Appraisal of Pearls From Vendors on Pearl-Guide
- Thread starter manhong
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Heidi
Well-known member
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- Apr 5, 2008
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I have an appraisal from Sharon Wakefield of Northwest Gemological Laboratory. She is extremely reputable, in particular as regards pearls. The appraisal I have is for purposes of retail replacement value and it is in keeping with the value in the appraisal from the vendor.
There are different kinds of appraisals - for retail replacement is a common one you find and it reflects the equivalent price for the replacement item from a "bricks and mortar" store. In my experience, all of the vendors here offer appraisals by people who hold the Pearls Diploma from the GIA, at a minimum. You can learn more about the GIA at their website here: LINK. They have some helpful information about reports and appraisals on their website.
There are different kinds of appraisals - for retail replacement is a common one you find and it reflects the equivalent price for the replacement item from a "bricks and mortar" store. In my experience, all of the vendors here offer appraisals by people who hold the Pearls Diploma from the GIA, at a minimum. You can learn more about the GIA at their website here: LINK. They have some helpful information about reports and appraisals on their website.
GemGeek
Pearlista
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- Sep 20, 2006
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If the purpose of the independent appraisal was for insurance replacement and the replacement market comparables were online sales, it would be similar to the selling price. If the purpose was a fair market value and the market was brick and mortar jewelry stores, then the value would be close to the supplied appraisal.
You can't use appraised value to figure out which vendor has the best deal because they have differing standards for grading and value. Look at what people have to say about the vendors on this site.
Try ordering from more than one vendor and compare. Nothing will teach you faster than that.
You can't use appraised value to figure out which vendor has the best deal because they have differing standards for grading and value. Look at what people have to say about the vendors on this site.
Try ordering from more than one vendor and compare. Nothing will teach you faster than that.
Heidi
Well-known member
- Joined
- Apr 5, 2008
- Messages
- 759
If the purpose of the independent appraisal was for insurance replacement and the replacement market comparables were online sales, it would be similar to the selling price. If the purpose was a fair market value and the market was brick and mortar jewelry stores, then the value would be close to the supplied appraisal.
You can't use appraised value to figure out which vendor has the best deal because they have differing standards for grading and value. Look at what people have to say about the vendors on this site.
Try ordering from more than one vendor and compare. Nothing will teach you faster than that.
You said it better than I!
Just for my own edification: How often do we see appraisals that use online pricing for the comparables? I've been taught (by appraisers and jewelers) that the typical replacement market reference is the bricks and mortar one. Since the market is changing so rapidly, is the methodology we see in the appraisal world changing in a similar way?
GemGeek
Pearlista
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- Sep 20, 2006
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- 9,196
If you don't want to over-pay for insurance and the item is readily available at the price you paid, your insurer can agree to replace it at the same seller and insure at the lower vaue. The higher the value, the more you pay for insurance.
Insurers replace the item at the lowest possible price anyway. The most important thing about the appraisal is to get a solid description that will get you the same quality strand if you lose it. If you have a policy that says it must be replaced with a "Freshadama" strand at Pearl Paradise, then that is where they will go and you can be sure that you'll get the same quality item. The same goes for brick and mortar stores. If I bought an engagement ring at a high-end store, I wouldn't want it to be replaced at Blue Nile.
Insurers replace the item at the lowest possible price anyway. The most important thing about the appraisal is to get a solid description that will get you the same quality strand if you lose it. If you have a policy that says it must be replaced with a "Freshadama" strand at Pearl Paradise, then that is where they will go and you can be sure that you'll get the same quality item. The same goes for brick and mortar stores. If I bought an engagement ring at a high-end store, I wouldn't want it to be replaced at Blue Nile.
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