According to the United Standards of Professional Appraisal Practice (USPAP), an appraiser must be ALL of the following in order to produce a legitimate appraisal:
-Knowledgeable in the subject property
-Knowledgeable in Valuation in Personal Property
-Objectively Neutral
The first one is obvious- you must have your graduate gemologists diploma from the GIA
or equivalent.
Knowledge in Valuation in Personal Property is offered by the American Society of Appraisers, the National Association of Jewelry Appraisers (and more) and results in acronyms after ones name such as ASA, AM, ISA, NAJA, etc.
The third requirement is the easiest to meet, but the most widely abused. It simply means that the appraiser cannot have any interest in the subject property being appraised. For example, someone who buys jewelry will have an objectively bias opinion of value, because if he or she values it lower, he or she can purchase it lower. Never get an appraisal from someone who sold you the piece, buys jewelry or charges a contingent of the appraised value.
Cecelia Gardner of the Jewelers Vigilance Committee at the 2004 AGTA Tucson Gem Show once stated:
"Out of 2000 companies, entities and individuals offering gems and jewelry appraisals in the U.S., 100 are considered legitimate."
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