Credentials to Look for in a Jewelry, Diamond,

Coin or Watch Appraiser

 

(Part Two of a Three Part Series)

 

                                                   

Anybody can be a personal property appraiser.  It is an unregulated industry.  For your protection an appraisal needs to be done by an independent, certified/accredited, professionally trained expert, not just somebody who says they appraise jewelry, works or owns a jewelry store, a diamond or auction house, a coin shop or watch dealer.

Look for an Accredited/Certified Independent Professional Appraiser

Your appraiser should be an expert and have the credentials to prove it.   An appraiser is a skilled professional with expertise in both the subject matter being appraised as well as thorough training in appraisal theory and methodology, ethics, market research, valuation, appraisal report writing, and ongoing continuing education courses. 

·         A diamond or jewelry appraiser needs to have gemological training.  In the United States, a Graduate Gemologist (GG) diploma earned from the Gemological Institute of America (GIA) is the most common.  In Great Britain, the designation is a Fellow of The Gemmological Association of Great Britain (FGA). 

 

Do not confuse a graduate gemologist (GG) with an appraiser.  In a nutshell, GIA does not offer courses in appraisals[1].   GIA provides training in gem identification, diamond grading and colored gemstone grading of loose gemstones.  GIA does not offer training in jewelry manufacturing techniques, appraisal theory and methodology, market research, ethics, valuation science, the Uniform Standards of Professional Appraisal Practice (USPAP) compliance or appraisal report writing. Only specific appraisal organization designations can provide any assurance of an appraiser’s qualifications.

 

·         A coin appraiser should have formal training in numismatics.  A coin appraiser should have a Numismatics Scholar diploma issued from the American Numismatic Association’s Florence School of Numismatics as well as ongoing ANA membership. A watch appraiser should have years of experience in appraising watches, be a member of the National Association of Watch and Clock Collectors as well as taking ongoing continuing education courses.

 

·         Look for a certified or accredited jewelry appraiser from a nationally recognized appraisal association such as the American Society of Appraisers (ASA), the International Society of Appraisers (ISA), or the National Association of Jewelry Appraisers (NAJA).  Look for certified or accredited members in these associations.  Certified or accredited members are required to have years of experience, undertake continuing education, pass rigorous examinations including peer review and undergo periodic reaccreditation review in order to maintain their accreditation status.  Additionally, these associations require their appraisers comply with the Uniform Standards of Professional Appraisal Practice (USPAP).  A USPAP compliant appraisal is your assurance your appraisal is written to the highest standards in the industry.

 

·         Be Wary of Inflated Titles and Improper Claims of Appraisal Certifications.  There are many organizations offering individuals impressive sounding titles such as The Diamond Council’s “Certified Diamontologist”[2] and The Jewelers of America’s “Professional Certification”[3].  These certifications are designed for retail jewelers to enhance their abilities to sell diamonds and jewelry and have nothing at all to do with appraising jewelry, coins or watches.   These organizations do not provide nationally recognized certification or accreditation appraisal designations. 

In our next blog, we will look at what a qualified appraisal is.

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[1] www.gia.edu/gia-faq-education-programs-courses-appraisal

[2] www.diamondcouncil.org

[3] www.jewelers.org/about/about-ja