WEBVTT 1 00:00:18.559 --> 00:00:22.280 Welcome to Fearless Fabulous You. I am your host, Melanie Young, 2 00:00:22.679 --> 00:00:26.120 and I like to empower women like you to make 3 00:00:26.160 --> 00:00:30.440 confident choices about how they choose to live and how 4 00:00:30.480 --> 00:00:33.039 they choose to take care of themselves and their loved ones. 5 00:00:33.719 --> 00:00:37.079 And we're going to talk about something that's topical for 6 00:00:37.119 --> 00:00:40.280 so many reasons and something many of us don't think about, 7 00:00:40.320 --> 00:00:42.799 which is protecting your valuables. We know how we want 8 00:00:42.840 --> 00:00:44.799 to protect our health and our loved ones, but what 9 00:00:44.840 --> 00:00:48.119 about your possessions and your valuables. And why this comes 10 00:00:48.119 --> 00:00:50.560 to light so much now is that my heart simply 11 00:00:50.640 --> 00:00:53.439 breaks when I hear the stories about the so many 12 00:00:53.520 --> 00:00:57.960 people who have lost everything in the California wildf fires, 13 00:00:58.000 --> 00:01:00.600 including family photos and memento. I was, in fact, the 14 00:01:00.600 --> 00:01:03.560 most number one thing they talk about is losing photos 15 00:01:03.560 --> 00:01:07.680 and important family mementos. There are also personal effects and 16 00:01:07.920 --> 00:01:11.560 of course valuable things like art and jewelry and your silver, 17 00:01:12.120 --> 00:01:18.040 and things that are often not replaceable or could be replaceable, 18 00:01:18.120 --> 00:01:22.079 but you may not have the proper documentation in place 19 00:01:22.799 --> 00:01:25.760 to make that happen. So I live in New Orleans. 20 00:01:25.840 --> 00:01:30.040 It's a high hurricane zone, and I moved here in 21 00:01:30.120 --> 00:01:32.959 twenty twenty four. Before that, I lived in New York 22 00:01:33.000 --> 00:01:37.319 City and had two apartments, both of which were burglarized. 23 00:01:38.480 --> 00:01:40.640 I actually tell people I became an official New Yorker 24 00:01:40.680 --> 00:01:43.480 when I was burglarized burglarized, and I learned to have 25 00:01:43.560 --> 00:01:46.159 like six locks on my door. What I learned from 26 00:01:46.159 --> 00:01:49.239 the experience when I had Renter's insurance, because I'm big 27 00:01:49.319 --> 00:01:51.879 on getting everything insured, is that I was not sufficiently 28 00:01:52.200 --> 00:01:56.079 insured for my grandmother's jewelry, which I inherited, which broke 29 00:01:56.120 --> 00:01:59.640 my heart because I learned from the experience that I 30 00:01:59.719 --> 00:02:05.760 had not had a jewelry schedule which would have enabled 31 00:02:05.760 --> 00:02:09.919 me to claim my insurance properly. And that really stung 32 00:02:10.080 --> 00:02:11.919 and it stay with me for the rest of my 33 00:02:12.000 --> 00:02:15.599 life and wherever I've lived. Whenever I have acquired a 34 00:02:15.639 --> 00:02:17.400 piece of jewelry, the first thing I do is I 35 00:02:17.439 --> 00:02:19.520 would get into a praiser to make sure I had 36 00:02:19.560 --> 00:02:23.039 all the necessary documentation. The sad thing about the wildfires 37 00:02:23.280 --> 00:02:26.680 is everybody lost everything, including their documentation. And I read 38 00:02:26.759 --> 00:02:30.400 and heard that if your items are in a bank 39 00:02:30.520 --> 00:02:34.520 vault and a safe, it doesn't mean they're covered by 40 00:02:34.520 --> 00:02:38.039 the FDIC. Cringe because I used to keep all my 41 00:02:38.280 --> 00:02:41.439 jewelry in a safety deposit box thinking that that was 42 00:02:41.560 --> 00:02:45.080 okay and I could take it off my insurance. It's complicated, 43 00:02:45.159 --> 00:02:48.080 and boy, the insurance companies are making even more so. 44 00:02:48.599 --> 00:02:52.599 But here's the thing. If you love and value something, 45 00:02:53.680 --> 00:03:03.080 protect it, keep documentation in safe place, floodproof, and have 46 00:03:03.280 --> 00:03:06.439 up to date appraisers. It's so important, but we don't 47 00:03:06.439 --> 00:03:08.520 think about that sometimes when we worry about the cost. 48 00:03:09.639 --> 00:03:11.439 So we're going to talk about that today so that 49 00:03:11.479 --> 00:03:14.240 you can decide what makes sense for you to protect 50 00:03:15.039 --> 00:03:18.400 your beautiful things so you can pass them on to 51 00:03:18.479 --> 00:03:20.919 the people you love. And so we're going to be 52 00:03:20.960 --> 00:03:25.560 talking with today on Fearless, Fabulous You. Ed O'Brien he 53 00:03:25.759 --> 00:03:29.280 is a certified appraiser for more than thirty years. He 54 00:03:29.319 --> 00:03:32.840 trained with a Gemological Institute of America, the GIA and 55 00:03:32.919 --> 00:03:36.280 Diamonds and Colored Stones. It's a comprehensive education to ensure 56 00:03:36.280 --> 00:03:39.479 that every appraisal conducted by Ed is performed with the 57 00:03:39.560 --> 00:03:44.400 highest level of professionals and precision. Now that's important because 58 00:03:45.000 --> 00:03:51.039 I have heard stories of people that didn't go and 59 00:03:51.080 --> 00:03:56.039 select the proper people or maybe sold, you know, tried 60 00:03:56.039 --> 00:03:59.599 to sell jewelry to someone who was rably not authorized 61 00:03:59.599 --> 00:04:02.879 to deal and they ran into some problems. You don't 62 00:04:02.879 --> 00:04:05.840 want to run into problems when it's something precious. So 63 00:04:05.879 --> 00:04:08.240 we're going to talk to Ed about what steps you 64 00:04:08.240 --> 00:04:12.039 should take if you want to protect your valuables. Ed 65 00:04:12.120 --> 00:04:15.360 welcome to Fearless Fabulous You, thank. 66 00:04:15.159 --> 00:04:16.759 You, Melanie, Thank you for having me today. 67 00:04:17.399 --> 00:04:18.800 Before I want to start, I just want to let 68 00:04:18.800 --> 00:04:23.480 everybody know for full disclosure, that Ed O'Brien appraised a 69 00:04:23.519 --> 00:04:26.279 lot of my jewelry that I inherited from my mother 70 00:04:26.480 --> 00:04:30.360 and she did not have up to date appraisals, which 71 00:04:30.360 --> 00:04:32.560 we're going to talk about, so I couldn't get anything 72 00:04:32.600 --> 00:04:34.839 a prey. I couldn't get anything protected by a jew 73 00:04:35.319 --> 00:04:38.439 jewelry insurance coverage program because she didn't have up to 74 00:04:38.480 --> 00:04:44.720 date appraisals. So I found Ed through a service, I think, 75 00:04:44.759 --> 00:04:47.839 and he had very high marks. So full disclosure. I 76 00:04:47.839 --> 00:04:51.120 have worked with Ed, and I invited him on because 77 00:04:51.360 --> 00:04:53.519 the whole thing with the fires just really shook me. 78 00:04:54.279 --> 00:04:58.600 So anyway, I do recommend him. He's based in Connecticut. 79 00:04:58.199 --> 00:05:01.639 Right, Yes, I'm based in the New Haven area, but 80 00:05:01.680 --> 00:05:02.160 he came. 81 00:05:02.040 --> 00:05:05.199 To New Orleans. He travels, and he came and it was great, 82 00:05:05.879 --> 00:05:08.480 So Ed, welcome. I just wanted to get that, you know, 83 00:05:08.519 --> 00:05:15.160 full disclosure out. So Ed, let's talk about what you 84 00:05:15.199 --> 00:05:18.120 should look for in an appraiser and are there different 85 00:05:18.240 --> 00:05:20.600 kinds of appraisers that you must consider? 86 00:05:21.800 --> 00:05:25.439 Okay, uh yes, I think that you have to find 87 00:05:25.480 --> 00:05:29.279 an appraiser that is qualified, somebody who is knowledgeable of 88 00:05:29.480 --> 00:05:32.560 market trends, somebody who has a credentials such as g 89 00:05:32.720 --> 00:05:37.720 i A or National Association of Jewelry Appraisers. You really 90 00:05:37.759 --> 00:05:42.120 need somebody who can look at a piece, knows how 91 00:05:42.160 --> 00:05:46.680 it's manufactured, knows the manufacturing process, knows the you know, 92 00:05:46.759 --> 00:05:51.120 replacement value in the retail value of it, and knows 93 00:05:51.160 --> 00:05:54.120 what the actual costs would be should you have a loss, 94 00:05:54.879 --> 00:06:00.319 you're able to have enough insurance to replace it. I 95 00:06:00.319 --> 00:06:03.439 mean there are many things that do go into an appraisal, 96 00:06:03.560 --> 00:06:06.439 such as market fluctuations, that things change all the time. 97 00:06:06.560 --> 00:06:09.480 What it's worth, you know, five years ago, might not 98 00:06:09.519 --> 00:06:12.160 be what is what that item is worth today. So 99 00:06:12.240 --> 00:06:14.720 you really need to make sure you find somebody who 100 00:06:15.639 --> 00:06:16.759 knows the industry. 101 00:06:17.959 --> 00:06:19.920 I think it's important and to under also in the 102 00:06:19.959 --> 00:06:22.199 score is I learned like a lot of the appraisal. 103 00:06:22.199 --> 00:06:26.319 Appraisals I had were over ten, fifteen, even twenty twenty 104 00:06:26.399 --> 00:06:30.240 five years old. That didn't fly with the jewelry company. 105 00:06:30.240 --> 00:06:35.680 With the I used Jewelers Mutual because it was recommended 106 00:06:35.720 --> 00:06:39.759 by my renter's insurance. Because renters insurance will only cover 107 00:06:39.839 --> 00:06:43.120 so much. Homeowners is a different ballgame. Okay, with homeowners 108 00:06:43.160 --> 00:06:47.360 you can ask about jewelry coverage and art and everything else, 109 00:06:47.399 --> 00:06:49.879 but renters you're a little limited. So I actually ended 110 00:06:49.920 --> 00:06:52.600 up going to Jewelers Mutual, which was recommended by people 111 00:06:53.160 --> 00:06:57.079 to do a whole separate insurance policy. And I want 112 00:06:57.120 --> 00:06:59.000 to bring that out because they would not talk to 113 00:06:59.040 --> 00:07:01.160 me until I had appraisals. 114 00:07:01.959 --> 00:07:05.639 Yeah, you should really update appraisals at least every three years. 115 00:07:05.959 --> 00:07:10.079 Might recommend two years, because again, things do change. Currently 116 00:07:10.160 --> 00:07:12.720 right now in the market, we're going through a phase 117 00:07:12.759 --> 00:07:17.240 where lab created diamonds are very popular, so it's kind 118 00:07:17.279 --> 00:07:20.560 of dropping the value of natural diamonds. So if you 119 00:07:20.560 --> 00:07:24.079 have an appraisal for say one carrot time and that 120 00:07:24.160 --> 00:07:27.279 you got ten years ago, it would not be current 121 00:07:27.879 --> 00:07:30.560 market value now, and you also might be paying higher 122 00:07:30.560 --> 00:07:33.519 insurance rates for that because the prices have come down 123 00:07:33.560 --> 00:07:33.879 a little. 124 00:07:35.639 --> 00:07:38.160 You really should update your appraisal at least every two years. 125 00:07:41.079 --> 00:07:44.079 What is the appraisal process, what do you have to 126 00:07:44.120 --> 00:07:47.600 bring to the table, and what should you expect the 127 00:07:47.720 --> 00:07:51.000 appraiser to do and provide you in terms of documentation. 128 00:07:52.600 --> 00:07:56.079 Okay, all you really need to bring is the item 129 00:07:56.360 --> 00:08:01.360 and the jeweler and the appraiser should inspect the diamond 130 00:08:01.680 --> 00:08:05.120 or any of the stones or even the carrot of 131 00:08:05.160 --> 00:08:09.079 the metal into a full inspection and then they will 132 00:08:09.079 --> 00:08:14.399 determine a value that's current to today's prices in the market. 133 00:08:15.040 --> 00:08:19.920 And you should get a detailed report itemizing all the stones, 134 00:08:20.639 --> 00:08:24.639 all their clarities, their collar, the grade of each and 135 00:08:24.800 --> 00:08:27.480 every individual stone in the item, whether it be a 136 00:08:27.519 --> 00:08:31.720 bracelet and necklace spring, the metal, whether it's ten car 137 00:08:31.920 --> 00:08:35.799 fourteen care platinum. And then you should get a detailed 138 00:08:36.240 --> 00:08:40.600 description of the item, something that say you should have 139 00:08:40.600 --> 00:08:42.639 a loss and lose that piece. You should be able 140 00:08:42.679 --> 00:08:47.759 to read that narrative and replace that item and know 141 00:08:47.840 --> 00:08:50.799 exactly what that item is just by reading that narrative. 142 00:08:51.799 --> 00:08:53.919 And it really has to be a detailed description of 143 00:08:53.960 --> 00:08:54.399 each item. 144 00:08:55.039 --> 00:08:58.799 Pictures also should be included if whenever possible. I don't 145 00:08:59.039 --> 00:09:02.879 you know, It's not always necessary, but a picture on 146 00:09:02.960 --> 00:09:05.320 the appraisal is always something to look back should you 147 00:09:05.320 --> 00:09:05.799 have a loss. 148 00:09:06.519 --> 00:09:09.360 I think pictures are essential and I have had. I've 149 00:09:09.399 --> 00:09:11.279 worked with many appraisers. I worked with the praisers when 150 00:09:11.320 --> 00:09:13.360 I lived in New York. I had appraisers in Tennessee. 151 00:09:13.759 --> 00:09:17.759 When my mother would buy me jewelry. You gave me 152 00:09:17.799 --> 00:09:22.960 a very detailed appraisal with photos and detailed commentary. And 153 00:09:23.279 --> 00:09:25.120 I think you spent like five hours in my house. 154 00:09:25.200 --> 00:09:27.279 It was great because you actually came, you were in 155 00:09:27.399 --> 00:09:29.919 New Orleans and ended up you know, coming, and it 156 00:09:29.960 --> 00:09:31.639 was really comforting because I didn't want have to take 157 00:09:31.679 --> 00:09:35.360 my stuff anywhere. It was great. But I'm going to 158 00:09:35.440 --> 00:09:38.840 say that even if listeners, if you choose not to 159 00:09:38.879 --> 00:09:41.759 get anything appraised or not, I do recommend it. If 160 00:09:41.759 --> 00:09:46.480 it's valuable, you should be taking a photo of everything 161 00:09:46.600 --> 00:09:50.759 in your house where it is, whether it's on the wall, 162 00:09:51.000 --> 00:09:55.039 on the floor, on a shelf, and a jore that 163 00:09:55.080 --> 00:09:59.039 you do not want to lose, and you should create 164 00:09:59.159 --> 00:10:04.639 a spreadsheet or a list because when disaster strikes, you 165 00:10:04.759 --> 00:10:08.000 need to have documentation. I have done that with every 166 00:10:08.080 --> 00:10:12.399 room in my house. So the photos are really important, 167 00:10:12.399 --> 00:10:17.200 and I keep them in the cloud because obviously and 168 00:10:17.840 --> 00:10:20.360 if you are evacuating, you should be able you should 169 00:10:20.440 --> 00:10:24.000 have that any printouts with you. But you should keep 170 00:10:24.000 --> 00:10:26.159 everything also in a cloud because if your house does 171 00:10:26.159 --> 00:10:28.679 burned down, everything is gone correct and. 172 00:10:28.600 --> 00:10:31.320 That is so important too to keep the appraisal documents 173 00:10:32.279 --> 00:10:36.759 somewhere where they're safe, where they're fireproof, they're waterproof. But 174 00:10:36.879 --> 00:10:40.559 also keep them if you can, and ever possible, off 175 00:10:40.679 --> 00:10:43.320 site of your location, because say your house. 176 00:10:43.120 --> 00:10:45.960 Burns or there is a flood or a fire, you 177 00:10:46.000 --> 00:10:46.960 want to be able to get to that. 178 00:10:47.120 --> 00:10:50.320 So a safety deposit box the cloud is very uh, 179 00:10:51.279 --> 00:10:53.759 it is a very good idea. I recommend that highly 180 00:10:53.799 --> 00:10:57.039 also be able to you have to think ahead, like I, 181 00:10:57.120 --> 00:10:59.039 should you have a loss, you have to be able 182 00:10:59.039 --> 00:11:00.000 to get to that documentary. 183 00:11:01.360 --> 00:11:04.840 Well, we learned when that when unfortunately, when the Pacific 184 00:11:04.879 --> 00:11:08.600 Palisades burned down, so did the banks. And it's a 185 00:11:08.679 --> 00:11:12.039 bit of a mess. So because the everybody lost everything 186 00:11:12.039 --> 00:11:15.039 in the safety deposit box and I learned it was 187 00:11:15.039 --> 00:11:19.480 not covered by the bank. So are there do you 188 00:11:19.559 --> 00:11:24.159 know of any apps or anything that deals specifically with 189 00:11:24.279 --> 00:11:26.440 keeping your documents secure. I'm sure there are some I 190 00:11:26.480 --> 00:11:28.360 don't know if of them myself, But do you know 191 00:11:28.399 --> 00:11:29.559 of any that you would recommend? 192 00:11:29.600 --> 00:11:29.840 I don't. 193 00:11:30.120 --> 00:11:32.279 I don't know of any specific, but there there are 194 00:11:32.320 --> 00:11:35.039 many wallets where you can keep that. Also, your insurance 195 00:11:35.039 --> 00:11:37.399 company should should have a copy of it on file, 196 00:11:37.919 --> 00:11:39.360 you know, should you ever need to get to it. 197 00:11:41.679 --> 00:11:43.399 Yeah, what I do is I have I have a 198 00:11:43.399 --> 00:11:45.159 print out, I have a print out I have in 199 00:11:45.200 --> 00:11:48.200 the cloud in my in my in my cloud, the 200 00:11:48.279 --> 00:11:52.360 Microsoft cloud, and I'm probably going to find a wallet also, 201 00:11:52.639 --> 00:11:58.759 And yes, you're ensure should have detail as well, right. 202 00:11:59.159 --> 00:12:01.120 And you can't have any shared unless it's in praise, 203 00:12:01.159 --> 00:12:02.720 so it's kind of a catch twenty two. You have 204 00:12:02.720 --> 00:12:04.759 to have it appraised here, you know, so in case 205 00:12:04.799 --> 00:12:06.480 you have a loss, your insurance company will have a 206 00:12:06.519 --> 00:12:07.039 copy of that. 207 00:12:09.039 --> 00:12:14.039 What kinds of things do you feel? Obviously it's really 208 00:12:14.120 --> 00:12:16.159 up to the person, But do you feel really important 209 00:12:16.200 --> 00:12:18.360 to have a praise right now? You actually caught me 210 00:12:18.399 --> 00:12:21.000 with a lab diamond comment because I think I have 211 00:12:21.080 --> 00:12:25.000 a natural diamond that probably is over a praise now 212 00:12:25.039 --> 00:12:28.200 based on that, and I'm paying a hefty price tag 213 00:12:28.279 --> 00:12:32.360 to have ensured. What do you what are things that 214 00:12:32.440 --> 00:12:34.840 are examples and not just jewelry. 215 00:12:34.840 --> 00:12:39.399 Also, I think anything of value, anything at least in 216 00:12:39.480 --> 00:12:43.279 the jewelry, I say anything over say a thousand dollars 217 00:12:43.279 --> 00:12:47.720 fifteen hundred dollars value anything as you acquire new gifts 218 00:12:47.840 --> 00:12:51.840 or new pieces. But you should also have your art 219 00:12:51.879 --> 00:12:57.879 a praise. Any important and valuable art should be a praise. Collectibles, 220 00:12:58.600 --> 00:13:01.080 there's many collectibles out there that have very high value. 221 00:13:01.240 --> 00:13:04.559 They should be a praise. Should you ever have a loss, 222 00:13:04.799 --> 00:13:08.519 you know, you should be insured. You know, anything that 223 00:13:08.559 --> 00:13:10.879 you're going to have to down the road prove the 224 00:13:10.960 --> 00:13:15.320 value of, you know, for insurance purposes to recoup any loss, 225 00:13:16.080 --> 00:13:16.480 or you've. 226 00:13:16.360 --> 00:13:21.120 Been replacement right, Because there's loss and there's replacement. And 227 00:13:21.200 --> 00:13:23.840 I'm going to just say it's a big difference because 228 00:13:23.960 --> 00:13:26.679 insurance can cover you for loss, but in order to 229 00:13:26.759 --> 00:13:30.639 have it your jewelry or your fine art or whatever covered, 230 00:13:30.679 --> 00:13:36.960 it has to be a replacement value insurance policy schedule correct. 231 00:13:37.600 --> 00:13:39.600 And I learned that when I was robbed, I didn't 232 00:13:39.600 --> 00:13:42.120 have replacement. I had replacement, but I didn't I mean 233 00:13:42.159 --> 00:13:44.879 I had lost, but that replacement right, And. 234 00:13:44.840 --> 00:13:47.000 That's why it's so important to have your appraisal was 235 00:13:47.080 --> 00:13:49.759 updated every few years. You know you couldn't inherit a 236 00:13:50.720 --> 00:13:53.279 diamond ring that you could. You know that's very high 237 00:13:53.360 --> 00:13:57.399 value in replacement right now where you have it under appraise, 238 00:13:58.240 --> 00:13:59.679 you know you'll never be able to replace it for 239 00:13:59.679 --> 00:14:01.759 what you have and ensured for, so you have to 240 00:14:01.919 --> 00:14:04.000 keep that current at current retail price. 241 00:14:05.679 --> 00:14:08.240 And you said every three years, maybe three to five. 242 00:14:08.279 --> 00:14:11.120 I think it's five years. I don't know every insurance. 243 00:14:11.480 --> 00:14:14.080 This is something you listeners need to discuss with your 244 00:14:14.080 --> 00:14:16.519 when you're shopping around for insurance. And you know, we 245 00:14:16.559 --> 00:14:20.200 all know that home insurance right now is tough. You 246 00:14:20.279 --> 00:14:25.559 need to ask how do you handle fine art, jewelry 247 00:14:26.120 --> 00:14:31.799 collectibles because every insurance is different. 248 00:14:33.639 --> 00:14:36.399 Correct, And like I said, I recommend two to three 249 00:14:36.440 --> 00:14:40.799 years having everything updated. Some insurance companies will go as 250 00:14:40.840 --> 00:14:44.120 far as five. But you ought to make sure you've 251 00:14:44.200 --> 00:14:44.919 got that question. 252 00:14:45.039 --> 00:14:49.519 So you do know, and you're you specialize in jewelry appraisals, 253 00:14:51.039 --> 00:14:53.720 do you do other kinds of appraisals? 254 00:14:53.919 --> 00:14:58.159 I do silverware, silver silver sets, that kind of stuff. 255 00:14:58.440 --> 00:14:59.320 I don't do art. 256 00:15:00.000 --> 00:15:04.720 I pretty much specialize in the fine jewelry, in metals, 257 00:15:04.759 --> 00:15:06.320 like serving sets, things like that. 258 00:15:07.960 --> 00:15:11.600 You know, I le've talked discussed it because I inherited silver, 259 00:15:11.840 --> 00:15:14.039 and you know, the appraisals are like from when my 260 00:15:14.080 --> 00:15:17.039 mother was married, which is over sixty years ago, so 261 00:15:17.919 --> 00:15:21.360 and silver has fluctuated. I'm in the process of getting 262 00:15:21.360 --> 00:15:25.639 all that addressed as well. And also it's not just 263 00:15:26.120 --> 00:15:28.799 to protect it, to keep it and hopefully pass it 264 00:15:28.840 --> 00:15:32.320 down or whatever, but also if you choose to sell something. 265 00:15:32.399 --> 00:15:34.279 I mean I have been in what I call the 266 00:15:34.360 --> 00:15:37.039 selling of my mother's items for a while and I 267 00:15:37.080 --> 00:15:41.360 couldn't price anything properly. Or when I would take it 268 00:15:41.399 --> 00:15:44.399 to an auction house and they would give me an estimate, 269 00:15:44.639 --> 00:15:47.679 you don't know somebody's joshing with you or not, because 270 00:15:47.679 --> 00:15:52.240 everybody's going to low ball you. And if you say 271 00:15:52.279 --> 00:15:55.240 I have the appraisal, they may say, well, yeah, but 272 00:15:55.399 --> 00:15:58.039 that's an appraisal for replacement. But we all know that. 273 00:15:58.240 --> 00:16:00.679 You know, in wholesale it's differ. You'll get a lot 274 00:16:00.679 --> 00:16:03.840 of pushback, but at least you have that appraisal. Particularly 275 00:16:03.840 --> 00:16:07.679 if you're selling something, whether you're selling it yourself invaluable 276 00:16:07.759 --> 00:16:11.320 or eBay or first DIBs, you can say I have 277 00:16:11.960 --> 00:16:13.919 I just did this. You could say I have an 278 00:16:13.960 --> 00:16:18.840 appraisal or an authentic letter of authentication, and that protects 279 00:16:19.039 --> 00:16:22.480 you when you were selling something directly or through a 280 00:16:22.519 --> 00:16:23.200 third party. 281 00:16:24.519 --> 00:16:28.240 Yeah, absolutely, especially if you're selling to an auction house 282 00:16:28.320 --> 00:16:29.399 or something like that. 283 00:16:29.799 --> 00:16:31.480 You need to know the value so they don't take 284 00:16:31.480 --> 00:16:34.720 advantage of you. You know, and there are a lot 285 00:16:34.720 --> 00:16:36.200 of companies that do that. 286 00:16:36.279 --> 00:16:38.279 So at least you're not going to get the full 287 00:16:38.399 --> 00:16:41.919 retail replacement value, but you know the cost of it. 288 00:16:43.240 --> 00:16:48.519 And you're right, a letter of authenticity that's a tough 289 00:16:48.519 --> 00:16:51.600 word to get out right now. That's helping the value 290 00:16:51.600 --> 00:16:54.039 of selling it privately also, and. 291 00:16:54.080 --> 00:16:56.279 That's important, particularly if you don't know. And I'm going 292 00:16:56.360 --> 00:16:59.879 to give some scenarios. I had a squash blossom that 293 00:17:00.759 --> 00:17:03.000 couldn't find any markings on it, but I was able 294 00:17:03.000 --> 00:17:06.240 to get a letter of authenticity so I could sell it. Uh, 295 00:17:06.519 --> 00:17:09.240 you I learned when you came into praise of my 296 00:17:09.319 --> 00:17:12.680 joy A piece two pieces I just kind of like 297 00:17:13.480 --> 00:17:15.400 snubbed at and didn't think they were worth much actually 298 00:17:15.480 --> 00:17:17.000 became worth more than I realized. 299 00:17:17.880 --> 00:17:19.240 Yeah, that quite often happens. 300 00:17:19.920 --> 00:17:24.000 Yeah, I was very surprised by that, and yet not funny. 301 00:17:24.039 --> 00:17:27.200 Not funny the quote diamond earrings that my mother gave 302 00:17:27.240 --> 00:17:29.839 me with great fanfare for my birthday, ended up to 303 00:17:29.839 --> 00:17:35.359 be cubic circonias, which you know, my mother has passed. 304 00:17:35.359 --> 00:17:37.359 But a did my mother tried to pass them off 305 00:17:37.359 --> 00:17:39.680 to me as diamonds that knew they were czs or 306 00:17:39.720 --> 00:17:44.279 did the store sell her czs instead of diamonds. We'll 307 00:17:44.279 --> 00:17:47.640 never know, but I kind of cringed thinking about that, 308 00:17:47.759 --> 00:17:49.920 because I would hate to know that my mother thought 309 00:17:49.960 --> 00:17:51.920 she was giving me diamonds and they were CZ's. That 310 00:17:52.039 --> 00:17:52.880 was a big surprise. 311 00:17:53.599 --> 00:17:55.880 Yeah, well, I mean you could take comforted it was 312 00:17:55.880 --> 00:17:56.599 a dot, you know. 313 00:17:57.720 --> 00:17:59.960 But but if I had gone to a do A 314 00:18:00.160 --> 00:18:02.960 or I mean a jeweler's mutual where I use and 315 00:18:02.960 --> 00:18:04.960 said I have you know, or somebody that said, oh well, 316 00:18:04.960 --> 00:18:07.960 just appraises for whatever, or tried to sell them, it 317 00:18:08.000 --> 00:18:11.200 could have been really messy. So you know, again the 318 00:18:11.319 --> 00:18:14.839 value of getting appraisals is one to protect things that 319 00:18:14.880 --> 00:18:18.640 you cherish and don't want to lose, and you want 320 00:18:18.640 --> 00:18:25.920 to make sure that if something happens, whether it's lost, stolen, damaged, displaced, whatever, 321 00:18:26.200 --> 00:18:29.680 you have documentation and appraisal. But also if you go 322 00:18:29.799 --> 00:18:33.759 to sell something, you know that you can you've got 323 00:18:33.799 --> 00:18:36.400 a backup to say, I know this is the real 324 00:18:36.440 --> 00:18:37.920 deal right. 325 00:18:38.160 --> 00:18:39.480 Right in for internity. 326 00:18:39.519 --> 00:18:43.279 You know, whether you're looking for the monetary value of 327 00:18:43.319 --> 00:18:45.680 it or you want to replace it, it's it's important 328 00:18:45.720 --> 00:18:48.000 to be able to have it at a level that 329 00:18:48.039 --> 00:18:49.160 you can replace something. 330 00:18:50.000 --> 00:18:54.759 Yeah, it's really really important. Are there other scenarios that 331 00:18:55.240 --> 00:18:59.079 my listeners should weigh in when they're working with an appraiser. 332 00:19:01.119 --> 00:19:01.559 Currently? 333 00:19:01.759 --> 00:19:04.440 Uh, I think a lot of people are going towards electronically. 334 00:19:04.440 --> 00:19:09.039 Electronic is okay as long as you have the proper information. 335 00:19:09.400 --> 00:19:12.119 A lot of times you don't have to travel, you know, 336 00:19:12.200 --> 00:19:17.039 to have you Julia appraise. You know, the process does 337 00:19:17.119 --> 00:19:20.359 not take that long it should take electronically should take 338 00:19:20.359 --> 00:19:23.079 a day or two if you send it somewhere or 339 00:19:23.400 --> 00:19:27.640 you're on site, typically about one to two weeks. It's 340 00:19:27.680 --> 00:19:32.559 not really a hard process. Again, I'm doing electronically all 341 00:19:32.559 --> 00:19:34.240 over the country and a lot of a lot of 342 00:19:34.279 --> 00:19:37.359 people are these days. That also is accepted by many 343 00:19:37.359 --> 00:19:39.759 insurance companies, So I. 344 00:19:39.720 --> 00:19:44.000 Would uh, so you would be contented by your website, 345 00:19:44.039 --> 00:19:48.480 which is objewelers dot com. Ob as a boy, and 346 00:19:48.599 --> 00:19:51.759 then I would upload photos that I take with my 347 00:19:51.880 --> 00:19:54.640 phone onto your website and you would be able to 348 00:19:54.680 --> 00:19:56.920 do the evaluation that way. I are you have to 349 00:19:56.960 --> 00:19:58.960 send specific photos. I would think you'd have to send 350 00:19:59.000 --> 00:20:03.720 anything as market as close up, side, yes, et cetera. 351 00:20:04.279 --> 00:20:06.720 As many photos as you can, with as much detail 352 00:20:06.720 --> 00:20:09.519 as you can. If you when you're updating, it's even easier. 353 00:20:09.680 --> 00:20:12.079 Just getsend a copy of the old appraisal with the 354 00:20:12.119 --> 00:20:16.160 photo and then that has the information we should have 355 00:20:16.240 --> 00:20:20.920 the information needed and then really just detailed like you're right, 356 00:20:21.000 --> 00:20:23.240 markings front, backside. 357 00:20:24.680 --> 00:20:26.599 I think the old appraisal is important. I still have 358 00:20:26.640 --> 00:20:29.559 the old appraisals. Even though I got everything, I still 359 00:20:29.640 --> 00:20:34.319 keep the old appraisals and builds a cell because that 360 00:20:34.480 --> 00:20:36.160 kind of tells a history of the item. 361 00:20:36.759 --> 00:20:41.440 Correct. Anything will make you right and it's important to 362 00:20:41.440 --> 00:20:42.000 the appraiser. 363 00:20:42.039 --> 00:20:45.680 Also all that information should you have it, it's it's 364 00:20:45.720 --> 00:20:48.799 not necessary. If you don't have it, pictures are fine, 365 00:20:48.839 --> 00:20:50.000 you can go from there. 366 00:20:51.559 --> 00:20:51.759 Well. 367 00:20:51.759 --> 00:20:55.200 My advice would be if you buy something or your 368 00:20:55.240 --> 00:20:58.880 gifted ask I mean every time my mother give me a 369 00:20:58.839 --> 00:21:00.599 piece of jewel, I'm say, did you get praise? Because 370 00:21:00.960 --> 00:21:03.440 with the piece of joey should come in appraisal. Uh, 371 00:21:03.480 --> 00:21:06.799 and and and data sale because it does make a 372 00:21:06.839 --> 00:21:09.680 difference when you were if that person is no longer 373 00:21:09.680 --> 00:21:12.200 with you. I had to go through a lot of 374 00:21:12.240 --> 00:21:15.160 things in my mother's estate, my grandmother's joy. We just 375 00:21:15.160 --> 00:21:18.400 did it with my mother in law, and I mean 376 00:21:18.440 --> 00:21:20.400 she's still alive, but we're right now doing it with 377 00:21:20.440 --> 00:21:26.039 some of her boxes of jewelry. And it made keeping 378 00:21:26.079 --> 00:21:27.519 that documentation is so. 379 00:21:27.440 --> 00:21:29.400 Important, it really is. 380 00:21:30.160 --> 00:21:32.000 And anything you know a receipt you can just go 381 00:21:32.079 --> 00:21:34.759 from from that, that can be the documentation documentation you 382 00:21:34.759 --> 00:21:36.119 send with the photos. 383 00:21:36.640 --> 00:21:36.799 Now. 384 00:21:36.839 --> 00:21:39.279 I also think it's important to clarify you were an appraiser, 385 00:21:39.319 --> 00:21:43.880 so the services you provide are appraisal services. You don't well, 386 00:21:43.920 --> 00:21:47.720 I don't know, so what about people who have like 387 00:21:47.799 --> 00:21:51.599 I had. We had a big box of jewelry mishmash, 388 00:21:51.720 --> 00:21:53.400 and we just wanted to know what what we could 389 00:21:53.440 --> 00:21:55.480 just sell just get rid of. Do you do that? 390 00:21:56.880 --> 00:21:59.440 Yes? I do a thumb brokering for certain pieces. 391 00:22:00.279 --> 00:22:02.799 A lot of dealers and we can broke a jewelry, 392 00:22:02.839 --> 00:22:05.200 we can buy scrap gold. 393 00:22:04.960 --> 00:22:06.039 I do a lot of that. 394 00:22:07.359 --> 00:22:09.920 I want to share an experience, so we have done 395 00:22:09.920 --> 00:22:13.799 that a few times. I've done it through a jeweler. 396 00:22:14.200 --> 00:22:15.799 I won't say who. I don't know if I've got 397 00:22:15.799 --> 00:22:17.799 the best, but you know, I have to trust them. 398 00:22:17.839 --> 00:22:20.160 But we recently did it down in New Orleans with 399 00:22:20.200 --> 00:22:22.039 somebody who did a great job, and I had to 400 00:22:22.200 --> 00:22:26.119 I had to giggle. It's giggle, not giggle, right, funny, 401 00:22:26.160 --> 00:22:30.160