Troy Schmidt BA, FCGmA, GJ
and his daughter
Stephanie Schmidt GG(GIA), GJ
certified & accredited
gemologists
Troy studied
jewellery arts at the Gemological
Institute of America and graduated in
1984 from the Canadian Gemmological
Association. He has over 25 years experience and
also serves as a consultant to legal and
insurance companies.
Stephanie, following in her father's footsteps is a recent graduate
of the Gemmological Institute of America (GIA)
Appraisal Procedure
Each item is polished and
ultrasonically cleaned, then checked for
security and any required repairs
Each item is electronically weighed and
measured
The item
is examined for karatage and trademark
stamps and
tested for gold content
The
gems are identified with gem instruments
and gem laboratory equipment
The gems are measured and quality
graded
The item
is
photographed
The values are determined by our
appraisal system and research with
suppliers
The appraisal describing and listing the
recommended insurance value for each
item is produced.
What should I bring to the store? Bring all previous appraisals, bills of
sale and certificates. Anything that
could help the gemologist to get the most
accurate description and value.
Who can appraise jewellery? Anyone - you can - there is no licensing
requirement. Just get a fancy
letterhead.
Many insurance companies will accept any
appraisal.
If the item is appraised too high they
collect the premiums and replace at the
real cost. If the item is too low
they settle at the low insured value.
You need to get it right.
If you can't afford a gemologist or
there isn't one in your area, then at
the very least get the opinion from a
jewellery retailer who buys and sells a
lot of jewellery and has a good idea of
values. A goldsmith or watchmaker isn't a good
choice.
Doesn't an appraisal tell me what its
worth? No - what anything is worth - is
what a willing buyer will pay you for
it.
Shop around, compare prices of like
items - that's the closest you'll come
to what its worth today, in this market.
