Frequently Asked Questions

What do you specialize in?

Diamonds, colored stones, pearls, watches, precious metals, and natural and synthetic stones. We have an extensive knowledge of finer jewelry houses including Tiffany, Cartier, Chanel, Rolex, Harry Winston, David Yurman and others.

Due to the difficulty in grading and the necessary use of specialized equipment, we do not value Jadeite or Nephrite pieces that have not previously been authenticated or appraised.

We do NOT grade, authenticate or provide value opinions on rough or uncut gemstones. 

What primary services
do you offer?

Fine jewelry and watch appraisal for estate purposes, insurance, personal valuation and other needs.  

We also are a concierge service to help source the right piece of jewelry for you, connecting you with our trusted network of jewelry specialists who will give you the best value or offer the best market to sell in.

We also sell estate jewelry and natural and
lab grown diamonds.

What are the rates
of your services?

For smaller projects, our rates are as follows:  
First item starts at $225, and each additional item starts at $135.00.  Pick up or drop off of items start at $50.00 depending on distance.  

For larger estates or who have more than five items to get appraised, we charge $250.00 per hour.  We are able to give you an estimate based on the scope of work and number of items needing valuations.  

Prices do not include estimated costs to repair or have jewelry sent out for evaluation or additional lab testing.
  

How long does it take
to get my appraisal?

That depends on the number of items you have and how in depth of a report you want.  

For most appraisals, we are able to turn around your item
same day, or within a few days.
You may be required to leave your items with us for valuation and evaluation.  If you require a faster turn around, there will be a rush charge.  

Same day service available depending upon availability. 
 

Are you licensed and insured?

Yes, we are fully insured and all of our appraisals are
carried out by GIA Graduate Gemologists.  

Texas does not require licensing,
but we are properly credentialed. 

Where are my items stored?

While under our possession, all of the items are stored in a commercial T3 vault and are insured under our insurance policy.  We have cameras within the office to provide additional security and we have heavy police presence at our office to ensure the safety of our clients and their property.  

Check with you insurance carrier to see if your items are covered under your insurance policy while in our possession.    

What type of warranty
do you provide?

 For new items purchased, we warranty for one year for small repairs. For other items, we are happy to refer you to one of our top vendors for repairs, or replacements.

What are your terms
and conditions?

Appraisal is an opinion of value rooted in research.  We work to ensure you receive an honest, professional, accurate fair market value or retail replacement market value for insurance for your items.  Our valuation fluctuates based on current market conditions, trends as well as the age and condition of the items being valued.  There may be differences in opinion amongst Appraiser’s and gemological labs.  

What do I need to bring with me?

In order to give you the most accurate appraisal or opinion of value possible, please bring with you any documentation you have about the property.  This includes:  diamond or gemstone certificates from labs GIA, IGI, EGL etc., sales receipts, warranties, old insurance appraisals (these are very helpful because there are usually measurements taken before a stone is mounted), and any other documentation or previous appraisals. 

What is the difference between Retail Replacement value and
Fair Market value ?

A retail replacement market value appraisal is what is usually given to insurance companies and details the cost to replace the jewelry with an item of like kind and quality at the current retail market price. It is the highest valuation given. 

A fair market value appraisal is the typical sales price at which the property would change hands between a reasonable willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts in a typical market. It is usually less than Retail Replacement value, but more than liquidation value.  

What are your hours
of operation?

We are open by appointment M-F 10am – 4pm.  You must have an appointment, no walk-in services.

We offer concierge services to pick up and drop off items so that you do not need to bring them into the office. 

Will this be confidential?

Yes, we value your privacy and because of the sensitive nature of jewelry and personal property and its reasons for valuation, we keep all of your information and transactions confidential.  We will not release any information without your express written authorization to anyone or any third party.

How often should I
get an appraisal?

That depends.  Usually most insurance companies require an updated appraisal every 2-3 years.  Some clients update every year or so in order to take advantage of discounts on their insurance or to track the changes in valuation as the market conditions change.  

Are you an Independent Appraiser?

Gem Facets is not an independent appraisal firm because we do offer the service to buy and help sell jewelry from our customers.  However, we are required to disclose if we have any interest in property being appraised and the client has the opportunity to continue with the appraiser, or get another appraiser to work on the assignment.  

We are held by Appraiser’s International Society’s code of ethics and we will not artificially inflate or devalue items if there is any purchasing interest in the property.  
We will always provide an honest, well researched value opinion for our clients
.
  

Do you get referral fees

Yes, it is industry norm if an introduction is made to a third party within our network, that third party may from time to time give us a small referral fee or commission for services or sales.  Additionally we may accept commissions for successfully selling or helping purchase an item and disclose such commission percentage or flat fee upfront,
and is based on sales price.
 
Any fees are disclosed to the client prior to engagement.

Are you affiliated with
The Diamond Factory?

No. While our office is inside The Diamond Factory, we are independent of them. We are not affiliated in any way, although we do share clients from time to time.  Often The Diamond Factory buys directly from our clients and sells directly to our clients as they offer some of the best pricing in town. 

Do you do Expert Testimony or Appraisal Review?

Yes, we do both.  Please contact us for more information to understand your needs. 

Do you appraise rough gemstones?

No.  Grading and valuing rough material requires specialized equipment that only larger laboratories have access to.  As a result, it is too hard to accurately grade rough gemstones or make a positive identification without such equipment.  We currently do not know of any local gemologists who provide these services and recommend sending off to a lab like GIA to get more information about the rough gemstones. 

Do you do on-site appraisals?

It depends. Yes, we do for an extra fee, and as long as the location is conducive to our performing the evaluation (has good lighting, is safe, smoke-free etc.). If you are interested in an on-site appraisal, please contact us so we can ask you some qualifying questions. 

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