A written estimate of the approximate retail replacement value of the item described. They can be used for insurance purposes and should be updated every few years.
Not all appraisers have the same level of integrity, as with anyone in business. I have found that some appraisers abuse the mystique as the “independent expert”, when they are not as independent as they should be. I have had to intervene in several instances where the appraiser “lowballed” a diamond (which I knew to be excellent in quality and value) to convince the buyer to return it and buy from the appraiser instead.
It is for this purpose that I created this service, and the jewelers I have tested have very high integrity, and I would use their appraisals over getting an independent one anyday.