For everyone's protection, be sure the appraisals you're reviewing are accurate and up-to-date. The following tips will help you ensure that is the case:
- Be sure the appraisal date is not older than three years. Values on gold, labor, and gemstones change often and need to revalued frequently.
- Make sure your appraiser is certified. A one can sell a diamond and anyone can write appraisal. Be sure your client has a signature from a reputable appraiser on the valuation statement.
- Look for precise descriptions of the cut, color, clarity and carat weight of the gemstones. The sign, carat, and weight of the gold or platinum mounting should also be included.
- Understand which valuation method is used. There are 3 different kinds of valuation . Confusing one type of value for another can result in serious trouble for you or your client.