About a year back, but current in the sense that I just had one of these reports come across my desk and can’t verify the information or report due to closure of this laboratory. Just add this to the sum total of info on EGL.
An independent appraiser is one that is hired by and works directly with the consumer and whose only allegiance is to his or her client. Independent appraisers have no specific reason to inflate, devalue, or otherwise conveniently apply values to any of the items they appraise. In addition, independent appraisers are characteristically more thorough, competent and provide the customer with substantially more specificity and detail on their jewelry purchases. An independent appraiser only appraises and values jewelry, gemstones, diamonds and watches. He or she neither purchases, sells nor brokers these items. Neither are they employed by a jeweler, jewelry company, insurance company or any other industry related agency. Nor do they accept referral commissions from jewelers, insurance companies, auctions, or any other agencies.
This is important to the consumer because only an independent appraiser can give you an unbiased and disinterested opinion of value on your item. Insurers and judiciary authorities are well aware of abuses and insurance frauds based on inflated “appraisals” issued by jewelers, brokers or others anxious to show that their clients have received a super deal or have purchased an item well below its “actual” value in the market. A document issued by the maker of an item is not an appraisal — it is a claim of retail value and if it does not match what was actually paid, it may be deemed fraudulent.
In the context of estate and probate related appraisals, the issue of independence becomes even more critical. Courts may and frequently do reject so-called “appraisals” issued by the seller or maker of an item and order a report issued by an independent valuer.
A downloaded copy is free. All you have to do is register as a potential bidder/buyer with Heritage. I can tell you from personal experience that it’s painless. They don’t pester you with undersirable spam and don’t share your information. If you collect, this is a useful and desireable item of literature.
Caveat emptor – let the buyer beware. Diffusion treated spinel is showing up the TV shopping and GemTV type networks and, as usual, they are giving them the hard sell and hype that “really blue Spinel” is worth $____ per carat !! and that they were just lucky enough to get this stock from a contact at the Hong Kong Gem Fair etc., etc. ”
Tempted to purchase a synthetic, manufactured diamond? This professional appraiser will value it fairly for you at today’s replacement cost, but based on past history of similar trade phenomena it seems unlikely to hold its value and resale or trade may prove challenging. Here’s an interesting and informative article on the subject: