You need a professional appraisal for your fine
jewelry for your own protection. That
appraisal must be performed by
a certified appraisal professional, not just
a gemologist. The certified appraiser must
know the requirements of federal and state laws.
Mr. Altobelli is not only a certified
appraiser of gemstones and jewelry, in 1983 he
helped to develop a formal appraisal education program which is now recognized throughout the world. He was the first person to receive Certified Gemologist Appraiser (CGA) title by the American Gem Society, and since then he has certified over 500 appraisers in the US and Canada. He received the International Society of Appraisers (ISA) designation. His titles include Graduate Gemologist and Certified Gemologist Appraiser.
“Appraisals is my first love," he says, and he has
been performing them for forty-five years.
WHY DO I NEED AN APPRAISAL?
1.
Insurance - to assure a replacement of equal utility,
quality and value.
2.
Estate - for tax liability purposes, when the fair
market value of the jewelry exceeds $5,000.00.
3.
Comparison - to verify the identity and quality claimed
by a third party or to verify the value.
4.
Divorce Settlement - to appraise property in which fair
market value is used.
5.
Estimate to Replace - to determine values of items that
were lost or stolen.
6.
Damage - to indicates the weight loss resulting from
re-cutting a damaged stone and its loss of value.
7.
Collateral - to use the jewelry or gemstones for
obtaining a loan, etc.
8.
Donation and Gift - for tax deduction purposes based on
IRS regulations.
9.
Barter - when parties exchanging one commodity for
another.
10. Customs - to prove that an item was not purchased in
a foreign country upon return.
11. Casualty Loss – for an income tax deduction for lost
and damaged items NOT covered by insurance.
12. Conservatorship – to determine the value of the
estate when an individual becomes incapacitated.
13. Distribution of Property - to use with a will.
Precludes heirs from squabbling over the estate.
14. Proof of Ownership - to provide positive
identification when items have been recovered.
15. Investment – to provide a prospective appreciation
analysis.
A Professional Appraisal will include:
A description of the gem or article of jewelry
Stone
identification
Stone
weights
Stone
measurements
Stone
shapes, cut, and polish
Stone
clarity, color
Graphic
plot of major stone inclusions
Quantity
of stones
Content
& type of metals
Manufacturing
technique
Trademarks
Values
BEWARE OF ADS THAT CLAIM YOUR APPRAISAL WILL DOUBLE
You may have heard commercials
that claim that the diamond you buy from them will
be appraised for at least twice the price! Do
you really believe this? Many of these
establishments base their selling philosophy on the
premise that most people that buy these diamonds
will not have them appraised thereafter. Some may do
so only to find out to their dismay that they are
not worth twice the price. They usually
will do nothing about it except never return for
additional purchases. Others—a small percentage—will take them back, and the vendor will give them a refund if they wish. That small percentage will have little effect on the overall scheme of misrepresentation. The purchaser may receive a value commensurate with her purchase price, but this is hardly the “twice the value” bargain price it was purported to be. More times than not, the merchandise is also of inferior quality and misrepresented in that realm as well.
WILL YOUR APPRAISER SWITCH YOUR DIAMOND?
We sometimes fear having an important diamond switched by some unscrupulous jeweler. Many times, sentiment about an engagement ring or family heirloom can be as important as market value. Most jewelers are honest and ethical merchants. Some may charge more than others (sometimes a lot more!), but switching doesn’t happen very often—still, it
can happen.
To safeguard you from this experience, find a reputable appraiser who can give you a definitive description of your diamonds. This should include the shape, millimeter dimensions, carat weight, color, clarity and cutting grades. The critical element is to have a plotted diagram—a blueprint of the diamond. This will show the internal and external characteristics of the stone—inclusions (size, configuration and location), blemishes, damage and any peculiarities. Having all of this will preclude anyone from possibly substituting your diamond with another.
In addition, if the diamond is ever stolen and recovered by an enforcement agency, you will be able to claim your diamond with this absolute identification; otherwise, it will be auctioned off at their next sale. If you choose not to obtain an appraisal, at least take a close-up photo of all of your valuables.
An American Gem Society Certified Gemologist or Certified Gemologist Appraiser is capable of handling this for you.
