Services
Trust & Estate Appraisals
Estate jewelry appraisals are required in some situations such as inherited property, equitable distribution between heirs, estate taxes or planning, legal settlements, trust and conservatorship formation, and state probate. There are other instances in which jewelry is required to be appraised, please consult with your tax attorney to determine if an appraisal is necessary.
The basis of estate jewelry appraisals is Fair Market Value, which is defined by the IRS as, “The price that property would sell for on the open market. It is the price that would be agreed on between a willing buyer and a willing seller, with neither being required to act, and both having reasonable knowledge of the relevant facts.” Typically, Fair Market Value is lower than Retail Replacement Value.
These are some common situations in which an estate jewelry appraisal is necessary:
Equitable distribution or planning of a trust or estate
Estate tax filing or settlement
Trust and conservatorship formation
State probate
Insurance Appraisals
Insurance jewelry appraisals protect the value of your fine jewelry in the unexpected event of loss, theft, damage or misplacement. Insurance companies require detailed appraisal reports written by a qualified professional appraiser to obtain proper coverage. Our appraisal reports include highly detailed descriptions and photographs, in addition to current market research to best support the accurate valuation of your jewelry. With the continuously changing state of the metal and gemstone markets, it is recommend to update insurance appraisal reports every 3 to 5 years.
Retail Replacement Value is the basis for insurance appraisals, which is defined by the National Association of Jewelry Appraisers as, “The amount one would have to pay (buyer’s cost) to replace an item with another having similar qualities (like kind, quality, condition, age; providing comparable enjoyment, usefulness and other ownership rights) within a reasonable amount of time in the relevant marketplace.”
Common situations in which an insurance jewelry appraisal report is necessary include:
To obtain insurance coverage on personal jewelry items
Understanding the replacement value of inherited or purchased items
Post-Loss appraisals, in the event that your jewelry has already been lost or damaged
Jewelry Inventory & Cataloging
Are you not sure if you need a formal written appraisal? We also provide inventory and cataloging services for your personal documentation and other uses. This itemized listing includes photographs, descriptions of the jewelry and its condition, and a current value basis, typically Fair Market Value.
Clients for these types of jewelry consulting services include private individuals, auction houses, the jewelry trade, as well as banks and attorneys.
Situations in which a formal appraisal is not necessary, but inventory and cataloging services are helpful include:
Organization and valuation of an extensive jewelry collection, inherited or gifted
Documentation of jewelry for record-keeping, including proof of ownership
Preparation of jewelry for sale at auction or other secondary marketplaces
