Mondera Consumer Appraisal Guide

An appraisal is a written document that describes a piece of jewelry and assigns a value to it based on certain industry-established criteria. Every element that contributes to the value of a piece of jewelry should be included on a written appraisal such as gems, gem materials as well as precious and non-precious metals. Aesthetic features such as craftsmanship, beauty and overall quality are also identified for a written appraisal as well as a piece of jewelry's rarity.

Reasons to have a written appraisal done on a piece of jewelry include theft or loss of a piece of jewelry. Replacing the item with a comparable item of like kind and quality, an insurance appraisal, the most common type of appraisal done for jewelry, serves to document the kind, quality and condition of an item, along with estimating its value. Determining the value of an estate or estate taxes, charitable contributions of jewelry and collateral for a loan are other reasons for having a written appraisal done. Remember, the dollar amount on the appraisal serves to set a ceiling on the liability of the insurance company. This is the most the company would need to payoff on a claim. Click here for more important information on insurance appraisals

Before hiring an appraiser it is important that you ask any prospective appraiser about his/her qualifications. Be sure to ask about:

1) Formal Education: Courses or training programs in valuation science and appraisal methodology, appraisal theory, principles, procedures and ethics. (Personal property appraisers are not government licensed. Anyone who wants to call his/herself a jewelry appraiser can, even if they lack the training or qualifications to appraise.)

2) Professional Memberships: Belonging to organizations such as the ASA (American Society of Appraisers) or ISA (International Society of Appraisers) attest to the appraiser's commitment to keeping current on appraisal standards.

3) Gemological Certification: Gemological training is only part of the equation for a jewelry appraiser. It does not take the place of formal appraisal education.

4) Why see a professional appraiser over my jeweler? The appraiser possesses a basic understanding of the laws and regulations that are relevant to various appraisal assignments, such as estate tax or charitable donations. A professional appraiser also has a basic understanding of the different types of insurance policies available and will take into consideration how claims are handled when assigning the value.

Appraisal fees are typically quoted either by hour or by piece. Ask a prospective appraiser for an estimate before he or she starts the assignment. Make writing the appraisal as accurate as possible by making sure to share information such a diamond grading report that came with an engagement or wedding ring purchase. This can aid in expediting the appraisal work with regards to the diamond's weight, color, clarity and cut, the main qualities of a diamond that determine its worth.

If the jeweler who sold you the item gives a referral be sure to ask if there is a referral fee. Also, to ensure partiality, seek to establish if a relationship exists between the two parties. If a consumer would prefer finding an appraiser on their own a good place to begin such a search is the two main appraisal associations in the US, namely the International Society of Appraisers (AIS) and the American Society of Appraisers (ASA).

The International Society of Appraisers is a Washington-based appraisal organization that was founded in 1979. Currently the organization has over 1,400 members representing some of the most respected independent appraisers, consultants, estate liquidators, auctioneers, and dealers of antiques, decorative arts, fine art, gems, jewelry, residential and commercial contents, machinery and equipment, and many other types of personal property. The ISA can be reached at:

Address: 1131 S.W. 7th Street, Suite #105 Renton, WA 98055
Tel.: (206) 241-0359
Fax: (206) 241-0436
Email: isa@isa-appraisers.org
URL: www.isa-appraisers.org
Note: The ISA offers free appraiser referral service to consumers trying to locate trained and qualified appraisers in a wide range of personal property specialties. To learn more about the ISA or to find an ISA-approved appraiser in your area go to the group's website and click on the "Search Database" menu bar option at the top of ISA's homepage. Search the group's online database by entering various search criteria in the spaces or by using pull-down menus provided in this section.

The American Society of Appraisers is the oldest and only major appraisal organization representing all of the disciplines of appraisal specialists. Established in 1936 and incorporated in 1952, the ASA's headquarters is in the metropolitan Washington, D.C., area. In 1987 the ASA was one of eight major appraisal societies that founded The Appraisal Foundation, a national nonprofit organization created to establish uniform criteria for professional appraisers. Since 1989 The Appraisal Foundation has been recognized by the U.S. Congress as the source for the development and dissemination of appraisal standards and qualifications. The ASA can be reached at:

Address: 555 Herndon Parkway, Suite #125 Herndon, VA 20170
Tel.: (703) 478-2228
Fax: (703) 742-8471
Email: asainfo@appraisers.org
URL: www.appraisers.org
Note: ASA offers free appraiser referral service to consumers trying to locate trained and qualified appraisers in a wide range of specialty areas. To learn more about the ASA or to find an ASA-approved appraiser in your area go to the group's website and click on the "Find An Appraisal Expert" menu bar option at the top of ASA's homepage. Search the group's online database by entering various search criteria in the spaces or by using pull-down menus provided in this section.