Jewelry Appraisal CenterBig problem regarding appraisal value Question: Hello sir,
I bought a diamond for $2850 from eBay with a certificate from CGI with replacement value of $3000.
Illustrated Guide to Jewelry Appraising, 3rd Edition: Antique, Period, and Modern
Price: $25.07
Now, i don't understand the meaning of the word 'replacement value', but want to sell it in India as i am an Indian and currently staying in India with proper appraisal value.
Now, will i be able to sell it? If yes, what should be the correct rate according to the certificate and will a normal Jewelry store do the buying?
As I am a Kiddie in this field, I will be waiting for your answer.
Thank You
Answer: G'day Swapnadip and many thanks for your query.
You are under a very common misapprehension about what an appraisal is.
The 'Replacement Value' is the price the INSURANCE company would cover the item for, in the event of loss or theft. It has NOTHING to do with how much you can sell your item for (as there is NO FIXED PRICE for anything).
You can find my earlier article here, which will explain it better.
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You might also like to add this query to our Jewelry Forum where there are more 'Experts' to help you.
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Hope this helps. You might also take a look at our Jewelry Appraisals Online Software to see if it may help you in the value.
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Thank Very Much! for providing such a useful information about the mistake I committed at the wright time because I was going to buy more of those.
Sir, the link which you gave me was working but there were no ‘Live Chat’ operator Online or available.
Sir, I please request you to answer me about what went wrong and what should I do next, in brief.
Thank You
G’day Swapnadip and many thanks for your follow up question.
However; there is nothing more I can really add.
Read everything on the website and do a comparison shop on places like eBay or similar. At least that will give you an idea on ‘Price’ in the open market.
You might also like to add this query to my Jewelry Forum at http://www.online-jewelry-appraisals.net/jewelry-forum/ as other may have had a similar problem.
Can’t hurt anyway and who knows what answers you may get.
Hope this helps…