The Appraisal Process has three parts:
Evaluation involves identification of stones and metals, a process of elimination using standard, non-destructive tests, as well as thorough documentation of the complete item’s nature and any relevant qualities or markings. Cleaning and photography of each appraised item is included. Each piece takes approximately 20 minutes to evaluate, depending on the complexity of the piece. The complete evaluation is performed in-person while you wait. I do not carry any merchandise.
Valuation involves research and analysis of appropriate markets for the intended use of the appraisal. Common uses include Insurance Replacement, Equitable Division, Estate Tax, Liquidation and Resale, among others. Methodology for determining an appropriate value usually involves either the Sales Comparison Approach or the Cost Approach. Most common values determined are either Replacement Cost New (Less Depreciation) or Fair Market Value (FMV), defined by the IRS as the amount of money required for an item to change hands between a willing and knowledgeable buyer and seller, neither under compulsion to buy or sell under duress, both parties fully aware of the important facts regarding the item. Certain intended uses require FMV determination.
Report Writing takes time to be accurate and thorough. The finished document is crucial for acceptance by the intended parties for their specific use. Your appraisal report will include a narrative analysis of pertinent markets and conditions, as well as description of methodology employed and USPAP certification statement. Itemization of all pieces including color photograph and written description documenting each item's nature and characteristics with weights and measurements.
Depending on the number of items to be appraised, please allow at least 48 hours turnaround time for finished appraisal document delivery.