GJ201-OOO - Foundation I: Core Principles of Appraising Gems and Jewelry
Category: Gems & Jewelry
Continuing Education: 28.8
Registration
Please see the "Upcoming Classes" tab for class offerings and registration information.
Course Description
This course
will provide appraisers with an in-depth understanding of the essential principles and
theories of valuation and the necessary base of knowledge required
to competently appraise gems and jewelry. The ideas, concepts, and methodologies
presented in GJ201 form the core fundamentals that will carry through all of the
other GJ Principles of Value courses. The material in GJ201 is built
upon the concepts, vocabulary and expectations of the Uniform Standards
of Professional Appraisal Practice (USPAP). Basic economic theory will be
covered including an understanding of how macroeconomics and local economic
forces impact jewelry valuation. Specific emphasis will be placed on core concepts such
as ethics, competency, privacy, responsibilities of the appraiser, the three (3)
approaches to valuation, types of markets and their various levels, definitions of
value, the client / intended user / appraiser relationship, and the ASA-GJ
Descriptive Elements for the various types of gems / jewelry appraisers are
likely to encounter.
Instructional Methods
Materials will be presented utilizing lecture and visual aids with
student understanding enhanced through group discussions of focused assignments that
will be completed in-class and between sessions. The class will be highly interactive
and students are encouraged to ask questions at any
time. There are also pre-course reading requirements (see below).
Course
Audience
This course in intended for those interested in pursuing a career in
appraising gems and jewelry, currently practicing appraisers,
and insurance industry professionals who regularly rely on gem and jewelry
appraisals for coverage decisions.
Required
Pre-Course Reading
Students are required to purchase and have
available during class the following texts/documents:
• Personal
Property Monographs #s: 1, 3, 5, 8,
and 13
• USPAP text (current version, which is 2020-2021 for this year's
courses)
• Gems & Jewelry Descriptive Elements (provided in
the appendix of the student manual)
The following is the REQUIRED PRE-COURSE READING list (there may be a quiz
the 1st day):
• USPAP: Preamble, Rules, Definitions
• PP
Monographs #s: 1, 3, 8, 13
• GJ Descriptive Elements
No prerequisites for this course.
Agenda
There is no available agenda for this course.
Learning Outcomes
Upon completion of this course, students will be able
to:
1. Understand the
ethical and competency expectations of an appraiser
2. Recognize what is / is not an
appraisal and who is / is not an appraiser
3. Develop the vocabulary of a
professional appraiser
4. Apply the concepts of valuation
theory and macroeconomic theory to gems and jewelry appraisal
5. Learn to utilize the ASA-GJ
Descriptive Elements for specific property types
6. Develop an understanding of the
approaches to value, value definitions and their correct application
7. Gain a deeper understanding of how
USPAP directly relates to appraising gems and jewelry