Why choose the JET Foundations of Appraisal Practice?

The ATHE Level 3 JET Certificate in the Foundations of Appraisal Practice (FoAP) qualification is the crucial first step for an aspiring valuer. It is one of the pre-requisites for joining as a full practising member of the NAJ’s Institute of Registered Valuers (IRV), the recognised professional body for valuers of jewellery, silverware and watches in the UK.

✔ Provide students with a detailed understanding of the IRV

✔ Hands-on experience of undertaking a valuation

✔ Practical guidance on the legal, ethical and commercial aspects of running a jewellery valuation business

✔ An engaging and supportive online learning environment accessible to full-time and part-time staff

✔ Signposts a clear career pathway within the industry.

 

On completion of the JET Foundations of Appraisal Practice, you will:

✔ Understand the meaning of and relationship between 'price', 'cost' and 'value'

✔ Understand the cost and market data approaches to valuation

✔ Understand different purposes and intended uses for valuation

✔ Understand market levels of valuation and categories of replacement value

✔ Understand the valuation take-in process

✔ Be able to undertake a valuation.

 

All JET Foundations of Appraisal Practice students are eligible to enrol as Student Members of the IRV at no additional cost.

 

Overview

Suitable for: Aspiring valuers of jewellery, silverware and watches

Duration: 24 months (can be completed sooner)

Assessment: Seven written assignments

Centre Recognition: Awards for Training and Higher Education (athe.co.uk)

Qualification:  ATHE Level 3 Certificate in the Foundations of Appraisal Practice

Fee: Non-NAJ Member £2175+VAT, NAJ Member £1950+VAT

 

Entry Requirements and Recommendations

Required

  • A minimum of three years trade experience.
  • At least 5 GCSEs or 'O' Levels (or equivalent international qualifications).
  • English Language level of (CEFR B1- intermediate, independent user) as demonstrated by IELTS score of 4.0-5.0*.

*required for English as a Second Language.

Recommended

  • Gemmological and/or diamond qualification(s) and/or gemmological trade experience.

 

Course Structure

Qualification learning is broken down into two parts:

A modular online learning programme helps students understand:

  • The theory behind the basic approaches to determining value
  • The forces that affect value
  • How to research and interpret comparables The components of the written valuation
  • How to develop and record the narrative to support the value conclusion determined

three-day practical valuation techniques workshop enables students to get hands-on with the JET Foundations of Appraisal Practice's theoretical knowledge.

View Practical Valuation Techniques

 

Units

There are two online learning units:

Unit 1: The Basic Principles of Jewellery, Silverware and Watch Appraisal

This unit teaches the student the basic principles and concepts underpinning the appraisal of jewellery, silverware and watches. This will include:

  • The Basic Principles and Concepts of Appraisal Theory
  • The difference between price, cost and value
  • Analysing prices to determine value
  • The purpose, function and intended use of a valuation
  • Different valuation approaches
  • The different types of valuations
  • Different market levels for different types of valuation.

Unit 2: Practical Approaches to Appraising Jewellery, Silverware and Watches

In this unit, students will further develop their theoretical knowledge of matters specific to jewellery and gem appraisal and learn the practicalities of producing professional valuations that are consistently accurate.

  • Take-In Procedures
  • Worksheets
  • Provisional Appraisal Procedures
  • Mandatory Appraisal/Cataloguing Procedures
  • Researching and Recording Gem and Metal Prices for the Cost Price Approach
  • Researching and Recording Gem Prices,Metal Prices and Comparables for the Market Data Approach
  • Guide to Mark-Ups
  • Descriptions
  • Recording the Details (Factual Data, Judgements and Assessments).

Bonus content (not assessed)

 As a student IRV member, you will also have access to a wealth of tips, advice and guidance on the legal, ethical and commercial aspects of running a successful jewellery valuation business, including:

  • Legal matters
  • Ethical matters
  • Commercial matters
  • Software
  • Security

 

Assessment

The JET Foundations of Appraisal Practice qualification assessment consists of seven written assignments - four for Unit 1 and three for Unit 2. These challenging written assignments push students on all of the learning outcomes of the qualification.

Upon successfully completing the qualification, graduates are invited to attend our annual Awards Ceremony, which takes place in March at Goldsmith’s Hall in London, where your Certificate will be presented.

You will also have the opportunity to work with an IRV Mentor who will support your continued journey towards Membership of the Institute of Registered Valuers (MIRV).

 

Edu quote template just text JET general

Booking

Fees

Non-NAJ member £2,175+VAT

NAJ Member £1,950+VAT

All bookings are subject to the NAJ's Terms and Conditions.

 

Funding

Full or part-funding may be available via Association Financial Support, however funding must be applied for before enrolling onto the programme.

 

Frequently Asked Questions

How does FoAP differ from CAT?

The Certificate of Appraisal Theory and the JET Foundations of Appraisal Practice qualifications contain the same high quality of learning materials, focusing on the principles and concepts of jewellery, watch and silverware valuation. Students on both qualifications are supported by high calibre Advisors, all practising valuers and highly regarded Fellows of the Institute of Registered Valuers. The main difference between the two qualifications is that the JET Foundations of Appraisal Practice incorporates a focus on the practical elements of undertaking a valuation. Students will attend the Practical Valuation Techniques workshop and will prepare valuation documentation as part of their assignments.

Why has FoAP been introduced?

The JET Foundations of Appraisal has been introduced in response to student feedback. Students have frequently asked for more help and support on the practical elements of undertaking a valuation so that they are more adequately prepared to apply for membership of the Institute of Registered Valuers. This is why the NAJ initially introduced the Practical Valuation Techniques workshop.

The next logical step was to incorporate the practical side into the qualification itself.

Why doesn’t FoAP have an exam?

The JET Foundations of Appraisal Practice will be rigorously assessed via the seven assignments, covering all of the learning outcomes and assessment criteria for the two units. These assignments will be marked as Pass, Merit or Distinction, by the Advisors, and NAJ and ATHE moderators will check their marking.

The course follows modern assessment practice, which puts less emphasis on exams for testing skills, knowledge and behaviours in professional areas, and focuses more on using realistic scenarios to test the skills, knowledge and behaviours that the student will require to do the job.

Will my CAT qualification still count toward membership of the IRV

The Certificate of Appraisal Theory (CAT) will continue to count as one of the pre-requisites for membership of the Institute of Registered Valuers. There will be no additional requirements placed on applicants with CAT. However, some CAT students may still choose to take the Practical Valuation Techniques (PVT) workshop as part of their preparation for becoming a Member of the Institute of Registered Valuers.

How do I progress from being a successful FoAP graduate to being a Member of the IRV?

On successful completion of the JET Foundations of Appraisal Practice, you will have the opportunity to work with a current Member or Fellow of the Institute of Registered Valuers. They will help and support as you consolidate your learning, undertake more practice valuations and begin to prepare your application for membership of the Institute of Registered Valuers.

What is the ATHE?

The ATHE (Awards for Training and Higher Education) is an awarding organisation (similar to City and Guilds, AQA or Edexcel) that specialises in supporting bespoke professional qualifications.

What is the ATHE’s role?

The ATHE helped the NAJ get the JET Foundations of Appraisal Practice qualification recognised on the Regulated Qualifications Framework (RQF). Once the qualification is on the RQF, it is nationally and internationally recognised. This means that employers and colleagues will easily recognise the size, level and value of the qualification you have achieved.

What does Level 3 mean?

The qualification 'level’ relates to the level of stretch and challenge that the qualification demands. The JET Foundations of Appraisal Practice qualification is Level 3 and demands a similar challenge to an 'A’ level.

Why is the full title JET `Certificate’ in the Foundations of Appraisal Practice?

The addition of the word `Certificate’ in the title helps people understand the qualification's size. A Certificate can take anywhere between 121 and 369 hours of study! The JET Certificate in the Foundations of Appraisal Practice will take around 200 hours to complete.

What does RQF recognition mean?

Regulated Qualifications Framework (RQF) recognition comes with a series of responsibilities for the NAJ, designed to ensure that the student’s learning is of the highest possible standard. The awarding organisation (Awards for Training and Higher Education), on behalf of Ofqual (the national qualifications’ regulator), will make regular external checks to ensure that assessment is being carried out to nationally recognised standards and that well-designed learning resources and assignments are supporting student learning. You can be assured that the qualifications you pursue with the NAJ will be of the best quality possible.

View ATHE

 

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