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Importance of Appraisal Documentation

A detailed documentation of your treasured Jewellery or Watch is a critical piece when the item is acquired, gifted, or received. Without a detailed professional Appraisal, there would be little or no recourse in case of a loss. It is highly recommended you obtain a professional Appraisal for your valued Jewellery and Watch collection. Some details related to this topic are discussed below.

Service available in English & French

We are proud to be able to provide you with our professional gemological services in both English and French. This can be of advantage for people travelling in and out of Canada with their valuables, especially when travelling to and from Anglophone and Francophone speaking countries. When travelling abroad and returning to Canada, our dual language appraisal can help you in a smoother cross border travel, saving time, and reducing stress. Items acquired under Canadian invoices can exit and re-enter Canada without any difficulty. You may, however, be asked by a Customs agent to provide proof of purchase and/or a professional independent appraisal.

While our appraisal is an important documentation of your Canadian purchased items, it is not proof of purchase, and we recommend you keep your purchase invoices on file as a reference.

Appraisals

Guideline
A professional Appraisal is required to examine a client’s item with great care and in as much detail as his/her equipment allows. This process is arms length, and void of any influence by any party, and requires a professional gemologist to adhere to strict industry guidelines. The composition of the Appraisal ought to include a color image, and where required, several images, to capture a realistic representation of the item.

The Appraisal must be dated, and any Stock Numbers, and/or Reference Numbers must be noted. A general overview of the item has to be written up, describing the item, with as much detail as necessary. Thereafter, a more detailed analysis of precious metal, center stone, and side stones has to be done, ensuring all materials are natural in origin. If any synthetics are found, they have to be mentioned as such.

For watches, any parts discovered as non-factory must be noted as such. Stamps, Hallmarks, and Weights marked on the metal must be recorded. A detailed grading of each center and side stone, plus a count of all the stones have to be prepared with much care under the microscope and 10X loupe, and documented on a worksheet and eventually on final Appraisal documents.

The worksheet is used to calculate wholesale values of each center and side stone, including metal value as well as labour costs. The total wholesale value is then multiplied by a mark up factor. 2.5% annualized inflation is added for the period the appraisal is valid, plus Sales Tax to reach a final Appraisal Valuation. For Watches, an appraiser has to identify the reference or model number of a brand, and research the Retail Value to which Sales Taxes are added. Terms & Conditions, and Limitations that govern the appraisal services provided must be disclosed to client in writing.

SEE GJAL CONDITIONS AND LIMITATIONS

Purpose
The purpose of an Appraisal document can vary depending on who is requesting the work and for what reason. Some types of Appraisals are: Wholesale, Estate, Insurance, Fair Market, Retail Insurance Replacement, and Customs. The calculations and by extension, the total valuation of the item would vary depending on the stated purpose of the Appraisal.

Updating your appraisal documentation
GJAL prepares all its Appraisals with a validity period of 5 years. This gives our clients peace of mind that the document is good for several years, and they can insure accordingly. We highly recommend you update your old appraisals upon expiration by sending us an email copy of your old appraisal, and keep your records up to date. The new appraisal would reflect current market conditions, and the final value may vary up or down accordingly.

Appraisal Service

Certificate of Authenticity & Appraisal

Standard Item
Applies to loose Gems, Diamond Rings, and other finished jewellery that do not require extensive measurements and calculations. Gem weights required from client.

Complex Item
Applies to items where gemstone weights have to be calculated and where the item is highly complex and requires a lot of time. For special items that require extensive research and time, we will quote you on a per item basis at time of inspection of your valuables.

Watches
We request you organize all supporting documents such as invoices, lab certificates such as GIA, old appraisals, or any notes you have on the item to aid us. We will diligently verify the supporting documents and then provide our certified findings.

Lab Certificates

Lab Certificates are different from Appraisals in that they represent a detailed gemological analysis using advance lab equipment to identify, measure, grade, test, and document the results. Appraisers, who often may not have advanced testing equipment can then rely on Lab Certificates and proceed with their valuation work with confidence.

Guideline • It is important that any advance lab document the limitations of their equipments on the certificates they issue. The process ought to be strictly arms length, void of any influence. Terms & Conditions and Limitations that govern the Lab services provided must be disclosed to client in writing.

Purpose • The primary purpose of a Lab Certificate is to identify the material before the gemologist prepares the certificate, using the appropriate advance testing equipment, and his/her knowledge, to reach a logical conclusion based on what the data supports.

Lab Fees • GJAL provides Basic & Detailed Lab services, which are billed based on the level of testing required. In some cases, we may have to outsource the work to another Lab, which may require shipping and insurance. Our fees for Lab work will be based on the nature of the work required, and will be quoted in advance to you.

Lab Equipments

Professional Laboratory Gemology Equipment & Reference Library at GJAL

• Kassoy 10x-30x Stereo Microscope

• Gem Refractometer with Internal LED

• 1.81 Gem Refractometer Liquid (Diodomethan & Methelyne Iodine)

• Kassoy 6” Digital Caliper

• Pearl Guage 0-20mm

• Gemoro Platinum Pro Digital Scale 1001V

• Stainless Steel Tweezers

• 10x, 14x Power Triplet Loupe

• Gemmology Microscope

• Gold Testing Acid, 10K, 14K, 18K, 22K

• Hearts & Arrows Scope

• LW & SW Ultroviolet Lamp

• Daylight Corrected Diamond Grading Lamp

• LED Daylight Corrected Gooseneck Lamp

• Basalite Gold Testing Stone

• Gems & Gemology by GIA

• The Journal of Gemmology

• Ruby & Sapphire by Richard W. Hughes

• Miller’s Antiques Handbook & Price Guide

• Collecting & Classifying Coloured Diamonds by Stephen C. Hofer

• Jade by Cecilia Lam

• Diamonds by Eric Bruton

• Gems by Robert Webster

• Wristwatch Annual Magazine

• Gemmological Institute of America (GIA) Dictionary

• Rapaport Diamond Price Index

• Rapaport Newsletter

• Gems & Jewellery Newsletter by Gem-A

• Gems & Jewellery Appraising by Anna M.Miller

• International School of Gemmology Newsletter

Appraisal Conditions, and Limitations

THIS DOCUMENT IS INTENDED FOR INSURANCE PURPOSES ONLY UNLESS OTHERWISE STATED, BEING A REPLACEMENT COST ESTIMATE OF THE ARTICLE/ARTICLES AT FULL RETAIL PRICES IN EFFECT AT THIS DATE. THE INFORMATION RECORDED ON THIS APPRAISAL REPRESENTS OUR INTERPRETATION OF THE RESULTS OBTAINED FROM GEMOLOGICAL INSTRUMENTS AND GRADING TECHNIQUES DESIGNED FOR THIS PURPOSE. DUE TO SUBJECTIVE NATURE OF GEMOLOGICAL APPRAISALS, RESULTS MAY VARY CONSIDERABLY BETWEEN APPRAISERS. MOUNTED STONES ARE GRADED, IDENTIFIED AND APPRAISED TO THE EXTENT THAT THE SETTING PERMITS EXAMINATION. ALL WEIGHTS AND MEASUREMENTS ARE APPROXIMATE ESTIMATES, UNLESS OTHERWISE STATED. ORDINARY WEAR COMMON TO THIS TYPE OF ITEM IS NOT NOTED. IF THE ITEM IS ANTIQUE OR OUT OF STYLE, THE VALUATION IS FOR THE REPLACEMENT OF AN ITEM OF SIMILAR SIZE, TYPE AND QUALITY, NOT FOR AN EXACT DUPLICATION. ALL VALUE CONCLUSIONS ARE VALID ONLY FOR THE PURPOSE STATED. WE HAVE MADE THIS EVALUATION TO THE BEST OF OUR KNOWLEDGE AND ABILITY, BUT CAN ASSUME NO LIABILITY FOR SAME, NOT ATTRIBUTABLE TO GROSS NEGLIGENCE, FRAUD OR WILLFUL MISCONDUCT. POSSESSION OF THIS DOCUMENT DOES NOT CONFER TO THE RIGHT OF PUBLICATION. THIS REPORT MAY NOT BE USED BY ANYONE OTHER THAN THE HEREIN NAMED CLIENT WITHOUT THE WRITTEN PERMISSION OF THE APPRAISER.

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