Keeping the Revamped appraisal program looks to restore waning consumer confidence By Ken Mulhall and Jacquie De Almeida faith the same item raised consumer complaints and generated a lack of confidence, necessitating a program that could help create conditions for more accurate values. Given that a number of appraisals are obtained for insuring against loss, theft, or damage, the need for consistency is all the more apparent. O ne of the biggest challenges for the jewellery industry is the inconsistency and variance of jewellery appraisals. In the past, contradictory appraisals of The importance and need for action is exemplified by the following real-life scenario in which a consumer presented a diamond engagement ring to four different appraisers. Much to the consumer’s surprise, the ring was appraised at different replacement values, the highest being $6100 and the lowest $3650. There was also a discrepancy in regard to the diamond’s quality grade. The highest appraisal deemed the clarity to be I1, the colour to be F, and cut to be good. The lowest appraisal concluded the stone’s clarity to be I1, the colour to be H, and the cut to be fair. Needless to say, the consumer was quite perturbed as to the variation among the appraisals. A tune-up In order to re-establish faith among consumers and the appraisal of their precious jewellery products, the Canadian Jewellers Association (CJA) overhauled the original Accredited Appraiser Program (AAP) with the goal of establishing a framework to maintain credibility, build consumer loyalty, and uphold the highest standards to guarantee customer satisfaction. After nearly three years of study and discussion, CJA launched the enhanced program in January 2009. To ensure the program’s viability, an AAP Committee— made up of a cross-section of industry representatives—also revised or added a number of new components, including member requirements/criteria, and a ‘Code of Ethics and Standards.’ In addition, it developed a consumer brochure entitled, ‘What You Should Know About Jewellery Appraisals,’ and provided amendments that were incorporated into the most current ‘Jewellery Appraisal Guidelines—Minimum Acceptable Standards’ document for industry participants. Membership in the revamped AAP is open to qualified candidates with the necessary prerequisites who successfully complete the AAP exam and agree to uphold the Code of Ethics and Standards. To qualify for a particular level in the AAP, interested candidates must be actively engaged in the practice of gem and jewellery appraising, as well as demonstrate knowledge and competency in the gem and 78 Jewellery Business ❘ February 2010 ©Image from dreamstime.com