Large model valuation of jewelry will fail; specialized models + on-chain credentials are the proper approach.

At the "From Appreciation to Configuration" forum, Professor You Yang pointed out that general large models often hallucinate in jewelry appraisal, potentially mislabeling non-Cartier as Cartier, and overestimating resale prices far above actual market values, making them unusable for real transactions. The specialized small models he demonstrated are based on global auction, second-hand platform, and wholesale data, achieving precise identification, real-time price comparison, and dynamic interval valuation. Blockchain empowerment can generate on-chain digital certificates, supporting fractional issuance and secondary trading. As a result, non-standard assets are moving from niche circles toward investable and tradable digital financial products.