OK, in a nutshell, the characters in my games generally need to have magic items identified – for the most part. There is often some clue with certain items. Protection necklaces and rings often are in the shape of a shield. And it is safe to assume that a potion with little feather bits floating around will be feather fall or levitation or something similar.
If a player uses the item a bit, like fighting with a magic weapon, they will usually find out on their own what it does (I assume a seasoned fighter can tell the difference between a normal sword and a plus 2 one after a few rounds of combat).
But I never really bother with making the characters take gems and jewelry to town to get appraised. I just tell them the worth (which, if I feel like it, I can have vary depending on what part of the lands you are in – certain gems may be worth a lot less to dwarves than they are to humans) and that is that. It’s just easier, and doesn’t seem to detract from the game. The players sure don’t seem to mind.
I guess I may be robbing them of certain role-playing opportunities, but really, there are better things to do in the big city than spending an afternoon haggling in a jewelry shop.
So how do you handle this?