appraisals
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05-20-2014, 08:07 PM,
#1
appraisals
I know that most appraisals artificially inflate the value of jewelry. Ideally you want it to be realistic for insurance purposes. But why in the world would you be given an appraisal based on what you paid during a sale, and not the items stated worth in the store?

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05-20-2014, 08:22 PM,
#2
RE: appraisals
Hmm that is odd especially if it's from a store.

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05-20-2014, 08:25 PM,
#3
RE: appraisals
Yeah, I don't get it. Huh

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05-20-2014, 09:17 PM,
#4
RE: appraisals
Because the listed price was likely inflated??? The appraisal should be for replacement value. Maybe the price paid is actually the cost of replacement. I would assume it is, as they would not sell it below that right?

Joseph Schubach Jewelers
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05-21-2014, 12:01 AM,
#5
RE: appraisals
The appraised jewellery i have from mall stores and custom pieces from DK all have higher stated values than what was paid for them. I always assumed it was because the vendor wanted you to feel like you got a good deal or something.

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05-21-2014, 06:17 AM,
#6
RE: appraisals
This was underpriced by all estimations. That's why I'm confused. I took it elsewhere and they told me what they would sell it for (not what they'd pay me for it, mind you) and it was certainly higher.

It was an estate piece and I got a discount off the already very fair price. I can list stats to see what you all think. It is also the one I was told was accidentally let through being underpriced because of the backlog.

I've been shopping with them for almost 20 years and they've (she's) never said that before. I definitely believe them...so why the low appraisal. Is it so it matches their records? Because if that's a "thing" that would make sense.

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05-21-2014, 06:42 AM,
#7
RE: appraisals
Hmmm that is super weird! I am curious to know too! I don't think I could be much of help with pricing, but perhaps some over on PS could help?

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05-21-2014, 09:07 AM,
#8
RE: appraisals
I don't think their records would need to match. I would just ask them for a new appraisal to reflect replacement value, for insurance purposes.

Joseph Schubach Jewelers
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05-21-2014, 10:44 AM,
#9
RE: appraisals
Hmmmm. I just called and was told they send out for an independent appraisal. He said it was possible that something went wrong. However now I'm a little uncomfortable and wondering if I am getting played somehow. I do trust the person I worked with, but this is very confusing.

To give a context, I love the piece, but not if I overpaid. Conveniently, the appraisal showed up yesterday and today is the last day I could return it. Confused

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05-21-2014, 10:52 AM,
#10
RE: appraisals
Did it appraise less than you paid? If not, I am not sure why you would think you over paid.... Maybe you did not get the deal you thought you got, but if it appraised for what you paid I think it is all good. Most places give appraisals with purchase that they do in house, and they are almost always inflated... so you feel like you got a deal. You really just need the appraisal to reflect what it would cost to replace at current market value, or you will be paying premiums that the insurance company would likely never pay out on. An independent appraisal is more accurate, imo, and I would prefer it personally.

Joseph Schubach Jewelers
please email jenniferc@schubach.com for quotes and inquiries
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