Appraisal for $25?

[slgbug1]

Hi,

I called a jeweler in my area that advertises diamond appraisals. When I asked how much it would cost, the jeweler said $25. I''ve seen on PS that the price can be $100 & up easily. Does this sound wrong? It''s already appraised for insurance purposes, but this is to accompany a sell.

Should I pick a new place?

 

[Todd07]

I found my appraiser using the link on PS https://www.pricescope.com/appr_list.asp




I'm seeing him next week with my diamond. Thought his price was 60$ and he would update the apprasial after I change the setting for an additional 30$. Very reasonable to me.




The above link says the best approach is to work with one that doesn't sell diamonds. My guess is a jeweler is using the appraisal to get you in the door hoping to make a sale or build a relationship for a future sale. I don't think a jeweler could be considered truely independent.

 

[jesrush]

You need to specify the *type* of appraisal you want. He probably assumed you want a *verification appraisal* which takes 15-30minutes and just involves making sure the stone you present matches the certificate that came with it.

Sounds like you're seeking a fuller treatment. Tell the appraiser that.

Also, make sure you're using someone accredited... check the list on the pricescope homepage for people like Dave Atlas and Richard Sherwood.

-J

 

[denverappraiser]

Good Morning Slgbug1,

Many different services are offered under the moniker 'appraisal' and it leads to some confusion for customers and appraisers alike. What most people expect of a professional appraisal is an independent report describing the important characteristics of your item and how it relates to a particular marketplace based on unbiased research. Doing this properly can get pretty complicated and it requires a fair amount of skills, equipment and time. Most professional appraisers find that $25 is not sufficient to both do a high quality job and make a living in the process. Personally, I don't want to compromise on either of these areas. I charge more than that. There are stores that will give you a document that they call an appraisal for free and they're worth every penny of it.

Here is some information about what should be in an appraisal and perhaps some insight into why they are so expensive.

Here is a list of appraisers that may be helpful.

Neil Beaty, GG ISA
Independent Appraisals in Denver

 

[yowahking]

This is a hot button in this state, as I try to change some old mules who don't want to move. You have to have a state license to cut hair, paint finger nails, install ceiling fans, and appraise houses. You can wake up one day, print up business cards and appraise personal property which includes jewelry. Most jewelers assume that they know enough to appraise. They rarely do. Mostly because they are so geared to their own markups, that they do not know the whole market. They usually lack the knowledge to understand all the latest treatments. They usually write too little information on the appraisal so that your insurance company can wiggle out of replacing it properly. They often over appraise it so you feel good about what you paid but overpay on your premiums. Most people don't know that you rarely get what it is appraised for, you usually get it replaced or the cost of what the insurance company paid can replace it for. No need to overappraise. If you do find an appraiser, these days, a GG is not nearly enough initials after their name to be a good appraiser. As far as price goes, the 3 best appraisers in AZ charge $55, $60, and $65 to do one piece. None of them buy or sell jewelry. All of them have multiple degrees, like independent CGA, ISA, there are many good ones. You can also ask when is the last time that they updated their knowledge. Refresher courses, color accuity tests, conventions, etc. Some were a good appraiser in 1984 but the world has changed. Good luck but I would say that Mr. $25 is not who you want.