Starting a Business in Maine (Portland: insurance, houses, buy)

[GFWMS]

I am an Independent Jewelry Appraiser and want to relocate to Maine to start my business. It is an area I've always wanted to live in and since I am developing my business, now seems like a good time. I would need to connect with Insurance agents and jewelry store owners to market my services. Any comments or suggestions would be greatly appreciated.

[Maine Writer]

Make the connections now and find out if there's a need for the service. How are jewelry store owners appraising jewelry now?

[RANGER.101ST]

Originally Posted by GFWMS

I am an Independent Jewelry Appraiser and want to relocate to Maine to start my business. It is an area I've always wanted to live in and since I am developing my business, now seems like a good time. I would need to connect with Insurance agents and jewelry store owners to market my services. Any comments or suggestions would be greatly appreciated.

i would get a big phone book and start calling people.
what kind of jewelry do you appraise?all types or just specific type.
why i ask is i have a necklace mad out of shotgun shells and beer cans .
i think its nice but others aren't amused.

[GFWMS]

Beauty is always in the eye of the beholder!

I can appraise any type of jewelry, I also have experience evaluating different types of ivory carved items, jewelry as well as other.

[Acadianlion]

Originally Posted by GFWMS

I am an Independent Jewelry Appraiser and want to relocate to Maine to start my business. It is an area I've always wanted to live in and since I am developing my business, now seems like a good time. I would need to connect with Insurance agents and jewelry store owners to market my services. Any comments or suggestions would be greatly appreciated.

I have the usual comments and suggestions. Let's begin with a basic understanding of the State of Maine and its population. There are 1.3 million people in the entire state. The average income of the people in Maine is very, very low. The number of people who buy and hold jewelry and need appraisal services is reflected in the general number of people who live here.

What you need to do is to find out how many people there are who on some basis ask to have jewelry appraised. I recently had an antique scarab appraised and found the one appraiser in Maine who is qualified by education and training to appraise the artifact. That does not mean that there is room for more, but it does indicate that there is a very shallow pool of customers for such appraisals.

I owned several general insurance agencies here in Maine in several different markets. While I did not have a lot of personal lines business in general, I did insure commercial businesses and often their owners' personal effects through reasonably high level homeowners' insurance policies. I think in the years that I was in the business I NEVER had to recommend an appraiser for jewelry or anything else.

Now, prior to moving to Maine in 1977, I was manager of a large general insurance agency on Cape Cod. There it was fairly routine to insure large jewelry and personal property schedules that required extensive documentation of value by appraisal. I well remember one or two policyholders who had schedules that required them to notify either the agency or the company direct when they were removing certain items from safe deposit boxes for wear, and when the items were replaced. This seldom if ever is normal procedure in Maine.

In sum, I think you will find it hard sledding in Maine for the five or ten years it will take to establish yourself throughout the state, and even then, you may need a "day job" to make ends meet.

Were it my choice, I would go to someplace where there are more wealthy people...south Florida comes quickly to mind.

Remember the basic numbers: 1.3 million people scattered over an area larger than all five other New England states combined.

[medievalbooks]

Am wondering if you should be checking into some of the big name auction houses. Not sure what name auction houses there are in Maine. That would deal with high end antique jewelry and have need of an appraiser and be willing to pay for one.

At one time I gave some thought to becoming a licensed appraiser for rare books..gave that idea up when folks just wanted to know what their books were worth but didn't want to pay for the information. Now when they ask for an appraisal of their stuff - I just ask em if they are selling it and then let em know what I will pay or if I don't want it, what they could maybe hope to get for it maybe. Have yet to have someone (outside of a library that I didn't charge since I am not a licensed appraiser) ask for a bona fide appraisal.

[mensaguy]

You might want to check with the Maine Antique Dealers Association and/or the Maine Auctioneers Association for help deciding if an appraisal business could work in Maine.

I just noticed that one business lists an Auctioneer & Appraiser License number. I know Auctioneers need to be licensed, but it might also be worth checking to find out if Appraisers also need a licenses.

[GFWMS]

To All who have responded to my post, thanks for the advice. I will definitely follow-up on the suggestions from all.

[elston]

I do see some estate jewlry stores in Portland... Stonehome Estate Jewelry » Home .but I would think they must have someone who does the appraisals.....but you are the one opening the business....so perhaps you know how to develop the clientel and customer base. I have a couple of pieces of antique ivory and or bone that I am curious about.

[island mermaid]

In my own personal experience, most jewelry stores use their own in house appraisers. I had purchased all of my jewelry at the same local chain jewelry store ( GMP) and I needed to put a rider on my home owners policy. Everything was done in house.

Best of luck to you in your research.