Noon

Pearls in the Time of Pandemic

Betty Sue King

Pandemic, Climate Change, social distancing, political turmoil…how does one find level ground to survive and move on? As the world’s economy and humanity struggle to find footing, we seek the familiar to gain comfort amid these unprecedented times. Pearls anchor and secure us with tradition. The demand for pearls continues to rise, accelerating the chain of production, processing, supply, and distribution.

Explore the depths of pearl inventories and how the increased wealth of one nation has influenced distribution and current availability. Investigate pearl products, styles, price changes and peer through the looking glass toward the holiday season and Tucson 2022.

1:00 PM

How to Really Read Gem Lab Reports​

Cigdem Lule, FGA, GIA GG ​

Gemological laboratories provide a number of different reports for gem identification and grading. They can vary greatly in terms of market position and apparent objectivity. While lab reports have become an integral part of the gem trade in the recent decades, these labs offer “Gemstone Reports” that include market based descriptive terminology that directly influences the perceived value of the stone. Dr. Lule will discuss how to “really” read modern lab reports from an appraiser’s perspective to better reach an independent value conclusion.

2:00 PM

Noble Metal Testing 101 or “What’s it Made of Anyhow?”

Gary Smith, GIA GG

How to test the karat gold in items to be appraised and its effect on value. The testing procedures: An overview from simple acid testing to sophisticated xray spectrophotometer. Participants will receive an FTC Precious Metal Tolerance Chart.

3:00 PM

Stressed: How Supply Shortages Have Fundamentally Changed Gem Prices

Stuart Robinson, GIA GG

The presentation will focus on key considerations facing gem and jewelry appraisers as we reconcile research from different markets in search of a relationship between price and value. The influence of COVID on the distribution channel and price structure of colored stones and diamonds has had a number of unexpected consequences. Shortages of popular goods continue even as the market begins to reopen. The expected competition from non-gem industry discretionary spending has failed to lessen the pressure on demand for popular gem and jewelry products. Major international shows are reduced to regional events and as such impact one of the main sources for the transfer of goods from the wholesale to retail market. Low supplies have prices for popular and better products very high relative to 2019 levels. And the question remains, is this an aberration that will soon correct itself?

Now nearly two years into this cycle it is increasingly likely that the market will not return to 2019 supply or pricing levels anytime soon—if ever. And it is this point that appraisers should keep in mind.

In this presentation we’re going to examine some of the specific considerations facing the gems and jewelry appraiser when it comes to the question of price vs value. The speaker will use actual market examples to illustrate why it is imperative to know not just what something is in today’s market, but also where it is, before relying on it as an indicator of value for appraisal purposes.

Noon

Research: Practices and Pitfalls

Deborah Finleon, GIA GG

Accurate and thorough research is one of the most important aspects of appraisal methodology, yet perhaps one of the least understood. What constitutes “research” and what doesn’t? What constitutes a “comparable” and what doesn’t? When must comparables be included in a report? What resources are available? What can these resources tell us – and not tell us – about value? What are the pitfalls of online research? Let’s talk about analyzing, collating, interpreting, and maximizing the vast amount of information available, and how to use it in our everyday practices.

1:00 PM

Appraisals of Giant Gem Materials: Being Vigilant About Your Reputation and Establishing Your Limits. Also, a Short, Second Look at the GemPen for Diamond Screening & Identification.

Dave Atlas, GIA GG

What can you properly defend as an opinion of the value when it comes to a large specimen of rough material? Where are the problems? What are the consequences of venturing too deeply into unfamiliar territory?

2:00 PM

Turn On, Tune In, Drop Out: Style and Influential Jewelers in the 1960s and 1970s

Duncan Parker FGA

The 1960s and 1970s were a time of change around the world. Awareness of nature and the view of the “global village” changed outlooks. There was a growing interest in craft, handmade clothing and accessories, and one-of-a kind jewels. The sexual revolution and increased political awareness created a unique culture of youth that was counterbalanced by an elegant orderliness in other quarters. We will explore both sides of this era with a focus on the influences, and the jewellers who defined this period of half-a-century ago.

3:00 PM

Actual Cash Value Demystified

Bill Hoefer, GIA GG

As we advance in appraisal methodology, it has become clear that appraisals are legal documents. To properly determine a value in an insurance appraisal, the gemologist-appraiser must know the assignment (obtaining insurance or reporting a value for casualty loss) and the required value.

However, for the casualty loss requirements, it is not just a matter of stating that it is actual cash value (ACV) but to realize that ACV is defined differently in different jurisdictions. This presentation will detail the different definitions and their required elements but also what jurisdictions embrace those definitions.