Choosing a Diamond Appraiser Who Is Qualified
Just like choosing the perfect diamond, choosing a diamond appraiser should be taken very seriously. To make sure you are getting the best diamond appraisal, it is important to choose an educated and professional diamond appraiser who possesses specific qualifications.
A qualified appraiser should be a certified graduate gemologist through the Gemological Institute of America (GIA). This ensures that the appraiser is trained in gem identification and diamond grading based on the key characteristics of color, cut, clarity and carat weight. Although certification through GIA provides an individual with expertise in determining the quality of the diamond, it does not necessarily mean that person is experienced in the actual appraising of the diamond. When choosing a diamond appraiser, select a professional who is a member of a reputable appraisal association, such as the International Society of Appraisers (ISA). The appraiser must be knowledgeable in the current jewelry market and the Uniform Standards of Professional Appraisal Practice (USPAP) compliance. A qualified diamond appraiser will charge a flat fee, as opposed to a percentage of the value of the appraised diamond.
There are many reasons for someone to seek an appraisal on a diamond, such as liquidation, estate tax valuation and homeowner’s insurance. If you end up having to file an insurance claim or prove the value of your diamond for other purposes, the appraisal documents will be crucial. Be sure that the appraisal thoroughly and accurately describes your diamond with regard to the current standards and grading scales. It should also be in clear, concise language that you can easily understand and convey. The appraisal value could be based on retail replacement value or fair market value, but it should not be a simple restatement of the purchase price.
An honest, unbiased appraisal of your diamond benefits you and anyone legitimately involved in the buying and selling of diamonds. Choosing a diamond appraiser is an important decision. Making sure a potential appraiser is specifically qualified is the first step. A trustworthy and professional appraiser should make you feel confident in his or her ability to provide a straightforward and reliable diamond appraisal.