BriteCo is considering combating websites that sell “appraisals” with no verification required by redirecting consumers to jewelers for in-person appraisals or providing a valuation for insurance.
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What is the problem, and why should retail jewelers care?
- Hundreds of consumers are searching online every day to get jewelry appraisals
- They are being directed to websites such as ValueMyStuff.com and J&M
- These websites are charging consumers for so called “appraisals” that require no documentation and no verification!
- When consumers apply for insurance, these so-called appraisals are inaccurate and unreliable
How is BriteCo addressing the problem?
- BriteCo is providing online education and direction for consumers when they search for appraisals on the web
- We’re giving consumers an online option to get connected to our retail jeweler partners for in-person appraisals
- For those unable to get an in-person appraisal we offer an online valuation report for insurance purposes
What do you as a retailer need to know?
- BriteCo will be referring consumers to our network of retail jeweler partners for in-person appraisals
- As a BriteCo Jeweler Partner, we will contact you directly with customer referrals
- Sign up to use our Free Appraisal System to get referrals (if you’ve not already done so)
If you would like to get additional customer referrals at no cost to you, please sign up below.
Why Many Online Appraisals Are a Problem
So-called “Online Appraisals” typically do not ask for any documentation and no item verification.
Q&A
What would BriteCo give?
Direction and education. Direct customers to a local jeweler/appraiser if item needs to be inspected in person or an online valuation report for insurance
How much will you charge?
Appraisal costs for those referred to our jeweler partners will be determined by each individual jeweler. Pricing for the valuation by BriteCo will be tested. It will have to compete with the price point of “online appraisal” companies.
Is the customer informed how much an in-person costs?
The customer is informed that it depends on the complexity of the piece, and pricing for an in-person appraisal is solely determined by the retail jeweler.
Who would perform the valuation report?
A network of highly-qualified certified appraisers or jewelers working with BriteCo.
Are you worried about fraud with your online valuation?
Fraud is always a concern. We are much more worried about fraud from the current customer options in “online appraisals” than the more restrictive verification valuation procedures we would implement.
How do you give retail jeweler partner leads?
Customers will receive your information and you will be informed. This will be tested and likely be managed via email or a phone call.
Leads Are Just One Benefit of Being a BriteCo Jeweler Partner
Automated appraisal system designed by a third-generation jeweler
What you gain as a jeweler partner:
- FREE online Jewelry Appraisal Management System
- No more liability worries
- Automatic pricing guideline
- Expedited replacement claims
- Extra revenue
How your customers benefit:
- Easy claim replacement up to 125% of insured value
- Zero-deductible policies
- Immediate, affordable coverage
- Automatic annual insurance value updates
- Fast and easy jewelry insurance application