Dear JewelryRatDate: 4/30/2005 3:30:15 PM
AIG appraisal values do not comes out. Not on one but three different items. Are their appraisal worth the paper they written on??
Does the appraisal have with it a statement of independence? Yes.
Did the seller provide ( and pay for) the report? The seller provided the report. I called to verify it authenticity.
Does the person who wrote the report list his qualifications in it? Is the person a gemologist? Does the person have appraisal education and credentials? Gemologist GJG GIA & Gemologist M.Sc.
Is the value specifically describe what the value is for, and how it was arrived at? Yes, it gives a specific value.
Does it disclose which market is reported? No, it does not disclose a market report.
Does it specify market conditions and desrireability of the item? No.
Does it report the quality and type of manufacture for jewelry? It does give a quality report.
Does it describe what gemological testing procedures and equipment used to determine the grading? All reports use GIA standards.
If it is for jewelry, does it state whether or not the items were graded in the mountings? All stones were graded loose.
Those are viable educational credential for a gemologist, but nothing you''ve stated has anything really meaningful for appraising.
What is that value? Insurance etc.? If it says Retail Replacement Value as many do, it should define exactly what that means. Is it the replacement value to a consumer buying the item is WHAT kind of retail store, or is it the Retail Replacement Cost that an Insurance Company would pay.
To answer this in a broad fashion.... theoretically the same or comparable item could be sold by a pawn shop or flea market retailer, all the way up to a Fifth Avenue type store, such as Cartier or Tiffany etc. and of course every where in between. An appraisal done professionally should define this so that any forseeable party would know what the facts are.
It is good that they disclosed a standard in their report.
No apology is necessary. This is a very common set of questions and both consumers and ‘appraisers’ regularly misunderstand both the appraisal process and what can and cannot be learned by reading a report. The items quality or lack thereof MAY be the subject at hand but it’s not necessary. That’s why it’s so important to explain in the report what the issues are. Many appraisal reports are more than a dozen pages long while others will fit on a credit card. The later are usually quite a bit less expensive but it both cases it’s necessary to decide if this is appropriate for the purpose at hand.
In your fruit example, a report that you have an apple would be true and, for a client who didn’t already know this, perhaps even useful. If this is all they really wanted to know, it would be inappropriate to charge them for DNA testing to determine the lineage of the tree, even if the appraiser is prepared to do this. If a potential buyer is interested in evidence that the apple isn’t diseased, then the appraiser hasn’t said anything useful (to them) and their report should be ignored as irrelevant. This is not a disparagement of that appraiser. It’s true even if that appraiser is equipped and capable of doing the proper disease test. The buyer may very well consider hiring them to do their own examination with a different purpose and get a completely different report. Neither is it an endorsement. Most people can properly identify it as an apple. The disease test is considerably more difficult and probably more expensive. The fact that they correctly identified an apple doesn't really tell you much.
Items accompanied by AIG appraisal reports are regularly sold on ebay for prices that range from 1%-10% of the stated value. For most people, a report where an appraiser has listed a price to within a factor of a hundred isn’t very helpful nor are pricing suggestions for a theoretical jewelry store that may or may not exist on this planet.
In a lot of area these days not just jewelry its a lot safer to assume that everyone is out to get you.Date: 5/2/2005 3:402 PM
What you ought not assume is that everyone is out to get you or that the appraisal guys are all in the pockets of their dealer customers. Honest people just don''t sell out for an appraisal fee.....
FOUR TIMES IS A BIT HIGH????Date: 9/19/2005 2:32:45 PM
I agree, 4 times is a bit high and since I''ve had many diamonds appraised by AIG, I think that was either a bogus report (which does happen and is not difficult to make with photoshop) may have been an error but without having the appraisal number and questioning AIG on it, I can not say. They WILL answer questions about an appraisal if you give them the number.