Qualitative Reports:

USPAP and NAJA Compliance Statements

These statements and certifications apply to all reports, but especially ones we create that do not have dollar value amounts. Such reports are Qualitative Reports and are very useful for firms and individuals who wish to sell items online to retail shoppers. Since these reports are generally only a single page on websites, we believe there is a lot of background data, statements and compliance issues that require easy access for those who rely on those reports. Online Qualitative Reports will have a link to this page. Qualitative Reports deal with only the grading and descriptive aspects of our specialty work.

 

Certifications of Appraisal Practice, Contingent and Limiting Conditions:

  1. The statements of fact contained in this report are true and correct.

  2. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions.

  3. I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved.

  4. I have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment. This applies to Fair Market Valuations for IRS related assignments.

  5. I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment.

  6. My engagement in this assignment was not contingent upon developing or reporting predetermined results.

  7. My compensation for completing this assignment is not contingent upon developing or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal.

  8. My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice and National Association of Jewelry Appraisers Code of Ethics.

  9. I have made a personal inspection of the property that is the subject of this report.

  10. No one provided significant personal property appraisal assistance to the person signing this certification.

  11. Unless otherwise stated, this report is not an offer to buy the appraised items at any price.

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  13. Possession of this report does not provide title to the item described. This report process does not discover liens, encumbrances, or fractional interests, but if any are known they will be noted.

  14. Quality analysis is the appraiser’s best judgement and opinion based on current knowledge and information.

  15. Unless expressly stated, the condition of the items reported on is good for their type with serious deficiencies and repairs noted. Ordinary wear and tear common to this type is not usually noted.

  16. Possession of this report, any portion of this report, or any copy thereof does not include the right of publication without this appraisal firm’s written consent. Public use of the name of the appraiser, appraisal firm name, or information contained in the report is not granted. Use of this report in advertising is not permitted without the appraiser’s written consent.

  17. No changes may be made to this report by anyone other than the appraiser who has signed this report. Owl Valley Appraisals, LLC cannot be responsible for unauthorized alterations. Copies of reports are kept in the files of Owl Valley Appraisals, LLC for at least ten years after the date of the report and according to USPAP regulations.

  18. The limited owner of this report is the party for whom the work was performed.

  19. Third parties may rely on the information in this report for the defined purpose and function only. Third parties requiring further information than what is in the report must obtain the written permission of the owner of the report before we discuss the report with them.

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  22. Testimony, depositions, hearings, or court attendance are not required by reason of rendering this report. Arrangements for these matters must be made in advance and in accordance with our then prevailing hourly rates. A retainer will be required in advance.

  23. Use of Gemological Institute of America (GIA) and American Gemological Laboratory (AGL) terminology does not represent our firm is in any way connected with these other organizations. We do not guarantee our grading will be the same as these other independent laboratories, but we make every effort to use the same standards as these laboratories.

  24. The quality descriptors placed upon any item of jewelry is based upon the quality of materials, methods of manufacture, provenance, salability, and condition.

  25. Diamonds are graded by size, shape, proportion, outline, color, and clarity. The finest clarity in the GIA system is the Flawless grade. Clarity decreases in quality to the Imperfect grade. The finest color grade in the GIA system is D color. Color decreases in quality and rarity to the N through R range. Obvious color diamonds in grades S through Z become increasingly rare as color intensifies. The color grade Z denotes a fairly strong degree of color. Fancy color yellow and brown diamonds are more intense than Z color. Fancy color diamonds other than yellow and brown can be very valuable in the less tinted color range of the GIA system. D to R/S color range yellow or brown diamonds are assumed to be natural in color and origin unless stated otherwise. S/T color to the finest of Fancy color yellow or brown diamonds without a formal lab report are generally assumed synthetic or enhanced. Major lab reports are required as complete evidence of natural diamond origin and natural diamond color for all diamonds.

  26. Stones that are set can only be estimated for weight, color, cutting, and clarity. Mountings often obscure exact grading, identification of origin and treatment analysis of stones. We note when stones have been graded “loose” or “unset”, and that certain characteristics are “exact”. Diamond grading reports are made only on unset diamonds. Qualitative reports are made routinely on mounted gems and diamonds, although there is a decrease in the accuracy of the work product.

  27. Proportioning, polishing, shape, and outline are cutting considerations covered by the GIA teaching system incorporating cut classes 1 through 4. These grades do not appear on GIA diamond reports, but we may use them in our reports to add further information.

  28. Colored stones are graded by size, shape, proportion, rarity, color, clarity, and country of origin. Color is the most important factor. GIA descriptions are used in our reports.

  29. Diamonds and many colored gemstones have become increasingly difficult to identify as natural, treated, or synthetic. Treatments vary from obvious to highly difficult to detect or properly identify. Few appraisers, wholesalers, retailers, or independent gem labs have sufficient equipment and expertise to do more than screen out diamonds and gemstones which potentially have issues of treatments or origin. Those which are screened out are those which often require additional examination by a major laboratory for definitive identification, using costly equipment operated by highly trained experts. Consumers should expect and request proper paperwork from their retailer at the time of purchase. Such paperwork reveals the documented natural or other origin of their gem(s), as well as any treatments present. Factual, documented evidence of origin and treatment is the responsibility of the seller to the consumer. Both appraisers and consumers rely on proper evidence. Appraisers always make assumptions to produce reports, but, as of 2015, we more often need to make assumptions of a magnitude which require more scientific analysis than can be provided by traditional gem testing equipment. Since each diamond and gem is unique, a qualified appraiser determines what assumptions should be stated. An appraiser must formulate the correct set of assumptions based on the evidence and history of the diamonds and colored gemstones in the report.

Privacy Statement

Owl Valley Appraisals, LLC is committed to safeguarding the confidential information of our clients. We hold all of our clients’ personal information in strict confidence and in accordance with USPAP and NAJA ethics standards. Our files include information collected from clients in connection with the personal property appraisal services provided by our company. At no time in the past have we ever disclosed information to third parties, except as specifically authorized by our clients, or as required by law, and we do not anticipate doing so in the future. We are prohibited by federal laws, USPAP, and the NAJA Code of Ethics from changing our policy without first advising the client and obtaining consent. We use the personal property information provided by our clients to help meet their appraisal requests, while guarding against any real or perceived infringements of their rights of privacy. Our policy with respect to personal information about our clients is as follows:

We limit all access to information only to those who have a business or professional reason to know, and only to non-affiliated parties as required by law. We maintain a secure office and computer environment to ensure that your information is not placed at unreasonable risk. The categories of non-public personal information that we collect from a client depend upon the scope of the client’s appraisal engagement. This includes information that we collect from a client depending upon the scope of the client’s appraisal engagement. This includes information about personal property assets, information about tax identification numbers, and other non-public information necessary. Additionally, it may include information about transactions between clients and third parties, and information from third party sources. Unaffiliated third parties that require access to our clients’ personal information, such as Federal and State tax regulators may only review company records as permitted under the law. We do not provide client information to mailing list vendors or solicitors for any reason. Personally identifiable information will be maintained during the time a client is a client of the company and for the appropriate time thereafter that such records are required to be maintained by USPAP, and consistent with the NAJA Code of Ethics. After this required period of record retention, all such information will be deleted or destroyed in a manner consistent with providing ongoing confidentiality.