Bad Appraising Lands Good Jeweler in Court

"Intended use" is the linchpin of any appraisal. To perform an appraisal properly, you must know what it's for and include the reason on the report itself. Why is the issue of intended use so important? The story behind a recent trial in Florida provides a dramatic answer. In July 1993, Manuel Marcial, president of Key West, Fla.-based Emeralds International, showed an emerald-and-diamond ring to a vacationing couple, Meredith Gorman and Steven Zinn of Sarasota, Fla. The jeweler told the couple that the emerald, a 1.7-ct. pear shape, was from the Chivor mine, one of the more important mines in Colombia. The ring was priced at $6,900, and the couple needed more time to decide. Marcial gave them a business card on which he'd written the information about the ring. Zinn contacted Marcial on Aug. 28, 1993, and made a $1,000 deposit on the ring. He paid the final installment on Dec. 5, 19

This content is exclusive to JCK Pro subscribers. Subscribe now to access this and much more with discount code GOPRO21 for $199 for an entire year of access (reg. $249).


Already a JCK Pro? Log in

A JCK Pro subscription is your all-access pass to people and resources on the
cutting edge of the retail jewelry industry, from the industry authority you
know and trust

Learn about the Perks of JCK Pro

Log Out

Are you sure you want to log out?

CancelLog out