The Importance of the Worksheet

Part 4 of the mini-course
"How to Value Your Jewelry
at Home or Work"

© by David Foard F.G.A.A.; all rights reserved

Let's have a quick reminder about our last session, Your Personal Valuation Equipment. We mentioned profit levels used in the high risk - high cost jewelry business. It's hard to imagine the value of stock in just ONE jewelry window or showcase. No wonder they need a high percentage return on their money. You would too, right?

We also covered briefly:

• The all-important 10x eyeglass.
  
• How to build an inexpensive valuation kit at home.
  
• Why we MUST have certain information before we start.

One absolute essential for this task is linked to the last item mentioned above. We need BOTH information and structure in order to put all the pieces together.

The only way we can address that is with a Valuation Appraisal Worksheet.

So here's what can we expect in today's tutorial:

• Where to get a Valuation Worksheet.
  
• What all the columns and sections mean.
  
• How to fill in the blanks before we calculate.

As indicated in an earlier lesson, we are going to do a 'hands-on' valuation from start to finish.

But as I want all of you doing this mini-course to follow along with the same information, I have prepared a Blank Worksheet for you at the Jewelry Valuation Appraisal Center website. I wish I had one like this when I started in the trade 30 years ago - it's so simple. Just print as many copies as you need. One or two is enough for now, though.

Click here to get the worksheet.

I suggest you adjust your printer to fit (use your print preview function). Later we will access my personal updated and handwritten worksheets as we progress through our example.

As important as the worksheet is, you will never see one in the online 'Jewelry Valuation Self Appraisal Kit' - but it is there, just hidden behind the forms. As we progress you will see the connection between the two.

You'll find the address at the end of this article, and hopefully understand why it's a better way.

Come back to this lesson once you have printed your worksheet copy.

Okay, let's go through our worksheet before going any further. It looks complicated but it's not, honest.

Most of the headings are self explanatory but it is worth mentioning that each worksheet is for ONE jewelry item only. If you need more descriptions you can staple a second copy to it and add notes to the back.

By dating the worksheet and giving it a special ID number at the top, you won't get lost later on when you have hundreds of these in a file (wish...)!

HINT: If you printed more than one copy, scribble practice on one, but keep the other blank as we are going to fill it in together throughout this course.

At the top we have a general description. It is common practice in the trade to start with gemstones if they are present, like: Diamond Bracelet, or Ruby Dress Ring. Don't worry if your item is without gems, as descriptions like 14ct wedding band or Gold Bangle serve equally well.

TIP: If you were working in the trade you would NOT put Ruby Dress Ring or Gold Bangle down because you have not tested for that yet. You don't know at this 'take-in' stage if it is gold or not. Or whether the 'Ruby' might be red glass.

On the worksheet you'll see beneath, a small section which does not have a specific price column, although if an item is ticked as 'Worn' for example, the valuer would downgrade the final price by a percentage.

The other items, like Style (i.e. Cluster or Solitaire or Vintage) are just for description. If the item has a hallmark, record it here. The approximate age goes in the Circa column. It is important to note that unlike a simple mark (18ct or 14K) if the item had a visible FULL UK Hallmark you would record the details of that too, as it would INCREASE the final valuation by a percentage.

The Specials section is for comments on Antique, or Reproduction, or made in Asia items. The 'Add-ons' are for things like Safety Chains, Engraved marks or features worthy of note. We'll show you what to look for as we progress.

All of the items in the worksheet are duplicated one way or another in the 'Online Jewelry Valuation Self Appraisal Kit'. In fact, the 'Kit' hones down on some of these categories and makes subtle adjustments to the final price.

You'll find the address at the end of this article. It's almost as if it's thinking.

As we work through our example, I will show my answers to these sections and explain why I filled them in. Make your answers short but descriptive as we want to be able to tell two similar pieces apart. You will need to record the length of a chain, or the width of a bracelet here too. I also write down the clasp size and style in these sections.

This top section can be useful for any comments or special features your jewelry has. Unlike the other areas below, which just record weights and measurements and money, the top area (plus the back for extra notes) is the most subjective.

In the next issue of this mini-course, I'll show you a photo of the very item we are all going to value together. It will incorporate all of the sections in our worksheet and help us understand why we do things - and the effect it has on the final price. The item is a Sapphire and Diamond Ring.

If you're ready, you can go on to Part 5 of this mini-course, It's All About Gold and Precious Metals - in which we'll view detailed photos of the Sapphire and Diamond Ring together, learn how to calculate the base gold value of ANY item, why exchange rates affect people OUTSIDE the USA, and the importance of your coins. Yes - "COINS".

P.S. You can always get a Valuation Appraisal done quickly and easily with minimum effort by going to the Valuation Appraisal Centre at the address listed below and print your Certificate at home or work.

You'll find the address at the end of this article, where there are hundreds of tips not found anywhere else.

Author David Foard, a Fellow of the Gemological Association of Australia (F.G.A.A.) and former member of The Valuers Council (JATVC), is retired ("Ha..." he laughs). He is working harder now than at any time in his life, especially over the 30 years he spent in the Antique Jewelry Trade as a qualified gemologist and member of the Valuers Council. Now he concentrates on the "three R's" of Readin', Ritin', and Re-ritin' articles, courses and free report newsletters at his Online Jewelry Appraisal Center website.

David says, "All of the calculations and procedures done throughout this series of articles are built into our Online Jewelry Valuation Self Appraisal Kit, which does all the work for you. Why? So you don't have to. Simple...

"If you are really serious about getting a jewelry valuation appraisal done quickly and easily, then go to our Online Jewelry Valuation Self Appraisal Kit to value your own jewelry and reproduce a certificate on your own printer at home or work. Couldn't be any easier.

"Our online jewelry valuation self appraisal kit uses behind-the-scenes calculations that work with your answers to a set of multiple choice questions to derive exactly 'What's it worth'. Easy, eh? We use this system ourselves.

"Regards, and please watch the road."

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