Sometimes the most basic of questions is the best question. For example, why do markets exist? Most everyone has heard about “supply and demand.” To be blunt, one should view the relationship between supply…
The Appraiser's NotebookBarron’s Dictionary of Insurance Terms defines indemnity as, “Compensation for loss. In a property and casualty contract, the objective is to restore an insured to the same financial position after the loss. But the insured should not be able to profit by damage or destruction of property, nor should the insured be in a worse financial position after loss.”2 In essence, the insured is not to make a profit or sustain a loss but to break even in the event of casualty loss.
News ArchiveMelee diamonds may be the best example of the problem gemologist-appraisers face in this new struggle for gemological truth.
*Free Featured ArticlesHow convenient it is to use a price guide to retrieve prices for diamonds and colored stones. Merely adding a markup to determine a value seems too easy. Some gurus of valuation theory are emphatic that price guides should be banned. Other experts embrace price guides as a key part of the process.
*Free Featured ArticlesA common request from clients to the appraiser is to email a PDF of the appraisal to them or directly to their insurance agent (which you will soon see is not a good practice). Some…
News ArchiveOne of the frequently asked questions from subscribers that are considering entering the appraisal field is, “What credentials do I need to become an appraiser?” The short answer is, “it depends.” Unlike real estate appraisers…
*Gem Focus & Market Pulse (Free Subscriber)Question: Can an insurance company reasonably turn down my client for coverage on her ring that has a chipped diamond? Answer: Yes but it is the insurance company’s game. We just need to know the rules…
News ArchiveThe historical importance of Japanese akoya, South Seas, and Tahitian pearls is key to the cultured pearl industry. Early courses taught by the GIA and subsequent grading systems developed by Gemworld incorporated key elements of…
News ArchiveNew jewelry is easy to value but what happens when a customer brings in an item of jewelry showing damage or excessive wear? As the independent appraiser, your job includes an accurate description of the…
News ArchiveAlthough the assignment discussed here involves a cracked or crazed opal, the methodology is similar for any damaged gemstone. The appraiser only has what is in front of them, and if it is a damaged…
News Archive