appraisal in New York City?

[in_need_of_help]

Can anyone please recommend an appraisal place in New York City that they had first hand experience with? What can I expect to pay?

Thanks.

In_need_of_help

 

[Mara]

David Wolf; MGA ASA, GG: Just Appraisers, NY NY: www.justappraisers.com; [email protected]; ph: 212-812-7945

With over twenty years experience in wholesale and retail sales, David Wolf is consulted by litigation attorneys, insurance underwriters, claims adjusters, and estate administrators. A published expert on Reproduction versus Antique Diamonds, Gemstones and Jewelry, Mr. Wolf currently serves as President of the New York City Chapter of the American Society of Appraisers.

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I pulled the above from the 'Appraisers' link above....there were some other NY listings (Albany, Garden City, Long Island) as well.

Sometimes their websites give you a good idea of what you can expect to pay, but our appraiser charged us $125 per hour. One stone you can estimate will take about an hour, depends on what they do.

I think you definitely should have it checked out. It may cost a few hundred more but you aren't dropping 2 cents here...you're dropping eight thousand dollars. Make sure its on the right stone.

Good luck!

 

[diamondsbylauren]

I can heartily reccomend Macy's on 34th street.


The appraisal cost is 1% of appraised value. They have trained gemologists on staff, but I believe you must make an appointment.




A client used the service and I went along with him. At the time he'd not yet purchased the diamond - he suggested Macy's as an appraiser- this was a diamond with a GIA report and they examined and verified the diamond.


It was done in a thourough and professional manner.




Hope this helps

 

[ringbling17]

Yes,
I have to agree with DBL, I have had two rings appraised at Macy's on 34TH street and I was really impressed with them.

In fact, I was thinking of bringing my stone in to have it checked out once it's set.
Of course, I would prefer to have it seen by the original appraisers, but I am not going to send my ring back to AGA in Philadelphia.
I thought the appraiser there was extremely thorough, he showed me exactly what he was doing, showed me all the inclusions, showed me how he determined the color, etc.
I don't think you need an appointment, I never made one.
The only thing bad I have to say is that because it's a retail store, he will give you a retail appraisal price and for me, it was way off what I actually paid.
I think I paid half of the appraisal price he gave.
One thing that I thought was nice, was that he let me decide if I wanted to actually get a written appraisal and pay the fee, or if I just wanted him to check the stone and make sure I got what I was paying for.
I think the second time I went there, I actually just asked him to verify the stone, and I was never charged.
I am hoping when I take my ring to him again, he can just verify that it's my diamond and check for damage, and not charge me!!!!

 

[in_need_of_help]

Thanks for the info.

Does Macy's measure the crown and pavilion angles and depth %? This is the info I really need right now.

In_need_of_help

 

[flyingharp]

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On 10/30/2003 10:17:28 PM in_need_of_help wrote:

Thanks for the info.

Does Macy's measure the crown and pavilion angles and depth %? This is the info I really need right now.

In_need_of_help----------------

Hmmm... it's easy to fall into the trap of buying a set of numbers vs. buying an actual, sparkly diamond. Sure, sometimes the right numbers equate to "sparkliness", but from what I gather has been written on the topic on other posts, not always...

 

[diamondsbylauren]

I doubt that Macy's would measure crown angles.


As far as the appraised value- it is general practice to appraise things at 10-50% more than the item actually sells for.


I guess the reason is it makes the buyer feel better- and also the beancounters at Macy's who get 1% of the appraised values.


But as Kayla has said, the people there at the 34th Street store are very good to work with. It's really nice to hear the way they treated you!

 

[Richard Sherwood]

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The appraisal cost is 1% of appraised value.
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I'm surprised to hear this. This used to be a common method of charging in the old days, but received a real bad rap because of the incentive to appraise at higher values and receive a higher fee.

Most appraisal organizations very strongly recommend that the fee not be attached to the appraised value.

 

[Richard Sherwood]

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As far as the appraised value- it is general practice to appraise things at 10-50% more than the
item actually sells for. I guess the reason is it makes the buyer feel better...
-----------

Appraisals are usually done at an average retail replacement value for the geographical area in which the appraisal was performed.

If an item was purchased for less than average retail, then the appraisal will be consequently higher. If purchased for more than average retail, then the appraisal would be consequently lower.

At least that's how it's supposed to work...

 

[derekinla]

I agree with Rich. How can someone be totally objective when their salary is tied to the final appraisal value? It should be a flat fee based on an hourly rate or say the size / complexity of the item in question.

 

[gemologic]

There is no formal liscensing for personal property appraisers because there has never been a real problem like the Savings & Loans Crisis, where banks were lending money based on Real Estate Appraisals which were pure fantasy.

Nowadays, Real Estate Appraisers have to be qualified and prepare appraisals according to USPAP Standards (Uniform Standards of Professional Practice)which is authorized by congress as the source of standards for appraiser qualification and appraisal standards.

USPAP addresses many things including specifically forbidding appraisal fees based on a %. I cannot believe that a company such a Macy's would still be charging a %, and I think it should be verified as fact.

If a client wants the maximum protection when getting an appraisal, they should make sure that it specifically states that the appraiser has been USPAP certified or re-certified withiun the past five years and that the appraisal has been prepared to USPAP standards.

Most Appraisal organisations such as the AAA and the ASA encourage their members to be USPAP certified for superior qualification purposes.