Jeweler Sued in Appraisal Dispute

A Kentucky jeweler is being sued over allegations that a 42-carat necklace was not properly priced, according to a report in the Louisville Courier Journal.

 

According to the report, Jim Jackson, owner of Aesthetics in Jewelry in Louisville, sold client Robinson S. Brown Jr. a necklace with 42 carats of emeralds and 300 diamonds, along with a pair of matching earrings, in March 2005 for $800,000. Jackson reportedly paid $500,000 for it. 

 

However, when Brown died, and his sons claim they tried to sell it, they were offered a fraction of its value, the report said. They now charge his mark-up was “excessive.”

The two sides’ expert witnesses now value the necklace differently.

 

Jackson’s lawyer, Sandra McLaughlin, reportedly said that the two sons “just think Jimmy made too much money.”

 

Jackson called the lawsuit “devastating” and notes the Better Business Bureau has given his business an “A” rating.