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About Appraisals
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When having a piece appraised it is important to keep in mind that there are several different values to be considered.
The one most used is retail replcement cost. This value is used for insurance purposes. It should reflect the price that an item would cost in an average store. It should never be the inflated regular prices some stores use to offer 50-60% off. That would only result in higher premiums on insurance.
Wholesale value is rarely used but will be explained here to eliminate confusion. Wholesale is the price that the store pays for their wares. these prices vary quite a bit depending on terms. When a jeweler buys in quantity for cash the price is usually less than if one piece is ordered in on approval.
Liquidation value is the price that would be offered by a secondary buyer and is below wholesale. There are risks in buying from the public such as stolen merchandise. The amount of discount from wholesale will also depend on demand. Used jewelery is often bought as scrap to be refined and made into new jewelry and stones often have to be recut.
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Caption 3
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