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Is this acceptable? Appraiser

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jcarrey4

Rough_Rock
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Dec 14, 2006
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[blank] is the Appraiser for [blank]. [blank]''s credentials include being a Graduate Jeweler Gemologist of the Gemological Institute of America, a Certified Gemologist of the American Gem Society and a Member of the National Association of Jewelry Appraisers.

Is this good enough for a proper appraisal? Should I ask for someone else?
 

denverappraiser

Ideal_Rock
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Jul 21, 2004
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8,747
Those are all fine credentials. Significantly better than most.

Well credentialed doesn't mean that they're a good appraiser of course, any more than graduating from a prestigious medical school means that someone is a good doctor, but it's a good sign.

It's worth noting that if [blank] isn't an AGS member firm, it's a misrepresentation for them to advertise an AGS credential of an appraiser working for them. This would be a bad sign.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver
 

jcarrey4

Rough_Rock
Joined
Dec 14, 2006
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31
How do I determine if that''s the case? I''m not really sure if I need to secure anonimity (sp?), I just thaought, seeing as how I was questioning this person''s credentials, I would be on the up and up, but seeing as how the credentials check out, just not necessarily with the place, here''s the link:

http://www.gemguide.com/home.htm

now, how can I tell if this is ok?

Oh...and is there a range I can expect to pay for an appriasal
 

denverappraiser

Ideal_Rock
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Appraisers charge different prices for different services and in different marketplaces and there’s no straight answer to what is the right price. In most major cities there are several people offering appraisal services and you can price shop them by phone or email.
As with most service businesses, the cheapest is rarely the best and visa versa. Where you want to land on this continuum will depend on what you are hoping to learn from your appraisal session and how you like to approach this sort of thing. Most are happy to discuss their fee structures and what exactly they will do for it before any work begins.
GIA, AGS and NAJA all have online lookup systems to help you see who is entitled to use their various credentials.
www.gia.edu
www.americangemsociety.org
www.najaappraisers.com

AGS member stores tend to advertise this fairly prominently. This is not an easy or inexpensive distinction and I don’t think I’ve ever seen one that was inclined to keep it a secret. This can be looked up on the AGS website as well.
Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver
 

RockDoc

Ideal_Rock
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Aug 15, 2000
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2,509
A basic Rule of Thumb in judging appraisal fees......


If the charge is made per item, check the appraiser''s hourly rate. Generally you''ll find that most appraisers charge from $ 75.00 to $ 200.00 per hour, but this depends on geographic location many times. In NYC where the rents are high, expect to pay more per hour. Then take the per item price which should present you with the approximate time the appraiser will spend on your item. If he charges ( for example ) $ 75.00 per item, and his hourly rate is $ 150.00 expect to get 1/2 hour of time.

Consider that the appraiser needs to examine the item, test it for treatments, grade it, compare market prices, discuss the assignment, and then write the report. Some pieces may take hours of valuation research, and on complex apprasial report can take several hours to write the report. Needless to say, a lot of this depends on the item, and how valuable it is. A simple 0.25 carat average quality diamond in a plain ring, doesn''t require that much to come up with a value conclusion, and most appraisers would just rely on the information in price guides. But if you have a 2-3 carat stone set in a ring with a lot of side diamonds ( like a halo) made by a jewelry designer with critical acclaim, that would take a lot longer to do.

Appraisers run a business too, and as such don''t want to chase away business by quoting fees that the client tells them they don''t need. I am certain that appraisers get told commonly that they don''t need to do anything that is detailed, by the consumer. I do get this all the time. The difference here is that the appraiser can then make a choice to turn down the assignment, if they feel that what they would provide is "useless". In fact, most appraisal ethical standards require them to do this. I think the more credentialed apprasiers will turn down assignments, where they are restricted by the client to do all that is needed to prepare a professionally relevant and complete report. However, a lot will not do this. I have seen shockingly improper appraisal reports, which range from a standard appraisal form, handwritten with much information left off that was done "for free" or for a very minimal charge. Commonly, these are "feel good" documents that have little to no factual information containing values that are far greater in value than should be. Far too many consumers read things on the internet, become ill informed, and then think they know more than the expert. If such is the case, then why do they want an expert? I''d compare this to people who read WebMD, and self diagnose their health problems, telling the doctor what they want instead of relying on having a professional diagnose and treat the problems they might have properly. I have many medical doctor friends and clients that have experienced this due to TV advertising of particular medicines, and from self diagnosing based on what they read on the internet.

I also get a lot of people, who tell me how to do appraisals. More often that not - they don''t have a clue as to the work involved to do the assignment properly. And generally, if they insist on getting something that I feel is substandard or not doing all the testing, research and time to properly do the report, I reject the assignment. I think most people that approach the appraisal assignment professionally, would do the same thing.

I think many times consumers make the critcal mistake of spending thousands on an item, then being "cheap" about how it is to be evaluated to the quality, and do the proper research and report writing, or by relying on other consumer opinions, do themselves a gross injustice.

Rockdoc
 
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