Watches: Have you ever been curious about the value of your watch? Perhaps it’s a gold pocket watch that has been passed down through your family for generations or a steel wristwatch that you bought from a second hand market. It is not always precious metals that define the value of a watch, in fact, an increase in market shares of base metals can increase these materials’ value.
Our experts understand the value of watches which have been passed down as family heirlooms and are familiar with the worth of brands such as Rolex, Omega, Tag Heuer, Rado, Gucci, Casio, and Seiko’s. However if you are looking to value your Kermit the Frog watch, we have specialists who can value these as well. Most collectors of watches look to value their collection as a whole, but we would advise on securing individual values.
Jewelry: A diamond certificate (aka diamond grading report) is much like the title of a car. Just as a car title contains information such as the VIN number, year, make, and model of a car, the diamond certificate contains specific information pertaining to a specific diamond. This information will include specifications such as measurements, carat weight, color, clarity, and internal characteristics of the diamond (inclusions or imperfections). It also confirms that the stone is in fact a diamond and not some other material, and whether the diamond has undergone any color or clarity enhancements such as irradiation or laser drilling/fracture filling. This certification is performed in a gemological laboratory by a Graduate Gemologist (G.G.) under 10x magnifications.
Diamond Certifications: There are a variety of different grading laboratories in the world that issue diamond certifications. Just like different brands of cars, some labs are more reliable and reputable than others. The Gemological Institute of America (GIA) is the most respected lab because of their strict standards and consistency. Most of the world’s “Graduate Gemologists” are trained at GIA. Among other reputable labs that you may encounter as you visit local jewelers or online jewelry websites are the American Gem Society (AGS) and the European Gemological Laboratory of the United States of America (EGL USA). One important thing to keep in mind is that a reputable diamond certification will never list a cash value.
Diamond Appraisals: An appraisal, on the other hand, is an estimate of a diamond’s current monetary value. The value is determined based on the quality of the stone, and the current market conditions. The diamond certificate, however, is often used to determine the value of a stone when doing an appraisal.
Although appraisals can change over time and need to be updated periodically for changes in market value, certificates will always be the same.
Estate: Estate appraisals are usually of residential contents for the purpose of estate tax or equitable division of assets. Residential contents or personal property may include antiques, decorative and fine arts, silver, jewelry and household furnishings.
The estate appraisal will list a detailed written description of the items including country of origin if known, age, material, maker marks and any edition numbers and/or model numbers that are available. Dimensions of all items are documented. Measurements and weights of precious metals with calibrations for precious stones are submitted.
We then use the market comparison approach which analyzes recent sales records of comparable articles at major international and regional fine art auctions, trade shows and exhibitions, as well as prevailing prices at retail stores, web stores and galleries where the article may normally be traded. Adjustments are then made for each article which considers age, condition, rarity, artistic merit, technical workmanship, current trends and availability of an article as compared to such recent sales.
The estimate on an estate appraisal is Fair Market Value. Fair Market Value: is the price that property would sell for on the open market. It is the price that would be agreed on between a willing buyer and a willing seller, with neither being required to act, nor having reasonable knowledge of the relevant facts.
Laser Inscription: An important tool in reducing the likelihood of the above scenario, since the inscription can be confirmed before and after the diamond is left with the jeweler. While this is true, there are other ways, some more reliable, for accomplishing the same goal.
First, keep in mind that inscriptions are not foolproof. They are easily altered or removed. Second, customers should understand there is no tracking system for diamonds; it is not like the VIN number on a car. While the presence of an inscription might make a recovered diamond easier to identify, it does not offer much assistance in the actual recovery process.
Instead of relying on laser inscriptions to secure a diamond, owners of certified diamonds should do the following:
Keep your original certification with you at all times. Never leave it with a third party. Instead, if necessary, give them a copy. The certificate is your documentation of three especially critical elements: the carat weight, dimensions, and position and nature of inclusions.
When considered together, a diamond’s weight, along with the length and width in millimeters make for a near unique combination. When you add to it the knowledge of the type and location of the most prominent inclusions, you have a set of identifiers that is both unique and unalterable.
An example is when dropping off a diamond, always get a receipt that notes the weight, shape, dimensions, inscription (if present), and a simple map of at least one key identifying inclusion. Then, when picking up the diamond, confirm that it matches each of the noted criteria.
Following the steps above will not only make it impossible for a third party to switch your diamond, it will completely eliminate any desire to try. While diamond switching is very rare, when it does happen, the victim tends to fit a certain profile; unaware of the specific details regarding their diamond, unconcerned about proper documentation, and a careless attitude toward the entire process. By being diligent about documentation, you send a clear signal that you are not an ideal candidate. Instead of allowing you to catch a crime in process, the primary benefit of the documentation is that it eliminates any temptation to commit the crime at all.
