Regular Guy
Ideal_Rock
- Joined
- Jul 6, 2004
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In previous discussions, the question has arisen, as to what an appraiser will tell you about the stone he or she has been paid to review for the client.Appraisers have commented that they will be perhaps reluctant to say: “I would not buy that stone,” understanding it was presented with the good hope it will be the winner they want…or…in some fashion, because they will feel reluctant to attach a go/no go standard to the purchase decision.
This is an idea and suggestion for implementation.But…the hope is that it could help to solve one piece of the problem for some diamond buyers who would like to use the internet, and who will even use an appraiser from afar.In doing this…because local resources are limited for diamond sellers that you’d want to go to, and for that matter, the options for using a local appraiser are limited, too (perhaps because they don’t employ the equipment you’d want them to use, like sarin and other things), what you’d like is at least one person to look at the diamond you’ve done an almost final decision on….to tell you if you should buy the darn thing, or keep looking.
Everybody’s got constraints….even “independent appraisers.”Although they are independent, I believe the evidence based pattern is that you will see them once, they’ll evaluate your diamond, and you’ll buy it….with the decision essentially having been made on the relative fundamentals once you select it to send to the appraiser.So…I’m suggesting a new model. It’s been recommended as a strategy, I believe, by Jonathan at Good Old Gold.And it involves developing a relationship with an appraiser where it can be anticipated at the outset that there’s a possible expectation that the appraiser will actually see several stones on your behalf before you make a purchase decision.Of course, maybe you’d get it right the first time.But you’d like to think that given most people’s non-expert skills at diamond buying, that for 10 instances where Joe Bloe gets their diamond reviewed by an appraiser…in as many as 5 of those times, the recommendation would be to – go fish – try again!
No one wants to be a patsy, spending thousands of dollars on a purchase decision that they think will be less than ideal.Maybe you’ve already decided to use an appraiser’s services, if only because, in the end, you want a serviceable appraisal for insurance purposes, and one that’s priced right, assisting you to make reasonable payments for years to come.
The suggestion: get your appraiser to agree to the Patsy test!
That’s: Pricescope’s Appraiser Tolerance SurveY….or the Patsy Survey.
Ordinarily, an appraiser would do three of four things you might like them to do for you 1) They’ll confirm that a diamond is a diamond, not a piece of glass, or something else it’s not supposed to be, 2) they’ll describe it’s qualities, in the many ways they do, 3) they’ll provide you an appraisal you can take to an insurer to insure it….but what the Patsy survey asks them to do is one more thing…which is to give you some go/no go advice.
This advice, perhaps in the form of a survey, could be represented this way…
For any given a) price, and b) distributor type (B&M, internet vendor, pawn shop)….the appraiser would him or herself….c) make an affirmative purchase decision…
3)Would not make that purchase decision, of that item.
Given a, b, c they would select: 1, 2, or 3, which is the no go choice.
In order to assist a) their participation in the survey, and b) the usefulness of the instrument…a few related suggestions:
A – pricing
If they agree to have the survey as part of their workup in their work as an appraiser, their charge may be slightly higher.Ideally it wouldn’t, but it might.
And since you’d want them to actually feel encouraged to tell you to…go fish…as necessary, you would build in pricing that would encourage use # 2 from them, and #3 from them as well, with each being perhaps lower than the next.Perhaps a second or third swing at the bat would be at 2/3 pricing.
So, use #1 might be $150, use #2 would be at $100, use #3 might be $66.Probably after the 3rd use, if – based on the appraiser’s advice, the buyer still hasn’t found a winner, the reduced price would be stable at that amount, or the buyer may intentionally walk to another appraiser altogether.
B) Evaluation
I'm not sure who should monitor this sort of thing, but without regard to that, you would want to know, in selecting an appraiser based on the Patsy test, what their Patsy score was.The score is based on the average number of times they provide services to a customer for a single purchase decision.Typically, the range would be between 1 and 3 uses.For the more experienced Pricescope reader, who would think to ask for the Patsy test, the sweet spot score might be 1.2 - 1.7.For a more general crowd, I'm thinking it would be more like 1.4 - 2.1Users should consider asking their appraiser what their Patsy score is!
C) Fitting the appraiser into the buying process
I’m suggesting that we help them to tell us what we want to know.
This is an idea and suggestion for implementation.But…the hope is that it could help to solve one piece of the problem for some diamond buyers who would like to use the internet, and who will even use an appraiser from afar.In doing this…because local resources are limited for diamond sellers that you’d want to go to, and for that matter, the options for using a local appraiser are limited, too (perhaps because they don’t employ the equipment you’d want them to use, like sarin and other things), what you’d like is at least one person to look at the diamond you’ve done an almost final decision on….to tell you if you should buy the darn thing, or keep looking.
Everybody’s got constraints….even “independent appraisers.”Although they are independent, I believe the evidence based pattern is that you will see them once, they’ll evaluate your diamond, and you’ll buy it….with the decision essentially having been made on the relative fundamentals once you select it to send to the appraiser.So…I’m suggesting a new model. It’s been recommended as a strategy, I believe, by Jonathan at Good Old Gold.And it involves developing a relationship with an appraiser where it can be anticipated at the outset that there’s a possible expectation that the appraiser will actually see several stones on your behalf before you make a purchase decision.Of course, maybe you’d get it right the first time.But you’d like to think that given most people’s non-expert skills at diamond buying, that for 10 instances where Joe Bloe gets their diamond reviewed by an appraiser…in as many as 5 of those times, the recommendation would be to – go fish – try again!
No one wants to be a patsy, spending thousands of dollars on a purchase decision that they think will be less than ideal.Maybe you’ve already decided to use an appraiser’s services, if only because, in the end, you want a serviceable appraisal for insurance purposes, and one that’s priced right, assisting you to make reasonable payments for years to come.
The suggestion: get your appraiser to agree to the Patsy test!
That’s: Pricescope’s Appraiser Tolerance SurveY….or the Patsy Survey.
Ordinarily, an appraiser would do three of four things you might like them to do for you 1) They’ll confirm that a diamond is a diamond, not a piece of glass, or something else it’s not supposed to be, 2) they’ll describe it’s qualities, in the many ways they do, 3) they’ll provide you an appraisal you can take to an insurer to insure it….but what the Patsy survey asks them to do is one more thing…which is to give you some go/no go advice.
This advice, perhaps in the form of a survey, could be represented this way…
For any given a) price, and b) distributor type (B&M, internet vendor, pawn shop)….the appraiser would him or herself….c) make an affirmative purchase decision…
1)As an engagement ring for one’s spouse
2)As a nice gift for one’s spouse
3)Would not make that purchase decision, of that item.
Given a, b, c they would select: 1, 2, or 3, which is the no go choice.
In order to assist a) their participation in the survey, and b) the usefulness of the instrument…a few related suggestions:
A – pricing
If they agree to have the survey as part of their workup in their work as an appraiser, their charge may be slightly higher.Ideally it wouldn’t, but it might.
And since you’d want them to actually feel encouraged to tell you to…go fish…as necessary, you would build in pricing that would encourage use # 2 from them, and #3 from them as well, with each being perhaps lower than the next.Perhaps a second or third swing at the bat would be at 2/3 pricing.
So, use #1 might be $150, use #2 would be at $100, use #3 might be $66.Probably after the 3rd use, if – based on the appraiser’s advice, the buyer still hasn’t found a winner, the reduced price would be stable at that amount, or the buyer may intentionally walk to another appraiser altogether.
B) Evaluation
I'm not sure who should monitor this sort of thing, but without regard to that, you would want to know, in selecting an appraiser based on the Patsy test, what their Patsy score was.The score is based on the average number of times they provide services to a customer for a single purchase decision.Typically, the range would be between 1 and 3 uses.For the more experienced Pricescope reader, who would think to ask for the Patsy test, the sweet spot score might be 1.2 - 1.7.For a more general crowd, I'm thinking it would be more like 1.4 - 2.1Users should consider asking their appraiser what their Patsy score is!
C) Fitting the appraiser into the buying process
The point of using the appraiser this way is to allow the buying process to happen away, largely.But, you'd like some kind of local control.This should come after the ring comes back to you, having been viewed twice by the appraiser....first unmounted, agreed as a "go" decision, then again after being mounted by the jewler, and then to you.Only after its been viewed twice by the appraiser and mounted, would you get to see it for the first time.It's suggested that it be agreed that your time to return the ring could begin then, when you get it, otherwise...you are stuck.So the jewler must be on line with this program, as well.
So, maybe it’s just a wild hair (hare)…what do you think?
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