Frequently Asked Questions

An Appraisal is a statement to the authenticity, quality, design, and value of a piece of jewelry based on, and supported by, training, equipment, and expertise in the field of jewelry appraising. There are many types of appraisals which dictate the type of the use of the market considerations and value conclusions:

  • Retail Replacement: The cost in the current and prevailing markets to replace an appraised item with an exact identical new article or a comparable item equal in quality to that of the appraised.
    • Function:
      • Insurance Replacement (most common)
      • Comparison - to justify a sales price
      • Damage - extent of damage and possible repair alternatives
  • Fair Market Value: The fair market value is they price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and each having reasonable knowledge of the relevant facts.
    • Function:
      • Estate - Equitable distribution, Divorce, Donation (gift)
      • Auction - Determination of quality
      • Collateral - Determine cash value in lieu of cash for repayment on a loan
  • Liquidation: requests to convert assets to immediate cash. Generally, value is below wholesale.
    • Function:
      • Distress sale (now)
      • Forced Sale (soon)
      • Quick Liquidation (two months)
      • Orderly Liquidation by the IRS (30 days) or FDIC (90 days)
  • Other purposes:
    • Scrap - the melt value of materials.

Like any other object we use a lot, jewelry experiences wear and tear, sometimes leading to damage. Getting ahead of this wear, with a thorough inspection by one of our goldsmiths, can help identify any repairs or adjustments that may need to be made. It is a good idea to stop by about every 6 months for a complimentary cleaning and microscope inspection.