Question 1

Do you appraise watches?

Accepted Answer

Yes, we do appraise watches. However, we take every watch to a watch expert (horologist) within that same building as
ours. He opens the back of the case and examines the watch to make sure everything is authentic. After he confirms with us
his findings he will also provide us with the model and serial number of the watch. From there we will take the watch back
tour office and move forward with completing the appraisal for the watch. There is an extra cost for watch appraisals and
watch appraisals do take longer than the standard appraisals as well.

Question 2

What is the process to get an appraisal?

Accepted Answer

The process to getting an appraisal done is very simple! You must bring in the actual item you want to appraised to
our lab, along with any prior documentation you have for it. You are welcome to wait and watch or come back as you please
while the appraisal is being completed. Once complete we will go over the findings of our appraisal with you and answer any
questions or concerns you might have at that time.

Question 3

Are you affiliated with any jewellers, jewellery stores or any other appraisal companies?

Accepted Answer

We are strictly an independent company and are not affiliated whatsoever with any jewellers, jewellery stores and any other
appraisal companies.

Question 4

How long does the appraisal process take?

Accepted Answer

Depends on the piece but an engagement ring appraisal for example would take no longer than 20 minutes to half hour.
Watches, however would need to be left with us. See the following question and answer as to why.

Question 5

What do I have to bring with me?

Accepted Answer

Besides the item you need appraised or certified, it’s always good to bring prior appraisals or any record of the item. This
helps us cross reference our findings and come up with a more precise appraisal or certification. Especially if it’s a
diamond for example that’s already set in a ring.

Question 6

Is there a charge for appraisal services?

Accepted Answer

Yes, we do have a charge for our appraisal service and other services as well such as laser inscriptions on diamonds.

Question 7

What types of appraisal values are there?

Accepted Answer

There are few types of appraisals we can provide for you depending on why you needed the appraisal. The most common
appraisal for insurance would be “Retail Replacement Value (New)”.

We can also provide:
 Liquidation Value appraisal
Fair Market Value appraisal
Wholesale Value appraisal
Estate Value appraisal.

Question 8

What is an appraisal used for?

Accepted Answer

An appraisal can be used for a few functions. It is primarily used to insure the item with an insurance company to protect
against theft, loss or damage. An appraisal can also be used for verification purposes against your purchase, traveling purposes and also if the owner wanted to re-sell the item the appraisal would be an excellent way to show the
buyer what they would potentially be purchasing.

Question 9

What is the difference between an appraisal and a travel document?

Accepted Answer

An appraisal can be used for many purposes as mentioned above and can also be used as a travel document as well.
However, a travel document cannot be used as an appraisal and is a very brief explanation of the jewellery item along with
a picture of the item which is signed and dated before travel. Multiple items can be added on one travel document which
eliminates the need to bring each individual appraisal of the item you might want to bring on the trip with you. It is a good
idea to have proof of ownership of all your items while traveling in case of loss or to present to customs if you are asked
where it was purchased on your re-entry.

Question 10

If I have multiple items would you look at my pieces and tell me which ones are worth appraising? Do I have to pay
for the ones you don’t appraise?

Accepted Answer

We do a lot of appraisals for people who have multiple items, have inherited jewellery, estates and divorce cases. In some
cases the client does not know what is real, what’s not, what’s worth appraising and what’s not worth appraising. We would
encourage you to bring anything in that you are curious about, we would take a look and separate the items we deem to be
worth appraising from the items we deem not worth appraising. At that point it is up to the client as to which or how many
items they would like to get appraised. The items we deem not to be worth appraising we would not charge for that service.

Question 11

Can I watch and wait while the appraisal is being done and is it done in front of me?

Accepted Answer

Yes, you may watch and wait while the appraisal is being done in most instances. Sometimes however especially for
coloured gem stones the gemologist might need to keep the item for further testing, at that point it’s your decision to leave
the item with us so that we can do a thorough identification.

Question 12

Can you do an appraisal or give an appraisal quote over the phone or through email?

Accepted Answer

No, we cannot or do not conduct any appraisals over the phone or through email without having the item to be appraised in
our possession at our office.

Question 13

Are your appraisals accepted by all insurance companies?

Accepted Answer

Since our establishment in 2003, all of our appraisals have been and are accepted by insurance companies. We have not
had any issues or heard of any issues in which our appraisals were not accepted. In fact, some insurance companies
recommend our company to their clients when they need to get appraisals done on their items.

Question 14

Once the appraisal is done by Gem Lab, does that mean my item is insured?

Accepted Answer

No, we only provide the appraisal which breaks down the specifications of your piece of jewellery, the current value and
picture(s). It is up to you then to take that appraisal provided to you and to call any insurance company you prefer and
negotiate your insurance coverage for that piece of jewellery. The insurance company will ask you to email or fax the
appraisal to them and base your coverage according to the information provided on the appraisal.

Question 15

Can I ship and item to Gem Lab for an appraisal?

Accepted Answer

Yes, you definitely can ship an item to us and once the appraisal is completed we can ship the item along with the appraisal
back to you. We would ask that before you do ship anything please let us know through phone or email so that we can expect
your shipment. However, we do not take responsibility for any lost items while the item is being shipped to or from our
office. We prefer using FedEx and have never had any issues with anything missing during shipment but once again this is
ultimately the client’s decision to make.

Frequently asked questions