Valentine’s Day Jewelery Buying Tips From The American Society Of Appraisers

Jan. 21, 2010 - PRLog -- January 21, 2010

Press contact:

Lisa Schaumann
  540.687.5099/540.729.2114, or
Vicki Bendure, APR
  540.687.3360/202.374.9259                                 
   
VALENTINE’S DAY JEWELERY BUYING TIPS FROM THE AMERICAN SOCIETY OF APPRAISERS

HERNDON, Va. — The American Society of Appraisers offers suggestions to shoppers who want to make an educated jewelry purchase this Valentine’s Day.

“This is still a good time to get a bargain because of the economy, “said Nancy Stacy, an American Society of Appraisers Master Gemologist Appraiser.

The American Society of Appraisers recommends that consumers do some research on the price of precious metals before going to the jewelry store.  People can track the price of gold, silver, platinum, etc., on Web sites like Kitco.com. The price of gold is now much higher than it has been for years, and silver has more than doubled. Platinum is still a good value, but is rising now that auto manufacturers are back in production, using the metal in catalytic converters. Although metals prices have risen, they are only one part of the cost in a piece of jewelry. Gemstones and labor have not seen the same rise in costs.

“Doing some research on both the marketplace and the jeweler can make consumers feel more knowledgeable and in control during the purchase process,” said Stacy, “But if a deal seems too good to be true, it probably is.  If buying from the Internet, eBay or Craig’s List, find a seller who will agree to let you have the item verified by an independent appraiser before you are committed to the purchase—or pass.”

ASA recommends as added buying protection that people have the jeweler write a description of the piece on the receipt and put the return policy in writing as well.

If the gift is a higher value piece of jewelry, ASA suggests the following:

-   Don’t buy an expensive diamond or colored gemstone that doesn’t have a report from a major lab. Look for reports from the Gemological Institute of America (GIA), the American Gem Society (AGS) or the American Gem Trade Association lab (GTC).
-   Be cautious when buying rubies. Some “rubies” on the market are composites of low-grade ruby material and colored glass. They are attractive, but more in the nature of costume jewelry than gems, and this should be reflected in the price. Always ask the salesperson to write down what treatments have been applied to colored stones.
-   Have the jewelry independently appraised for insurance purposes as well as to have a record of the value of the piece.  Choose an appraiser who is an accredited member of a nationally recognized appraisal organization, such as the American Society of Appraisers, as well as a Graduate Gemologist of the Gemological Institute of America (GIA) or the Gemmological Association of Great Britain (FGA).
-   Ask about an appraiser’s credentials and make sure they are still active.
-   Make sure the appraisal is done for a set fee, not for a percentage of the value of the property—that’s unethical.

For more information about appraisals, or to find an accredited appraiser, visit www.appraisers.org or call (800) ASA-VALU.

About ASA
ASA is an international organization of appraisal professionals and others dedicated to the education, development and growth of the appraisal profession. ASA is the oldest and only major organization representing all disciplines of appraisal specialists, originating in 1936 and incorporating in 1952. ASA’s headquarters is in the metropolitan Washington, D.C., area. Visit the ASA Web site at www.appraisers.org.

# # #

About ASA
ASA is an international organization of appraisal professionals and others dedicated to the education, development and growth of the appraisal profession. ASA is the oldest and only major organization representing all disciplines of appraisal specialists, originating in 1936 and incorporating in 1952. ASA’s headquarters is in the metropolitan Washington, D.C., area. Visit the ASA Web site at www.appraisers.org.