GJ216-OOO - Advanced Gemological Appraisal Course

Registration

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Course Description

GJ216 is a comprehensive course designed to fulfill ASA-GJ PoV education requirements for International students.  The course is required for accreditation as a Gems and Jewelry appraiser in ASA.  The curriculum begins with terminology and basic valuation theory and moves on to cover appraisal development and report writing.  International appraisal standards are addressed and discussed.  Describing gems and jewelry consistent with ASA-GJ descriptive guidelines is an important component of the course. The material includes an understanding and application of three approaches to value as well as analyzing comparable sales results and writing a convincing argument supporting the value conclusion.  The course provides students with the opportunity to gain the knowledge and confidence required to complete appraisal assignments compliant with USPAP and IVS.

Upon completion of GJ216 and successfully passing the exam, the student will have fulfilled ASA Principles of Valuation education requirements. Students will gain an understanding of the valuation theory that forms the basis for appraisal development and report writing consistent with USPAP or IVS and ASA.  Students will become familiar with and practice report writing requirements.

Course Audience

Gemologists and jewelry professionals interested in pursuing a career in Gems & Jewelry Appraisal. 

DAY 1 (Morning)
Introductions
Course Overview
  
DAY 1 (Afternoon) & DAY 2
ASA History, Membership Requirements and Benefits
The Appraisal Profession
History of Appraisal Profession
USPAP & IVS Standards
Appraisal Terminology
Competency
Due Diligence
Types of Property
Types of Transactions
Principles of Value
 
DAY 3
Types of Value
Intended Uses
 
DAY 4
Development of an Appraisal
USPAP & IVS Standards
Develop Scope of Work
  
DAY 5
ASA Gem & Jewelry Descriptive Guidelines
 
DAY 6
Introduction to Approaches to Value
Cost Approach
Comparable Sales Approach
Income Approach
Research 
Selection of Relevant Market
Data Collection

DAY 7
Analysis 
Reconciliation of value Conclusions

DAY 8    
The Appraisal Report
Narrative/Interpretive Description
Report Presentation 
Report Delivery - Electronic v. bound
Record Keeping 
 
DAY 9
General Appraisal Procedures:  Intake, Confidentiality and Safeguarding a Client's Property
Developing a Professional Jewelry Appraisal Practice: General business procedures
  
DAY 10 (Morning)
Review for final exam

DAY 10 (Afternoon) 
Final Exam

Upon completion of GJ216, students will be able to:

• Recognize and apply basic theory, concepts, and vocabulary relevant to gems and jewelry appraisals;
• Describe and document jewelry following the ASA-GJ Gems and Jewelry Descriptive Elements;
• Gain an understanding of markets and market levels and their relevance to the appraisal assignment and the subject property;
• Learn to identify and conduct research in the relevant market;
• Acquire proficiency in analyzing the research data, including comparable sales results, in order to arrive at a credible opinion of value;
• Demonstrate an understanding of types of value including Replacement Value, Market Value, Liquidation Value, Marketable Cash Value, etc;
• Write a convincing argument to support an opinion of value; and
• Prepare an appraisal report for compliant with the Uniform Standards of Professional Appraisal Practice (USPAP) or International Valuation Standards (IVS).