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The 5 W’s of Jewelry Appraisals

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WHO…

Who should you consult for jewelry appraisal services? While real estate appraisers are required to be licensed, personal property (including jewelry) appraisers do not. That means anyone, regardless of education, experience and credentials, can represent themselves as a “jewelry appraiser.” Consequently, this puts you at risk. Look for a MINIMUM of a GIA Graduate Gemologist. Above all, your appraiser should also be associated and credentialed through an industry organization like the International Society of Appraisers or the American Society of Appraisers.

WHAT…

Any jewelry that exceeds your standard jewelry coverage on your homeowner’s policy should be appraised. The appraisal can be submitted and used to schedule your higher value items. If you carry blanket coverage, it is still wise to have your collection appraised. Your appraisal will serve as an accurate inventory in case of a loss.

WHERE…

While you can find appraisal services at a jewelry store, jewelers are often compromised by their own self-interest. Seek out an independent appraiser who operates with your best interest in mind. An independent appraiser has no bias or motivation and can offer the most accurate and concise appraisal report.

WHEN…

In order to stay up to date with the market, update your appraisals every 3-5 years. If you purchase a new home and therefore, a new insurance policy, you may need an appraisal that is less than 2 years old. Consult with your insurance agent or broker and appraiser for advice on updates.

WHY…

Your appraisal protects you. It helps define your insurance policy coverage and assures a comparable replacement in the event of a loss. Your appraisal assists in dividing the family owned jewels in a fair process. Your appraisal defines “fair market value” in the event of a divorce. Financial planners, trusts and estates all rely on a professional appraisal to support your financial goals.

Your appraisal is an essential document with information to help protect you, specific to your situation.

Your appraisal is your peace of mind.

The 5 Ws of Jewelry Appraisal - Kahle Appraisals

Filed Under: Blog

Marcus & Co. Sweet Pea Brooch

I recently returned from a trip to New York City that included an afternoon visit to the New York Metropolitan Museum of Art. The special exhibit, Jewelry – The Body Transformed, was of particular interest to me for two reasons. As a Graduate Gemologist and Jewelry Appraiser, the subject of this exhibit is my passion. But most importantly, it was particularly satisfying to me to view the exquisite “Sweet Pea” brooch.

Marcus & Co.

The “Sweet Pea” brooch was crafted by the hands of a father and sons’ team, Marcus & Sons, circa 1900, and is one of the most complicated forms of jewelry made, even in today’s standards. Founded by Herman Marcus, a German immigrant to the U.S. in 1850, he worked for the venerable Tiffany & Co., eventually striking out on his own. His sons joined him in creating some of the most ornate Art Nouveau and Revivalist jewelry of their period.

The enamel work on this brooch is called “pliqué -a-jour”, a French term meaning open to light. The leaves and flowers are much like a miniature stained-glass window in an 18 karat yellow gold frame. This enameling technique is complicated on flat surfaces, so the three-dimensional form of this piece proves to be an extraordinary work of art. There are four articulated sections allowing the flowers and buds to flutter as the wearer moves. The buds that drop at the bottom consist of four conch pearls. Unlike the more common oyster pearl, conch pearls are produced by the rare Queen Conch mollusk. Only 1 in 10,000 mollusks hold a conch pearl. The leaves are adorned in platinum with diamonds set on a curve to create dimension and shimmer throughout.

One-of-a-Kind

The “Sweet Pea” brooch came across my desk in 2015. The owner had inherited the brooch many years prior and had kept it in its original box in safe keeping. It was in excellent condition for a century-old piece. Many pliqué-a-jour pieces have cracked and broken enamel, but this one showed none. The owner wished to sell the brooch to augment his impending retirement. After a less-than-pleasant experience at a “we buy gold” store, where the owner was offered $2,500, he decided to look for a second opinion. A referral from a trusted friend led him to call me and we met.

At first sight, I knew that this brooch was one-of-a-kind and of extraordinary design and quality. The trademark stamp “Marcus & Co.” indicated the maker. I immediately called a longtime friend and colleague on the east coast, Virginia Salem, and Director of the Fine Jewelry Department at Freemans Auction house. The owner of the brooch agreed to consign to the auction house, and the brooch made its way back east. Ms. Salem had seen other pieces by Marcus & Co. come across her desk, but this was one of the finest examples yet. With her knowledge and connections to dealers and collectors, she visited NYC to personally present the brooch to interested parties.

The Market Speaks

Eventually, the hammer fell at $161,000, far above the pathetic offer of $2500. The owner was thrilled. But there is more to the story. The winning bidder donated the “Sweet Pea” brooch to the New York Metropolitan Museum of Art. Now in its new home, thousands of visitors will be able to view an exquisite brooch they may well had never enjoyed the opportunity to see. Knowing I was able to facilitate in the journey of such important history in jewelry is deeply satisfying and is an experience that I will never be forget.

Tracey Kahle is a Certified Appraiser of Personal Property and GIA Graduate Gemologist, offering by-appointment jewelry appraisal services. She can be reached at 913-912-9122 or tracey@kahleappraisals.com.

Filed Under: Blog

Why did I pay so much, and when I consider selling my jewelry, I can expect only fraction of the price I paid? I thought diamonds were valuable…

First of all, to understand the value of jewelry in the retail market, it’s important to consider the source. Or should I say sources? That shiny object sitting in the locked case under perfect lighting in the jewelry store has been on quite a journey. And that journey involves many people who are just like you and me with families and a community they live in and support.

Gemstone and Gold Mining

selling my jewelryThe journey begins with precious metals and diamond and gemstone miners. They explore, establish and operate mines from large and sophisticated to small and basic. Hundreds of millions of dollars are spent exploring for the right location to set up a mining operation. And thousands of workers are involved, from the construction of the setup to the actual mining operation itself.

The materials are sorted or refined after mining. Again, by people working daily.

Diamond Cutting

Diamond and gemstone cutters traditionally come from generations of family. Cutting skills are passed from generation to generation and taken very seriously. The cutting procedure is precise and takes hours for just one gemstone to become fully polished. Tools and equipment have evolved over time, making the process more exact. For that reason, as with all technological advances in tooling, a greater cost is shouldered to stay up-to-date.

Jewelry Design

Jewelry designJewelry designers bring these materials together in the wearable pieces of art that we call jewelry. While traditional wax carving of prototypes are still sometimes used, today the majority of jewelry is designed with CAD – computer aided design. These computer programs cost thousands, and the designers who use them also spend thousands of dollars in training. Designing one piece of jewelry can take hours or even days. The designer makes a prototype before a piece of jewelry is produced in multiples and then completes detailed modifications. Finally, a model is made for casting once the design is approved.

Goldsmithing

bench jewelerCasting a piece of jewelry requires sophisticated equipment. Some design studios have their own casting equipment onsite. But the majority of casting jewelry is done in large operations, similar to auto manufacturing, where focusing on one step is most efficient.

Finishing is next. Finishing a rough casting involves multiple steps. The goldsmith completes an initial polishing by hand on the bench. The goldsmith then applies a final polish with a fine rouge on a stand-alone polishing machine. Special finishes, such as brushed, hammered, and Florentine are the last step.

Diamond Setting

diamond setterDiamond and gemstone setting requires a skilled goldsmith. In large manufacturing settings, much like auto manufacturing, diamond and gemstone setters do only setting. In small shops and studios, goldsmiths handle all steps of casting, finishing, and stone setting. Indeed, the risk is relatively high for damage during the setting process. Although not often, a diamond or gemstone can chip or break during the setting procedure.

Wholesale Distribution

diamond sorterWholesale distribution involves many people and sometimes two to three levels of wholesale. Decades ago, wholesalers carried hundreds of pieces of jewelry in large rolling bags, traveling hundreds of miles going door to door selling to retailers. Robbery was a real threat, and today very few wholesalers take this risk. Instead, several times during the year wholesalers show their collections at jewelry and gem shows. The risk of traveling with their goods is still there and security for these vendor shows is very tight.

Retail Jeweler

Jewelry salespersonThe final destination before your jewelry is yours is the retailer. The jewelry retailer invests in an inventory offering a range of styles and prices. Other costs for the retail jeweler include security systems, vaults, gemological equipment, payroll, insurance, and light bills. The sales staff require training to help them understand and relay important information to the shopper.

Selling Your Jewelry

Hence, a small army of specialists make a living bringing those works of art to you. When selling your jewelry, the value is in the materials in the piece. You will not recoup the cost of the “artistry.” So, enjoy the artistry and know that you have contributed to the support of many families.

Filed Under: Blog

Tracey Kahle, GIA GG, ISA CAPP
Tracey Kahle, GIA GG, ISA CAPP

Tracey Kahle, GIA Graduate Gemologist and ISA Certified Appraiser of Personal Property (CAPP) has successfully requalified for her ISA CAPP designation. The International Society of Appraisers (ISA) granted the renewal following her completion of their rigorous review process.

The Standard of Excellence

All ISA members must renew their professional appraisal credentials every five years. To maintain this status, candidates pass an examination covering updated appraising methods and report writing. They also submit documentation showing they have earned the required points for professional development activities, such as continuing education in their field.

For personal property appraisers dedicated to excellence, maintaining these credentials is essential. Earning the ISA CAPP designation represents a major professional milestone. When you see the ISA logo, you can feel confident you are working with an expert committed to the highest standards of accuracy, competency, and integrity.

About the ISA

Founded in 1979, the International Society of Appraisers (ISA) supports 1,000 members across the United States, Canada, and abroad. The ISA is the US’s largest organization of personal property appraisers, providing the industry’s leading education, certification, and advocacy.

Filed Under: Blog

Be aware of these 5 jewelry appraisal myths:

  1. Myth – All Jewelry Appraisers are the same.

Fact – Unlike Real Estate Appraisers, Jewelry Appraisers are not required to be licensed. Look for an Appraiser who is a GIA Graduate Gemologist and has been credentialed through an Appraisal Organization, i.e, International Association of Appraisers, American Society of Appraisers, or National Association of Jewelry Appraisers. These organizations offer education in Appraisal Theory and Methodology, require formal education related to the specialty practiced, and review the work conducted by the appraiser.

 

  1. Myth – By-appointment appraisal services are expensive.

Fact – Kahle Appraisals’ service fees are competitive with jewelry stores who offer the service. Service fees with large jobs (15+ items) are even more affordable, often averaging $35-$55 per item.

 

  1. Myth – Jewelry increases consistently in value.

Fact – All precious metal, gemstone, diamond, and pearl markets move independently of one another; and sometimes decrease in value.

 

  1. Myth – Automatic inflation bumps on insurance policies eliminate the need to update jewelry appraisals.

Fact –Advise your client to update the appraisals of their collection at least every 5 years. This prevents duplicates, catches condition issues, discovers newly acquired items that are not yet covered, removes items the client may have sold or handed down to a family member. It also accounts for any extraordinary changes in market values.

 

  1. Myth – Motivating my client to get their jewelry appraised is a pain.

Fact – It’s as easy as a-b-c:

  1. Connect your client with Tracey Kahle in a shared email.
  2. Tracey follows up with client to schedule appraisal appointment and handles any details or questions.
  3. Upon completion, Tracey immediately emails the new appraisal to you.

Filed Under: Blog

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Kahle Appraisals

13451 Briar Drive, Suite 200
Leawood, KS 66209
Phone: (913) 912-9122
Email: tracey@kahleappraisals.com

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