Question regarding appraisal
- Thread starter mikemaz
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As far as showing the report you have, then it takes less time to verify. Plus if you don''t show the report to the appraiser how does he verify it is the same stone? Of course you could "hide" the cert first if you wished, but then the grading and comparing will take longer, as the appraiser would want to check for other things after you present the report that maybe he didn''t see or cover the first time. Since many appraisers, charge by the hour, this would proably just increase your costs.
See the other threads here about appraisals and appraisers
The first thread as well as the "walk me through" thread.
As for set or unset. It is far better unset. I think just about every appraiser would write a disclaimer on the report that it was graded insofar as the mounting permits. That would get him "off the hook" if the grading were not correct or accurate.
Rockdoc
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We are glad to be tested and to do our grading in advance of seeing documentation. HOWEVER, it goes faster when we see what is available before we do our work. Since time is an element of the fee for most appraisals, then it is up to the decision of the consumer whether they want us to do the job one way or the other. No appraiser or lab promises to be exactly the same as another lab or appraiser. Our purpose is to add to your knowledge of the item and to describe it as best we can. After that, we attempt to set a value on it that is appropriate for the purpose the client needs the appraisal for, the intended use.
The more we know about a diamond, the more we can target any difference of opinion we might have to offer. Either way, the job should come out about the same in the end.
The more we know about a diamond, the more we can target any difference of opinion we might have to offer. Either way, the job should come out about the same in the end.
My appraiser will be Harold Weinstein, www.hwgem.com.
They actually charge a flat fee of $75 and are supposed to be one of the more reputable places here in Toronto. I wasn''t sure if I should present the cert to them or let them make the determination of color, clarity, cut, etc...
I''m going to be taking them a mounted stone however, so providing the cert might be the best option so they can better judge the cut quality of the stone... just want to ensure they do their job and not rely on the cert to get their information.
The other thing I don''t particularily like is that they grade the stone in private... and then they present you with the information at the end of the appraisal... hence why I''m skeptical of giving them all the information upfront.
What are your expert opinions? Thanks in advance!
They actually charge a flat fee of $75 and are supposed to be one of the more reputable places here in Toronto. I wasn''t sure if I should present the cert to them or let them make the determination of color, clarity, cut, etc...
I''m going to be taking them a mounted stone however, so providing the cert might be the best option so they can better judge the cut quality of the stone... just want to ensure they do their job and not rely on the cert to get their information.
The other thing I don''t particularily like is that they grade the stone in private... and then they present you with the information at the end of the appraisal... hence why I''m skeptical of giving them all the information upfront.
What are your expert opinions? Thanks in advance!
OK
Let''s say a consumer comes in..... and you grade the stone SI-1 clarity G color.
Then he pulls out a grading report from a reputable lab that says VS-2 - H?
So..... what do you think as a consumer. Willl an explanation that might take a while impress you?
Obviously, any gemologist might tell you an answer in one of several ways....
a ) That is my opinion of the grading,and the lab is incorrect. I don''t agree with them.
b) The stone is a borderline stone and could be graded either way so it is possible that either grading is proper
c) Maybe I was too harsh in my grading, and it''s reasonably close to how it was represented
d) the stone is mounted now and the lab graded it unset - so perhaps they are correct
e) some other explanation as to why there is a difference
All of the above MIGHT be reasonable since diamond grading is subjective, but inside your mind, how do you feel as a consumer?
So consumers put yourself in this scenario and say how you''d feel.
Appraisers : How would you respond when the customer puts you on the hot seat with this?
Rockdoc
Let''s say a consumer comes in..... and you grade the stone SI-1 clarity G color.
Then he pulls out a grading report from a reputable lab that says VS-2 - H?
So..... what do you think as a consumer. Willl an explanation that might take a while impress you?
Obviously, any gemologist might tell you an answer in one of several ways....
a ) That is my opinion of the grading,and the lab is incorrect. I don''t agree with them.
b) The stone is a borderline stone and could be graded either way so it is possible that either grading is proper
c) Maybe I was too harsh in my grading, and it''s reasonably close to how it was represented
d) the stone is mounted now and the lab graded it unset - so perhaps they are correct
e) some other explanation as to why there is a difference
All of the above MIGHT be reasonable since diamond grading is subjective, but inside your mind, how do you feel as a consumer?
So consumers put yourself in this scenario and say how you''d feel.
Appraisers : How would you respond when the customer puts you on the hot seat with this?
Rockdoc
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Hi Rock Doc:
A challenging situation, indeed.
Many consumers want me, the appraiser, to give my unbiased opinion of the diamond first. They feel that as a trained professional that I should feel comfortable doing my own analysis first. In fact, oftentimes the consumer will say "I want to see what you think" before you look at the lab report. That''s fine with me.
I find it challenging and I''m very confident in the grading of mounted diamonds. I do alot of insurance appraisals on diamond rings that are not new purchases, so I have no problem with this.
I believe that most consumers understand that the grading of a mounted diamond will not be as accurate as the grading of a loose diamond.
That''s just common sense. All of this is explained before the grading process begins. Personally, I prefer to do my work before looking at any documents.
However, after my evaluation, I believe that it is in the best interests of the consumer to produce a lab report (if they have one) for comparison and discussion. I''m not perfect but my clients leave satisfied that I did a thorough and professional job to the very best of my ability. Do I always agree with the lab report? Not always. But will two, three, four or six appraisers or labs always agree on everything? Usually not.
There will never be "across the board" consistency in any appraisal profession. Try getting three real estate appraisers to agree on the value of your home.
It is not uncommon that when a person is applying for a home equity line of credit, that the applicant will want a second appraisal done, if they feel that the first appraisal is too low.
Just my observations...I would be interested in hearing from other appraisers.
www.metrojewelryappraisers.com
A challenging situation, indeed.
Many consumers want me, the appraiser, to give my unbiased opinion of the diamond first. They feel that as a trained professional that I should feel comfortable doing my own analysis first. In fact, oftentimes the consumer will say "I want to see what you think" before you look at the lab report. That''s fine with me.
I find it challenging and I''m very confident in the grading of mounted diamonds. I do alot of insurance appraisals on diamond rings that are not new purchases, so I have no problem with this.
I believe that most consumers understand that the grading of a mounted diamond will not be as accurate as the grading of a loose diamond.
That''s just common sense. All of this is explained before the grading process begins. Personally, I prefer to do my work before looking at any documents.
However, after my evaluation, I believe that it is in the best interests of the consumer to produce a lab report (if they have one) for comparison and discussion. I''m not perfect but my clients leave satisfied that I did a thorough and professional job to the very best of my ability. Do I always agree with the lab report? Not always. But will two, three, four or six appraisers or labs always agree on everything? Usually not.
There will never be "across the board" consistency in any appraisal profession. Try getting three real estate appraisers to agree on the value of your home.
It is not uncommon that when a person is applying for a home equity line of credit, that the applicant will want a second appraisal done, if they feel that the first appraisal is too low.
Just my observations...I would be interested in hearing from other appraisers.
www.metrojewelryappraisers.com
Richard Sherwood
Ideal_Rock
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Of course, neither lab cares about the other.
The cliient isn''t going to them for a verification necessarilly and most commonly.
GIA and AGS aren''t accepting their assignments for grading, with the intended purpose of verifying each other''s grading.
Our clients generally come to us with the intent of making sure the grading report is confirmed.
Like you, if the client wants to have me do a full grading, rather than a confirmation, that is OK too.
I just think the thrust of the assignment is different.
Rockdoc
Richard Sherwood
Ideal_Rock
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I guess the difference is I don't do confirmations, per se.
I just do my analysis, and then compare it to the major lab report. If it agrees, great. If it disagrees, the differences are usually minor and easily explained to the client's satisfaction. If the disagreement is major, then a closer look is warranted to determine why.
I feel this gives the client my truly unbiased and uninfluenced opinion of the stone, which aids them in their buying decision or in their knowledge of what they already own.
I just do my analysis, and then compare it to the major lab report. If it agrees, great. If it disagrees, the differences are usually minor and easily explained to the client's satisfaction. If the disagreement is major, then a closer look is warranted to determine why.
I feel this gives the client my truly unbiased and uninfluenced opinion of the stone, which aids them in their buying decision or in their knowledge of what they already own.
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I am used to think that double-blind review is a good witch
- good, in the same way as pulling teeth is 'good for you' etc. You get the idea.
If a diamonds's grades or cut quality cannot stand double-blind review by industry experts, it can't be the fault of the diamond, and probably not the fault of the expert either since you chose their service based on credentials etc. It may be that these grades were not meant to be checked... I am not an expert myself, this is only some random take on things.
If a diamonds's grades or cut quality cannot stand double-blind review by industry experts, it can't be the fault of the diamond, and probably not the fault of the expert either since you chose their service based on credentials etc. It may be that these grades were not meant to be checked... I am not an expert myself, this is only some random take on things.
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As I mentioned in my earlier post...I just do my own analysis. I agree with Richard and I believe in most cases, this is what the client wants.
www.metrojewelryappraisers.com
strmrdr
Super_Ideal_Rock
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I would tell the appraiser I have the report but ask that they do there own grading before they see it if im paying for a full appraisal.
If im just paying for 30 min with the end result documentation for insurance then Id say here is the ring and all the reports please verify that the reports match the diamond and that the information matches and the diamond hasnt been damaged. I would like the value of the diamond/ring stated in the local market and the internet (for online purchase) market please.
If im just paying for 30 min with the end result documentation for insurance then Id say here is the ring and all the reports please verify that the reports match the diamond and that the information matches and the diamond hasnt been damaged. I would like the value of the diamond/ring stated in the local market and the internet (for online purchase) market please.
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