Code of Professional Ethics
National Association of Jewelry Appraisers
1. Members of NAJA must conduct themselves in a professional manner and perform competently.
2. A member must maintain professional standards in the jewelry appraisal field.
3. A member must sustain a positive public image and treat all parties fairly and ethically.
4. A member must recognize their independent responsibility to assist the public, the profession, and all parties having an interest in the property being appraised, subject to confidentiality requirements.
5. A member should gather all available pertinent facts, relative to the item being appraised, before arriving at a reported value.
6. An appraisal of jewelry must be a thorough analysis and interpretation of all factors affecting its value. A member must not assign a value until all aspects relating to a specific item have been evaluated.
7. A member must be aware of any potential conflicts of interest which may be involved in a case and full disclosure.
8. A member should be cognizant of current state and federal laws and rulings and regulations which are applicable to the appraisal which is being conducted.
9. A member must maintain their professional competency in the jewelry appraisal field through continuing education.
10. An appraiser must maintain the confidential nature of an appraisal report. No information regarding the appraisal assignment will be disclosed to any third party, without the consent of the original client, unless the appraiser is compelled by court order. The appraisal records must be kept for at least five years, or at least two years after a court case has been adjudicated.
11. Employment or fees must not be contingent upon reported value. An appraiser may not accept an appraisal assignment based in a predetermined description or value.
12. An appraiser must charge a fair and reasonable fee based on the level of professional service, overhead costs and level of expertise rendered.
13. When an appraisal is required for items with which the appraiser is unfamiliar, the appraiser must obtain the assistance of a qualified expert appraiser, and/or appropriate gemological laboratory. The assistance must be disclosed in the appraisal report. When the assistance is substantial, the signature of the assisting expert must be part of the final report.
14. An "NAJA" title denotes competence and high integrity derived from following a high standard of moral and ethical conduct. Regardless of instructions from clients, or monetary inducement, there is to be no advocacy for client's special interests or deviation from this Code of Professional Ethics.
15. An appraiser may express an informal or preliminary opinion as to the value of an item, but should not express that opinion until after all available pertinent facts have been given due consideration,
16. All formal appraisals or certificates of value must be in printed form, signed by the appraiser and must include the following as a minimum:
a. Date of valuation.
b. A description of the items being appraised.
c. A statement of the unbiased and objective conclusions of dollar value reached, together with applicable qualifications or limitations on the conclusions.
d. A statement to the effect that the appraiser has personally examined the items that are the subject of this report, when applicable.
e. A statement as to the assumptions and conditions of the appraisal, of any, and to the conclusions reached.
f. A certification of each appraisal must contain the statement that "This appraisal has been prepared in conformity with the generally accepted professional standards and Code of Professional Ethics of NAJA."
g. Appraisals must be maintained according to the USPAP requirements. An appraiser should keep a file on the items appraised along with any pertinent data from which a conclusion of value was generated. This holds true for preliminary opinions, as well.
h. All members must affix their NAJA designation to formal appraisals unless employer rules specifically forbid personalization of reports issued by a corporation not under the control of the individual NAJA member appraiser.
17. A member must be willing to testify under oath in order to support their conclusions of value in a court of law. Fees for such testimony should be arranged and
contracted prior to trial.
18. NAJA members must make special efforts to avoid misuse of their appraisal documentation.
a. High appraisal values for the purpose of inducing any purchase based on appraiser-provided inflated values are unethical.
b. Low appraisal values for the purpose of stopping a contemplated purchase, or for returning of unwanted merchandise based on under-valuations are unethical.
c. Member must be especially alert to efforts of possibly unscrupulous vendors who offer gems as investments and do not explain, in writing, about the risks of such investment.
d. Appraisers who offer hypothetical reports on items they have not personally examined, but which could be examined, are not providing the best of appraisal services. Such "limited assignment" reports have a high likelihood of damaging a client, damaging one's own reputation or damaging the profession. NAJA agrees that there are times and places for limited assignment hypothetical reports, but strongly advises its members that the creation of a regular business model in appraising "unexamined" items, based solely on gemological reports or other hearsay documentation, is not considered an ethical business practice.
19. The appraiser, after qualification and acceptance by NAJA, agrees to the stipulated annual membership fee. If the appraiser wishes to terminate their affiliation with NAJA, they agree to return to NAJA, all membership materials including certificates, literature, stationery, pins or anything bearing the NAJA seal, emblem or logo.
20. Any violation or infractions of the Code of Professional Ethics may result in a suspension or in a termination of all affiliation with NAJA and the use of its designation may be forfeited. The appraiser also agrees to return to all items under [Article] 19 above, if membership is terminated for such infraction.
21. The name "NAJA" as well as the seal and logo are registered. The use of the name and emblems are limited to those designated appraisers of the association in good standing and their use by anyone else is prohibited.
22. Members agree to conform to this Code of Professional Ethics, the Uniform Standards of Professional Appraisal Practice (USPAP) and the Client's Bill of Rights of NAJA. These items may be amended from time to time.
The terms "appraiser" or "member" as used herein, shall include all candidates and members of NAJA regardless of designation, unless stated otherwise.
2. A member must maintain professional standards in the jewelry appraisal field.
3. A member must sustain a positive public image and treat all parties fairly and ethically.
4. A member must recognize their independent responsibility to assist the public, the profession, and all parties having an interest in the property being appraised, subject to confidentiality requirements.
5. A member should gather all available pertinent facts, relative to the item being appraised, before arriving at a reported value.
6. An appraisal of jewelry must be a thorough analysis and interpretation of all factors affecting its value. A member must not assign a value until all aspects relating to a specific item have been evaluated.
7. A member must be aware of any potential conflicts of interest which may be involved in a case and full disclosure.
8. A member should be cognizant of current state and federal laws and rulings and regulations which are applicable to the appraisal which is being conducted.
9. A member must maintain their professional competency in the jewelry appraisal field through continuing education.
10. An appraiser must maintain the confidential nature of an appraisal report. No information regarding the appraisal assignment will be disclosed to any third party, without the consent of the original client, unless the appraiser is compelled by court order. The appraisal records must be kept for at least five years, or at least two years after a court case has been adjudicated.
11. Employment or fees must not be contingent upon reported value. An appraiser may not accept an appraisal assignment based in a predetermined description or value.
12. An appraiser must charge a fair and reasonable fee based on the level of professional service, overhead costs and level of expertise rendered.
13. When an appraisal is required for items with which the appraiser is unfamiliar, the appraiser must obtain the assistance of a qualified expert appraiser, and/or appropriate gemological laboratory. The assistance must be disclosed in the appraisal report. When the assistance is substantial, the signature of the assisting expert must be part of the final report.
14. An "NAJA" title denotes competence and high integrity derived from following a high standard of moral and ethical conduct. Regardless of instructions from clients, or monetary inducement, there is to be no advocacy for client's special interests or deviation from this Code of Professional Ethics.
15. An appraiser may express an informal or preliminary opinion as to the value of an item, but should not express that opinion until after all available pertinent facts have been given due consideration,
16. All formal appraisals or certificates of value must be in printed form, signed by the appraiser and must include the following as a minimum:
a. Date of valuation.
b. A description of the items being appraised.
c. A statement of the unbiased and objective conclusions of dollar value reached, together with applicable qualifications or limitations on the conclusions.
d. A statement to the effect that the appraiser has personally examined the items that are the subject of this report, when applicable.
e. A statement as to the assumptions and conditions of the appraisal, of any, and to the conclusions reached.
f. A certification of each appraisal must contain the statement that "This appraisal has been prepared in conformity with the generally accepted professional standards and Code of Professional Ethics of NAJA."
g. Appraisals must be maintained according to the USPAP requirements. An appraiser should keep a file on the items appraised along with any pertinent data from which a conclusion of value was generated. This holds true for preliminary opinions, as well.
h. All members must affix their NAJA designation to formal appraisals unless employer rules specifically forbid personalization of reports issued by a corporation not under the control of the individual NAJA member appraiser.
17. A member must be willing to testify under oath in order to support their conclusions of value in a court of law. Fees for such testimony should be arranged and
contracted prior to trial.
18. NAJA members must make special efforts to avoid misuse of their appraisal documentation.
a. High appraisal values for the purpose of inducing any purchase based on appraiser-provided inflated values are unethical.
b. Low appraisal values for the purpose of stopping a contemplated purchase, or for returning of unwanted merchandise based on under-valuations are unethical.
c. Member must be especially alert to efforts of possibly unscrupulous vendors who offer gems as investments and do not explain, in writing, about the risks of such investment.
d. Appraisers who offer hypothetical reports on items they have not personally examined, but which could be examined, are not providing the best of appraisal services. Such "limited assignment" reports have a high likelihood of damaging a client, damaging one's own reputation or damaging the profession. NAJA agrees that there are times and places for limited assignment hypothetical reports, but strongly advises its members that the creation of a regular business model in appraising "unexamined" items, based solely on gemological reports or other hearsay documentation, is not considered an ethical business practice.
19. The appraiser, after qualification and acceptance by NAJA, agrees to the stipulated annual membership fee. If the appraiser wishes to terminate their affiliation with NAJA, they agree to return to NAJA, all membership materials including certificates, literature, stationery, pins or anything bearing the NAJA seal, emblem or logo.
20. Any violation or infractions of the Code of Professional Ethics may result in a suspension or in a termination of all affiliation with NAJA and the use of its designation may be forfeited. The appraiser also agrees to return to all items under [Article] 19 above, if membership is terminated for such infraction.
21. The name "NAJA" as well as the seal and logo are registered. The use of the name and emblems are limited to those designated appraisers of the association in good standing and their use by anyone else is prohibited.
22. Members agree to conform to this Code of Professional Ethics, the Uniform Standards of Professional Appraisal Practice (USPAP) and the Client's Bill of Rights of NAJA. These items may be amended from time to time.
The terms "appraiser" or "member" as used herein, shall include all candidates and members of NAJA regardless of designation, unless stated otherwise.
National Association of Jewelry Appraisers P.O. Box 18 Rego Park, NY 11374
[email protected] www.NAJAappraisers.com
Phone 718-896-1536 Fax 718-997-9057
[email protected] www.NAJAappraisers.com
Phone 718-896-1536 Fax 718-997-9057