What does it take to be a jewelry appraiser?
I have great respect for anyone who partakes of the lengthy and arduous task of becoming an appraiser. Real Estate appraisers must have a college degree and then proceed through hours of additional education and many hours of practical experience and continuing education. In the United States, Real Estate appraisers are highly regulated. There is a publication known as USPAP, (Uniform Standards of Professional Appraisal Practices), which is updated every two years. A Real Estate appraiser is expected to buy this $100 + book every two years and attend a one- or two-day long class at an additional expense, every two years.
Oddly, a Personal Property appraiser, one who appraises artwork, collectables, musical instruments, Sterling silver holloware and flatware and jewelry, is not regulated in almost any state. There are no other regulations other than the suggested standards in USPAP at the back of the book for Personal Property appraisals, and those standards have little to no enforcement.
Rappaport just published an article about what it takes to become a competent appraiser. Here is a link:
Becoming a jewelry appraiser isn't difficult. Becoming an experienced & professional jewelry appraiser is. It requires understanding the retail, secondary and wholesale markets. It also requires an extensive knowledge of jewelry construction, brands, and history along with the gemology. It also requires comprehensive knowledge of appraisal theory and local, state, and federal laws regarding appraisal practices, taxation and donations.
When I first started appraising, I was able to use the master diamond set and equipment from the jewelry store I worked for. When I became an independent appraiser, I had to acquire all the equipment and master diamonds along with all the subscriptions for price lists and industry publications. With the advent of lab grown diamonds, the equipment to detect them is quite expensive. As an independent appraiser you also need insurance, security and a TL rated safe and you need to attend continuing education and practical seminars to keep pace with the industry.
In summary, if you need an appraisal for a personal property item, do your research and find an appraiser who is properly credentialed and will provide you with a proper legal document, (usually at least 5 pages long) with all the exacting descriptive and legal information you need for the function and purpose of the appraisal.
To check the availability of a qualified appraiser, go to websites such as the American Society of Appraisers, ASA, and the National Association of Jewelry Appraisers, NAJA. Check with your insurance agent to see what qualifications an appraiser needs to have so their underwriters will write a policy for your items.
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