Great point Neil, and thanks for clarifying. A replacement value with no explaination IS confusing- but a qualified appriaser- like yourself- will clarify many things about the value of a peice of jewelery.
We both agree that there are unscrupulous sellers who use inflated "Appraisal Values" attemping to fool buyers.
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Certification
Started by haa1025, Jun 12 2006 06:42 AM
22 replies to this topic
#21
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- A-List Jeweler
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Ideal Diamond
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#22
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- A-List Appraiser
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Ideal Diamond
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Posted 16 June 2006 - 07:46 AM
diamondsbylauren, on Wednesday, Jun 14 2006, 02:23 PM, said:
We provide appraisals as a service for our clients. We tell folks that we can appraise their purchase anywhere from the exact cost, in some cases up to double what they paid.
When presented with this decision, what do your customers generally choose?
Neil
Neil Beaty
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There's never a crowd when you go that extra mile.
Professional Appraisals in Denver
GG(GIA) ICGA(AGS) NAJA
There's never a crowd when you go that extra mile.
Professional Appraisals in Denver
#23
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- A-List Jeweler
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Posted 16 June 2006 - 04:21 PM
Good question Neil!
It really depends on what the person is buying.
Say they just bought a 1.15 J/Vs2 oval- or a 1.52 G/VS1 Princess Cut..... let's assume a colorless diamond in the most popular size and clarity.
It's likely that we, or another seller - could provide a comparable item, at a comparable price.
Say someone did buy that 1.15 for $5K, and asks for an appraisal for $8500 ( reasonable for a full retail mark up appraisal).
We advise them that it's possible for the insurance company to charge a premium based the stated value- except, in the event of a loss, they can replace the diamond- and they know how to buy it for $5k too.
So, sometimes, over appraising can cause a waste of money.
A few weeks back a gentleman purchased our 1.51 Fancy Vivid Yellow Internally Flawless Diamond- for less than $30K
Of course, as luck would have it, within 3 days after he'd purchased it, at least 3 other potential buyers came forward.
In looking for another stone with those specs I realized, my diamond, well, HIS diamond could easily bring $40-45K- which is what I advised him to have us write the appraisal at- $45K
In a way, this points out how skilled someone like Neil needs to be.
When a honest knowledgeable seller writes an appraisal, they have all the info in hand.
It's quite simple to write an appraisal if you know the weight , and measurements of the diamonds-It's easy for an experienced grader to color and clarity grade the diamond when loose- prior to manufacture.
Neil ( and other qualified Gemologists) have to act as a detective.
It's much more difficult to grade and measure diamonds after they are set.
It really depends on what the person is buying.
Say they just bought a 1.15 J/Vs2 oval- or a 1.52 G/VS1 Princess Cut..... let's assume a colorless diamond in the most popular size and clarity.
It's likely that we, or another seller - could provide a comparable item, at a comparable price.
Say someone did buy that 1.15 for $5K, and asks for an appraisal for $8500 ( reasonable for a full retail mark up appraisal).
We advise them that it's possible for the insurance company to charge a premium based the stated value- except, in the event of a loss, they can replace the diamond- and they know how to buy it for $5k too.
So, sometimes, over appraising can cause a waste of money.
A few weeks back a gentleman purchased our 1.51 Fancy Vivid Yellow Internally Flawless Diamond- for less than $30K
Of course, as luck would have it, within 3 days after he'd purchased it, at least 3 other potential buyers came forward.
In looking for another stone with those specs I realized, my diamond, well, HIS diamond could easily bring $40-45K- which is what I advised him to have us write the appraisal at- $45K
In a way, this points out how skilled someone like Neil needs to be.
When a honest knowledgeable seller writes an appraisal, they have all the info in hand.
It's quite simple to write an appraisal if you know the weight , and measurements of the diamonds-It's easy for an experienced grader to color and clarity grade the diamond when loose- prior to manufacture.
Neil ( and other qualified Gemologists) have to act as a detective.
It's much more difficult to grade and measure diamonds after they are set.
