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 Post subject: Declared value question
PostPosted: Thu Mar 19, 2020 6:25 pm 
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How are appraisers handling ‘declared value’ issue at intake for pieces that are overnighted? (I don’t do on-the-spot appraisals; items are left overnight with turnaround time of 3 to 5 days, depending.) Client often has no idea for this value, and looks to me. I haven’t examined item yet (esp important re stones), and I don’t want to be an accidental insurer by guessing inappropriately high, nor do I want to be low. I want to be fair and responsible to the client, but where’s the sweet spot for this issue of declared value when I often don’t myself know what to value an item w/o first appraising it, and client has no idea of value (why they’re seeking an appraisal, usually). Thanks for any guidance!


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 Post subject: Re: Declared value question
PostPosted: Thu Mar 19, 2020 10:04 pm 
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Location: San Francisco
Presuming that someone is using USPS for shipping, there are limits on the amount one can insure parcels for.
The safest way to send (albeit not the fastest) is Registered, Insured, Return Receipt. I prefer this method because everyone who touches the parcel along the way has to sign for it. This is the most secure.
The insurance for that caps out at $5000.

Priority is faster, includes tracking and one can also purchase insurance up to $5.000.

Caveat. USPS requires proof of value before they will issue a payout in case of loss or damage.

It is usually possible for an appraiser to estimate the approximate value of an item based on presumed attributes determined with the client's info and pictures.. As long as those attributes are clearly documented, in the case of loss or damage, the client should be able to collect on a claim.

PS. Always document opening a client's box with pictures or video. This will help the appraiser prove that there was no funny business (like switching merchandise or stones) after receipt.

Hope his helps.


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 Post subject: Re: Declared value question
PostPosted: Thu Mar 19, 2020 10:31 pm 
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Thank you so much for the guidance. It makes things clearer and is most helpful. e.b.


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