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Non-insurance Appraisals

There are several types of appraisals in which the “Market Value” or “Fair Market Value” is used to determine the monetary worth of the item. This means that the condition of the item, obsolescence and desirability are considered in establishing the value in the appropriate pre-owned or secondary retail market. In some cases that market may include the “collector” market; in other cases it might mean the “scrap” market. Some appraisers, jurisdictions and organizations use the term “Fair Market Value” and “Market Value” interchangeably; these reports provide the specific definition used by the appraiser for each type of appraisal.

Resale Appraisal

An appraisal for resale should provide enough detail and explanation to answer the questions a potential buyer might have when deciding whether or not to make an offer.  There are several different value types that might be appropriate and the choice is up to the client.  Most often, the only publicly available market data that is used to form the value opinion will be from the used jewelry retail market.  For that reason I advise clients that a resale appraisal represents a reasonable place to begin negotiations and should never be considered as a guarantee of a price they'll realize in the sale.

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American Gem Society
Gemological Institute of America Inc.
American Society of Appraisers
National Association of Jewelry Appraisers
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