Purpose of Jewelry Appraisal
you would like to sell to your neighbor and you would like a
port is based on a now technically used, pre-owned, or estate
piece, the appraiser would create a value based on Fair Market
Value. FMV may be based on market data, wholesale value,
sometimes auction values. Another example of purpose
would be the dissolution of property, likely because of a separation
or divorce. This type of report may result in a totally
different type of value depending on the method in which the
articles of property need to be divided.
Another type of value that is extremely common is scrap
value. This is where most people unfortunately get taken ad-
TBy Dan Mescall, Boyd
going to discuss some of the most common
jewelry appraisals and hopefully clarify the
This article is goin
confusion about jewel
purpose and importan
importance of an appraisal report. Most people
are familiar with the concept of getting their personal property
appraised, but may not understand fully the true purpose
of the report.
It is important to understand that the appraisers’ job is
to create a value that suits the purpose of the appraisal based
on the time and the market in which the article is being appraised.
I use the word purpose, and this is the word that I
want to stress to the reader, because most, if not all questions
about appraising jewelry can be answered by learning about
heavily on the purpose of the report.
What do I mean by purpose? Let
you purchased a new ring and would
like to obtain insurance on that ring.
Well you would need an appraisal that
creates a value based on a new replace-
on articles that sell at new, retail pric-
ufacturers, wholesalers, and retailers
the insurance company has to replace
your article with a like kind, new piece
of jewelry. This is the most common
type of appraisal, and should be used
for one purpose, to obtain insurance.
It would not be appropriate to use
that value to sell your jewelry to your
Now let’s say you have a ring that
A proper evaluation report will protect
many people from the confusion of being
given an offer to buy versus how much
their jewelry is worth.
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