What's it
worth? "What's it
worth?" are usually the first words off the lips of individuals
looking for an appraisal in a jewelry store. This question, from a
jewelers point of view, begs a rhetorical response; "Worth to
Whom?"
Appraisals come in
all shapes and sizes: Retail, Replacement, Resale, Estate, Purchasing,
Scrap and Collateral are some of the most common.
Retail appraisals
reflect the original manufactures suggested selling price or List Price
and are usually given to a customer at the point of purchase. Replacement
appraisals on the other hand would be presented to an insurance company
as guide in setting a premium and would be a closer indication of the
actual purchase price.
Resale appraisals
are given to persons seeking to sell an item privately to a third party,
on an on line auction or on consignment. They give the person an idea of
a realistic selling price.
Estate appraisals
are evaluations on an collection of jewelry that would be equitably
divided among family members upon the death of the owner or sold in
estate sale or auction.
Purchasing
appraisals are assessments made for people who want to immediately sell
their jewelry to the jeweler giving the assessment, in this instance the
items value is extremely variable and depends on the current needs and
buying power of the jeweler.
Scrap appraisals
are appraisals on worn and broken jewelry that has no resale value and
would only be purchased by the jeweler as scrap metal to be sent to a
refinery, this is bought on a per gram formula set by the company.
Collateral
appraisals give insight for a party who wants to put his or her item up
as collateral on a personal loan and needs an idea of the appropriateness
of the item for the particular situation.
So, What's it
worth?
Appraising is more art than science and the best appraisers
apply the most science to the art.
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