2021 RECERTIFICATION ABSTRACT BOOKLET

2021 RECERTIFICATION

ABSTRACT BOOKLET

ALL TITLES & DESIGNATIONS

TM

STAND OUT. RISE ABOVE.

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TABLE OF CONTENTS

Appr aising

Appraiser vs. Advocate: Know the Difference

4

USPAP & Advanced Appraisal Report Writing

6

Authentication vs. Identification

9

Safeguarding of Client Data

11

Appraisal Self Defense

13

Business Management

The Loyalty Loop: The Small Things That Add Up to Big Business

15

Protect Your Jewelry Business from Cybercrime

18

The Bionic Consumer

21

No One Noticed but the Bottom Line

23

Business Transition and Succession Planning

25

Diversity & Inclusion

7 ways retailers should work to create a more inclusive shopping experience in their stores,

according to the head of diversity and inclusion at Unilever

27

Gemology

A Comparison of Diamonds and Colored Stones: Geographic Origin to Geology and More

29

Diamond Ages: Are Diamonds Forever?

30

History of Engagement Rings

31

Melee Diamond Analysis

32

Fascinating World of Pearls and Shells

33

The Microworld of Gemstones

34

Geology 101 for Gemologists: The Natural Processes that Form Colored Gemstones

35

A Symphony of Light ? Selling Light Performance with the AGS Ideal?

36

Diamond Plots ? The Importance and Uses of Accurate Plotting

38

Today's Challenges of Valuing Colored Gemstones

41

Legal & Compliance

Three Reasons Jewelry Businesses Should Address Racial Discrimination Now

43

Pandemic Marketing: The Law Still Applies!

45

M ar k eting

Leveraging Funnel-Specific Audience Targeting Tactics with Facebook/Instagram Ads

46

Omnichannel Realities: Merging Online, Offline & Every Touchpoint In Between

49

Social Media Trends and Developments

51

Evergreen and Omnichannel Approaches in 2021

53

Sales

How to Sell More Jewelry

55

Non-Verbals in Customer Communication

57

How Salespeople can Harness Social Content to Increase Sales

60

Become A Master at Virtual Customer Visits

64

3 | 2021 INFORMATIONAL ABSTRACTS

APPRAISING

APPRAISER VS. ADVOCATE: KNOW THE DIFFERENCE

Laura Stanley, CGA Instructor

APPRAISALS

It is important for American Gem Society (AGS) members who write appraisals to observe the AGS Minimum Appraisal and Report Guidelines as outlined in the Membership Manual. Included in this is the importance of knowing the difference between appraiser and advocate.

In the AGS Membership Manual, you will find many guidelines for being a professional jeweler and AGS member. Today, we are looking at how two of these standards relate to writing appraisals. Keep in mind, any titled document you produce in writing has the result of being considered an appraisal by consumers and the law. Title it appropriately, but always keep in mind that when you sign a report, appraisal, description, or receipt, it is a legal document.

AGS Minimum Appraisal and Report Guidelines: Standards for Appraisals Professional Practices, item "y"

Avoid suppression or minimizing of any facts, data, or opinions that, if fully stated, might affect the accomplishment of a client's objective in the writing of a report, or in giving exposition of it before third parties, or in giving testimony in a court action. The appraiser should avoid adding any irrelevant data or unwarranted favorable opinions or place an improper emphasis on any relevant facts for the purpose of aiding a client in accomplishing the clients' objective. If one suppresses facts or adds irrelevant opinions or data, one becomes an advocate. Advocacy is described as an action that affects adversely the establishment and maintenance of trust and confidence in the results of professional appraisal practice Professionally, advocacy is declared an unethical practice.

Reports, item "v"

If one is employed as an advocate (counselor/advisor) it is prohibited to use the word "appraisal," or any of its synonyms in the report, and the exact advocacy relationship must be disclosed prominently in the report. This does not preclude taking on the role of an appraiser after that.

The importance of being impartial when appraising cannot be overstated. The ways you might slip into advocacy are:

? Embellishing quality or condition

? Omitting remarks on poor quality or condition

? Referencing inaccurate lab reports without correct information

? Skipping trademark details

? Omitting manufacturing details, when known

? Overemphasizing rarity

? Assuming you know how easy or difficult a piece may be to sell and factoring that in to the appraisal

? Omitting provenance when known

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APPRAISING

In some instances, it is perfectly acceptable to be an advocate for your client and their jewelry. You are capable and encouraged to do so when needed. This is critical if you have a financial interest in the items. It must be disclosed in your report writing.

In The Practical Guide to Jewelry Appraising, by Cos Altobelli, ECGA, reminds us that every opinion is important. Make choices that produce the right type of report and reflect ethical behavior on your part. If any of your documents end up in court, this can better protect you.

One motivation for limiting manufacturer and trademark information is the assumption you will be the jeweler to make the replacement if a loss occurs. You can't know or guarantee this, so it is important for your client's future needs to spell-out every detail you can.

Also, if you sold an item for substantially less than the value, make a note of why. It will save everyone a lot of time in case the appraisal, item, or ownership is disputed in the future. The information will be right there in print.

The "Professional Practice Standards" section gives great detail and insight into ethical and professional practices for all AGS members. Although it is easy to read the standards once and never refer to them again, it is in your best interest of thorough professionalism to review on a regular basis, especially because they can change with the times. Granted, some minutiae won't come in handy every day, but keeping the standards top-of-mind is important.

For all members, but especially CGAs who produce appraisals reflecting the quality and training of AGS, it is also recommended you review the Report Standards regularly. We all get into a groove and it's easy to forget details that don't come up every day. They are always subject to change and it is incumbent upon you, the appraiser, to know what is current.

Key Takeaways

? Know your assignment in order to know your function.

? When you appraise, be objective and strictly accurate.

? Stay up to date with new information and standards.

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