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While gemological laboratories do not assign a monetary value to a product, they play a crucial role in the overall process as they provide trusted, independent grading reports. A credentialed appraiser will take the grading report from an organization such as IGI, review the item and determine its value based on their expert opinion, which again is contingent on the client’s purpose and function for needing (wanting) an appraised value. When it comes to selling price, you’ll also need to consider the market supply and demand as those will influence price as well. Normally, when selling one’s diamond jewelry, the professional appraiser, who should be an accredited member of the American Society of Appraisers (ASA), would for example, look at the item’s fair market value. This is defined a price between a willing buyer and willing seller in the normal marketplace where the item is normally traded. In many cases the appraiser would investigate the public auction market for comparables.