Appraiser Vickie Adams tells us when a gems & jewelry expert witness is needed and describes the process:
Marriage or business dissolution looks to an appraisal for equitable division.
Civil and criminal litigation requires an independent appraisal to report the dollar value of damage.
Appraisals may support litigation, help resolve disputes, estimate loss when damage occurs, and explain the value of a property in exchange. Property seizure, probate, and estate planning are other reasons for an appraisal.
Through research, the appraisal process generally develops in three stages:
First, identification of the property
1. Interpretation of the hallmarks, trademarks, backstamps and signatures 2. Recording of the metal fineness marks, model numbers and serial numbers 3. Identification of materials, construction techniques and craftsmanship
Next, evaluation of the property
1. Observation and/or tested using instruments 2. Notation of measurements, weights, quality and condition 3. Consideration of style, aesthetic appeal and form
Finally, valuation of the property
1. Research sales in the marketplace 2. Adjustment of sales data for dissimilarities to the item appraised 3. Form an opinion of value from the adjusted comparable sales
For more see http://www.adamsappraisers.com/