Before you sell your jewelry and other valuables, make sure your appraiser has the credentials to accurately identify and value your property.
When faced with liquidating valuable tangible personal property, making correct and informed decisions will substantially improve your bottom line. This article focuses on gems and jewelry but the information and considerations expressed are applicable to all valuables.
WHAT AM I LIQUIDATING?
You should have your jewelry accurately identified by an appraisal professional with credentials. Unlike hiring an attorney or a medical doctor where state laws require schooling and exams to ensure proficiency, there are no educational requirements to legally call oneself a jewelry appraiser.
People often assume that when they enter a licensed jewelry store and an employee charges them for an appraisal that this ensures an accurate report. Shockingly, there are no assurances that the "appraiser" has received training, passed exams, or owns the necessary equipment. Anyone can open a jewelry store and legally sign appraisals by merely paying government licensing fees.
Ensure that your appraiser has the credentials necessary to accurately identify and value your property; minimum requirements include a gemologist diploma (e.g., Graduate Gemologist, GIA) and a gem lab. Requi...Read More