA number " would be $5800 on the G/SI2, and
    the mistaken safe number is $4000 (although most of this is rough but
    with $400 probably). So here's my problem with this pricing
    methodology: If the 1.02 G/SI2 diamond cost lets say $3600, $150-200
    to get it certed, plus 6-8 weeks of your time and money invested, a
    14kt tiffany setting $100-$125, 1.64% to the VISA machine, not to
    mention 2-3 hours of your time buying, selling, setting, etc. Where
    does this leave the retailer? We all know that the diamond trade is
    screwed up. NAJA and their appraisers don't have to make it worse.
    These are milestones that people buy to mark special times in their
    lives we don't need to fill their heads with worry and doubt. 

Stanley Bright
A&M Jewelers
Baltimore, MD
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