High-end jewelry appraisers can provide valuable services to people who own diamonds and jewelry or are in the process of buying diamonds and jewelry.
First, the high-end jewelry appraiser can identify your jewelry as to the material, quality, artistry, condition, and other characteristics that influence the item’s value. For example, diamonds that appear similar to the eye can vary in terms of color, clarity, cut, fluorescence, measurements, and durability. These are all factors that uniquely identify one diamond from another and can cause the value of one stone to be more than double that of another, even if they are identical to the unaided eye.
Second, the jewelry high-end jewelry can estimate the value of the jewelry item. The definition of value can vary depending on the purpose of the appraisal. For example, an appraisal value could be quite different if the goal is 1) selling the item, 2) purchasing an item from a retailer, 3) ensuring the item after purchase, 4) settling an estate, 5) distributing property in a divorce, or as an expert witness in a lawsuit.
Third, the high-end jewelry appraiser is a witness to the existence of the property. This is important in the process of filing an insurance claim for the loss of an item where proof might be required that the jewelry existed at a certain point in time and was in a certain condition. This is why a law firm should insist on examining the jewelry item when updating an insurance appraisal.
New Orleans Saints quarterback Drew Brees has been awarded damages over $6 million in the lawsuit he filed against a San Diego-area jeweler that Brees claimed sold him excessively overpriced diamonds.
Brees and his wife alleged that Vihad Moradi of CJ Charles Jewelers lied to them about the value of diamonds, which they said they bought as an investment. The Breeses testified that Mihada told them the diamonds were valued at over $15 million when they were not. The Superior Court jury awarded $6,130,767 in the case, per the San Diego Union-Tribune. “It was our position that Mr. Moradi breached his fiduciary duty, and that’s essentially what the jury said,” attorney Andrew Kim stated, per the Union-Tribune. “They saw Mr. Moradi for exactly what he is: a grifter and a confidence man.”
Brees and his wife were not present in court when the verdict was read, but they each testified during the two-week trial. For his part, Moradi denied the allegations. As noted by Pro Football Talk’s Mike Florio, Moradi’s attorney has already declared an intention to appeal the verdict, so the $6 million-plus will not be in the Breeses’ hands right away. This process will likely continue to play out in the courts for several more months.
What Does the Lawsuit Say Exactly?
The lawsuit claims that Harris Jewelry engaged in “illegal, fraudulent, and deceptive” conduct when it entered into financing agreements with and sold jewelry to active-duty servicemembers. Specifics on the suit’s allegations can be read below. Lastly, the lawsuit claims Harris has received numerous complaints from consumers about the quality of its jewelry.
The suit says the most common problems are:
- Chains breaking
- Jewelry turned skin green
- Stones fell out With regard to the last issue, the suit claims some people had their jewelry repaired, only to have the gems fall out “again and again.”
How Could a law firm Help?
If a class action is filed and is successful, service members may be able to get back any extra money they paid out due to Harris Jewelry’s allegedly illegal and deceptive conduct. It could also change the way the company operates and prevent other people from being duped by Harris Jewelry’s marketing.