Appraising For Consumer Resale

[EDITOR’S NOTE: This is the first of a two-part column on appraising for consumer resale. Part 1 covers the basics; Part 2 in a future issue will fill in critical and often overlooked areas. Together, the two parts will complete a set of general Q&As on the four types of appraisal-related reports typically requested of jewelers (see “Price vs. Value with Point-of-Sale Appraisals,” JCK September 1994; “Conflict of Interest/Bias with Point-of-Sale Appraisals,” JCK, November 1994; and “Appraisal for Confirmation of Fair Purchase Price,” JCK, December 1994).] You advertise professional appraisal services; you also advertise that you buy “estate” jewelry. A gentleman comes in and asks to see the appraiser about a fine jewelry appraisal. The potential client indicates he is in a temporary financial bind and would like your opinion on the “resale value” of so

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