A lady in a surrounding state contacts me regarding her selling her diamond to us. She supplies an appraisal done by a chain jewelry firm and she wants the $35,000. the appraisal states. I proceed to tell her a replacement of her diamond could be purchased at most places for about $12,000. Why does she think I would give her $35,000. Dealers can acquire at wholesale from their brokers. Most likely, dealer buyers would offer less than wholesale. Why did she go to a high retail place that does not have trained gemologists and trained appraisers on staff?

This is a hard one. The lady thinks she received a real market appraisal based on retail. She does not understand the different appraisals received based on all different circumstances. In this case her appraisal was based on how that jeweler would mark their own merchandise in their store. This ignores the fact everything in the store was 60% off just for walking through the doors. It ignores the fact the highest square footage is usually in a mall and the landlord gets a piece of the sale. It ignores the fact that most of the sales are charges and not where the cash hits the table.

My role is to point out the facts, explain the difference between value and price, give her options (cash, auction, consignment, trade, advertisement), let her think about it, even suggest she go to other sources for her to absorb what's the reality of her situation. If she likes the professional approach, she will be back.

To future sellers, research your appraisers. Get the appraisal that was for your purpose. In this case selling. What could she expect to receive?

Yes it is frustrating to provide ethical sales and stay on top. To myself, I just have to do my best and forget what other people do. To the future personnel . . . maintain your ethics! Please! You will be different and respected! We all have judgment day coming.