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Appraisals
What's in an appraisal report ?
What is in an appraisal report?
Appraisal reports provide a detailed description of an item including type of metal, purity, trademark or hallmark, dimensions, weight, method of manufacture and style, period and provenance accompanied by high quality color photographs.
Diamonds and gemstones are described by weight, color, clarity and cut. Diagrams of internal characteristics are provided along with verification of laboratory reports.
Each item is researched to establish appropriate value for the specific purpose. (Insurance, Estate, Liquidation, Taxation)
Types of Appraisals
What type of jewelry appraisals do you need?
Insurance Replacement:
The most important and common reason for having a jewelry appraisals done is for retail replacement value in case of loss, theft or damage, engagement rings being at the top of the list. A jewelry appraisal provides you with protection for proper reimbursement.
In the event of loss or damage your appraisal describes your item in exact and extensive detail- stone measurements, clarity, and color – quality and value of the item. With this information, you can get the original item replaced with a similar one.
Diamonds and gemstones of the same size can range drastically in value according to their specific qualities and characteristics. Your appraisal provides protection and assurance that the replacement is equal to the lost or damaged item.
Most jewelry insurance companies request an appraisal for items above a certain value, for their homeowner’s policy. The appraisal validates their existence and condition, and determines proper coverage and premiums for the policy.
Fair Market Value Appraisals:
The price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts.
Estate Appraisals:
IRS regulations mandate that fair market value is used to value the objects owned by a deceased person, and an appraisal of all their assets is done for tax and distribution purposes.
Immediate Liquidation: Appraisals:
Generally, a liquidation value appraisal is based on the immediate cash value of your item, and is its lowest valuation for items likely to be recycled, such as low quality, less desirable items, or broken jewelry.
