While I am very careful to source my precious metals only from SCS® certified suppliers (SCS® stands for Supply Chain Sustainability; they are the global leader in the field of sustainability standards and third-party certification). Most of my precious metals suppliers are also members of the Responsible Jewellery Council. However, I want to point out that ‘recycling gold' is not what is commonly understood by the term.
True recycling avoids things ending up in landfills. Gold, of course, wouldn’t.
Instead, gold is simply melted, refined and repurposed.
Although SCS® certified refineries must maintain auditable records of their suppliers, there are loopholes globally which make it very easy for gold from unregulated and/or illegal sources to enter their supply chain.
This makes even 'certified recycled' gold untraceable.
A jewellery appraisal is a written professional opinion of the authenticity, quality, design and approximate value of a piece of jewellery. It is used for retail replacement, probate or estate. Appraisals are independently and impartially prepared by a qualified appraiser. They set forth an opinion of defined value, as of a specific date, supported by the presentation and analysis of relevant market information. Since it is an “informed, professional opinion”, there can be variations between appraisals – even more so depending on its purpose.
Types of Appraisals
If you need an appraisal for your insurance company, this is called an appraisal for Retail Replacement Value. This is the most common type. It determines how much it would cost to have the same piece purchased or re-created locally.
Less common (and generally quite a bit lower) is a Fair Market Value appraisal for a legal settlement, probate, taxation, or charitable donations: the maximum price this piece could be sold for in an open market. In Canada, Fair Market Value is a legal term defined by Revenue Canada. It should be noted that most jewellery is very difficult to sell, unless it is an antique.
What is a Certified Appraisal Professional–CJA® (CAP)?
The appraiser requires a wide spectrum of knowledge, education, skills, tools and resources. The Canadian Jewellers Association (CJA) has established a set of requirements and a series of practical and theoretical examinations that test the appraising skills of jewellers and gemmologists.
My gemmologist and diamond buyer is a GIA Graduate Gemmologist and Fellow of the Canadian Gemmological Association. She holds the designation of Canadian Accredited Jewellery Appraiser with the Canadian Jewellers’ Association; one of only 35 appraisers in Canada with this recognition.
What to expect
Once you drop your pieces with me, your appraisal will go into a queue. As there may be others ahead of you, you should expect up to two weeks for it to be completed.
With fluctuating gold prices, appraisals for insurance purposes should be renewed every 3-5 years. Up-to-date, professional appraisals will help to avoid being under- or over insured in the event of a claim.
