What should an appraisla cost?

[J S Machine]

Sorry the title is supposed to say appraisal..

I was wondering if there are jewelers here who would charge to do an appraisal. I have been charged a small fee, and then sometimes nothing at all.

Just wondering what the average appraisal fee is.

I am referring to a product not bought in the specific jewelry store you are in, but a product that you carry into the store and ask about.

Thanks

 

[Skippy123]

It depends but if you look at this link https://www.pricescope.com/appr_list.aspx the appraisers sometimes list their prices. I recently appraised something and it cost $150 but it really depends on the piece.

 

[JohnQuixote]

Date: 1/4/2008 2:17:26 PM
Author:J S Machine
Sorry the title is supposed to say appraisal..

I was wondering if there are jewelers here who would charge to do an appraisal. I have been charged a small fee, and then sometimes nothing at all.

Just wondering what the average appraisal fee is.

I am referring to a product not bought in the specific jewelry store you are in, but a product that you carry into the store and ask about.

Thanks

STOP.
Do not pass go.
Do not shell out $200 (or even $65).

Anyone working in a store that sells gems & jewelry is not an independent appraiser. If you would like a true, unbiased gemological analysis you should use only an independent profesional (hopefully with strong qualifications and experience) who does not sell gems or jewelry and works out of his own office. Bad apples exist in every profession and among the honest jewelers are some who will create anxiety about a purchase in hopes of gaining new business. Although "appraisal" services for outside products is a clear conflict of interest, some jewelers do it because it generates profit and provides the opportunity to create doubt. Unfortunately competing jewelers are notorious for devaluing outside products if they sense they can bring that customer to their side... Thankfully there are more honest, reputable dealers than swindlers, but it takes only a few bad apples to spoil a trade’s reputation.

As for pricing, some of the finest appraisers in the business post on Pricescope. Maybe they can offer insight here.

 

[Ellen]

Date: 1/4/2008 2:17:26 PM
Author:J S Machine
Sorry the title is supposed to say appraisal..

I was wondering if there are jewelers here who would charge to do an appraisal. I have been charged a small fee, and then sometimes nothing at all.

Just wondering what the average appraisal fee is.

I am referring to a product not bought in the specific jewelry store you are in, but a product that you carry into the store and ask about.

Thanks

I would not advise this. On the few occasions this was done for me (pre-pricescope), it left much to be desired in the way of important, specific info needed in the case of an insurance clain. They''re just not too thorough. And you may not be getting a clearly unbiased opinion.

An independant appraisal is always best. Average price runs about 100-150, give or take a few. Location plays a small part.

 

[Ellen]

Posting while Sir John was.

 

[denverappraiser]

Appraiser can set their own prices and some value their time and skills more highly than others. Some HAVE more skills. It depends on what you want done. An 'appraisal' involving a 5 minute inspection by an untrained worker is often very inexpensive or free and a thorough inspection and reporting by an expert can run into several hundred dollars. Like most professional services, the cheapest is rarely the best. What is it that you are hoping to accomplish?

Any appraiser should be happy to discuss their rates with you before they start as well as explain to you what you can expect them to do for this fee.

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

 

[oldminer]

Retailers generally will appraise or re-appraise items they have sold to you for free or nearly for free. Some retailers prefer not to call this "appraising", but the essential paperwork they provide is the virtual equaivalent of an appraisal, but with an understandable bias seeing as they also sold the item.

Independent appraisers charge mostly by the time it takes, how much they believe their time is worth, the market they are located in, their overhead, and sometimes for the complex nature of the assignement. You may find one who charges $5 to $25 per item and another who initially charges close to $200 and then an hourly rate. There is little consistency here. There are a lot of differences between appraisers, too. Looking at them does not immediately reveal who can provide a higher level of expertise than another. You also can't tell when an appraiser is fast or slow. This only is revealed after the hourly rate is already set. Not a perfect situation.

In between these two types of polar opposite appraisers are retailers who also do quasi-independent appraisal work. They tend to charge somewhat less than the highest fees and most have few real appraisal credentials. They can often be adequate, but when you are buying a new item from another source, you are setting yourself up for a conflict of interest situation. they may well prefer to ruin your deal and make a sale themselves. Surely, there are some retailers who are saints and would never consider doing such a unethical thing, but again, you can't tell by the way they dress, talk or look. You won't know until you are trapped in a problem with few solutions.

Call a few of the Pricescope appraisers and simply ask them how they charge. Every one of them will give you a direct response if you suggest that the item is a simple thing, like a 1 carat round diamond engagement ring. I have had people get an estimate for a simple item and them bring in a 25ct total weight fancy diamond necklace and try to hold me to the initial phone conversation. So, be realistic in your request.

 

[Modified Brilliant]

Hi JS,

There really is no "average" appraisal fee. My company surveyed over 40 retail jewelry
stores who perform appraisals. The prices varied widely from $25 to $150 for one item. Depending on the level of expertise
and whether the appraiser is an "independent" appraiser will usually determine the fee.
The quality of the appraisal and the completeness of the evaluation of the item varies from appraiser to appraiser.

If I were a consumer spending thousands of dollars on a jewelry purchase, I would not be inclined to
use an appraiser who charges "the least" for his/her services. Sort of like using the least expensive lawyer in
an important life changing court case.

You''ve heard this before on Pricescope...APPRAISE THE APPRAISER.

Jeff Averbook,GG
Graduate Gemologist/Appraiser

www.metrojewelryappraisers.com

 

[Modified Brilliant]

Nice to see Dave and Neil enjoying a relaxing Friday afternoon answering great
questions from consumers.

Happy New Year guys!

Jeff

 

[mintve]

Just as a point of reference, one of the appraisers listed on PS for the Atlanta area quoted me $95 to appraise a 1 carat stone.

 

[J S Machine]

I understand the difference now. If I go into a B&M jeweler and ask for an appraisal, I will probably most likely be getting what they "refer" to as an appraisal.

On the other hand, if I look up a certified appraser that does this kind of work independently I will most likely be charged a price for the premium experience and their expertise.

Don''t get me wrong here, I have no problem with paying for something, especially something of quality. That answers my question.

I guess the last question I have would be this:

Will my homeowner''s insurance know the difference between the "mediocre" or "not so good" appraisal and the certified appraisal from an independent appraiser?

 

[denverappraiser]

Date: 1/4/2008 5:18:46 PM
Author: J S Machine

Will my homeowner''s insurance know the difference between the ''mediocre'' or ''not so good'' appraisal and the certified appraisal from an independent appraiser?

Your agent probably won’t, but your claims adjuster sure as heck will. If you ever need to file a claim, the company will most likely want to replace the lost piece with another of ‘like kind and quality’. This will be based on the descriptions, photographs, lab reports, test results, ASET and IS images and other data found in the appraisal. That is, it will be based on this if it’s there. If not, they’ll guess. The question becomes whether you think you’re likely to be happy with their guesses. If you never file a claim, it doesn''t make a bit of difference either way.

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