Because of the fraud inherent with gemstones, there are additional layers to what PI is rightfully stating. Just a few preliminary questions:
What kind of goods are they?
Condition and quantity?
Are the gems rough or finished? This is most critical.
Where are the stones deposited? Is the ownership clear?
Appraisals, sure, but this is one area where the hairs must be split. Not only a "registered" appraiser is needed, but the appraiser needs the highest insurance "rating" which is a "court-witness" status. This cant be faked or hedged. GIA GG appraisals are a dime a dozen there are stories you wouldnt believe.
What kind of insurance and how is the insurance coverage amount determined: i.e., wholesale; retail insurance replacement; investment-grade; etc. Everyone that we have dealt with regardless of their planetary coordinates will eventually require a wholesale valuation, usually inter-trade. Forget insurance replacement (which is usually off of retail.).
The hypothecation of gems is a monumental task, because, if you have anything other than diamonds, you are in subjective waters; and the waters are subjective because thats what the colored stone industry wants. You are at odds with dynamics that are not in your favor.
Unless you have first-hand, working knowledge of the gem business, you will not find out about these intricacies until you are knee-deep into the process; in other words, after you have spent tens of thousands, you will be hit with the need to spend tens of thousands more because you have not yet spoken with the principal (who I call the check-writers) who will demand a certain level of clarity that has gone over the heads of everyone else you have dealt with.
If brutal honesty is not your bailiwick, do something else.
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