If I were to sell my car, I could not expect to receive the amount of money for it that
I would have to pay in order to go out and replace it. How much I could realize would also
depend on the amount of time and effort I put into the sale. Did I do everything necessary
to receive top dollar, or did I go to a dealer and let him do the work of finding a buyer.
The same holds true for jewelry. If you were to sell your ring, you couldnt expect to be paid the same amount for it that the buyer would pay for the same ring, new, from an established dealer. The ring is differentit is used, and the market is differentan established jeweler vs. an unknown (to the buyer) private person. These factors, in addition to the quality, condition and desirability of the ring would affect the value. All these elements must be considered in a valid appraisal.