AND  EXACTLY  WHAT  IS  A  JEWELRY  APPRAISAL ?

A jewelry appraisal is a report that describes an item of jewelry in detail and assigns a value to the jewelry based on the purpose of the appraisal. 

It contains a very detailed description of the item being appraised. This is most important.  Appraisals contain many elements and because of that, must be multi page documents in order to be complete. 

A professional appraiser will provide you with a written opinion of value, on which you and others involved can base your decisions.

“What should I look for in a professional  jewelry appraisal ?”

1) A cover letter that includes an explanation of the allowed use of the appraisal and the type of value being sought.

2) The appraisal should state any limiting conditions such as stones examined in the setting, not out of the setting.

3) A plotting diagram of the identifying characteristics of the main diamond or color gem.

4) The standards used in grading the diamonds and color gems.

5) Descriptions of the items being appraised with conclusions drawn.

6) Color photos of the items being appraised.

7) A description of the lab work performed, as well as any other support material not found in the cover document or appraisal body.

8) A glossary of technical terms used.

9) A profile of the person performing the appraisal.

Lastly……..a reputable appraiser will never charge you based on the value of your jewelry.  The fee will be based on the item(s) or an hourly rate.  Make sure you find out before the appraisal.

Do I need my jewelry appraised ?

Not sure? Well……..I know this. People treasurer their jewelry more than other items of personal property.  That’s just the way it is.  And people want to protect their treasures.

So…………..have you asked yourself any of these questions ?

            * Do I have too much or too little insurance for my jewelry assets ?

            * What are these jewelry assets worth for Estate Tax purposes ?

            * What about Tax Deductions if I donate my jewelry assets ?

            * Is my jewelry worth what I paid for it ?

            * If I sell my jewelry will it be at the wrong price ?

            * How do I confirm the quality and value of my jewelry ?

If you have asked any of these questions you just might need a jewelry appraisal.