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Types of Appraisals

St Louis Jewelry RepairsSeveral seldom used appraisal types are not listed here. These are the most common.

Replacement Value: A replacement value appraisal is an estimate to establish the current replacement value of the appraised jewelry. Replacement value is defined as the cost necessary to replace an item with a comparable item of like kind, quality, and similar utility at current prices to the item being appraised. Unless otherwise noted, this definition assumes that the item being appraised cannot be substituted new with an exact duplicate. This type of appraisal is often used for insurance purposes.

Donation: A donation appraisal is an estimate of the fair market value of the appraised jewelry. For donation purposes, the fair market value is defined as the statistical mode of the prices at which the greatest number of arms-length transactions take place between willing buyers and willing sellers, where both parties have reasonable knowledge of the relevant facts and neither is under the compulsion to act. This holds true for items of like kind and quality in their present state at the time of donation, in the most common market in which they would be sold to the ultimate consumer, for a purpose other than resale, in their purchased form.

This report will meet the relevant requirements of the IRS Regulations Section 1.170A-13(c)(3) and Notice 2006-96, 2006-46 I.R.B.902 as of the date of this report until amended. (IRS Publication 561)

Estate: The conditions of an estate appraisal and a donation appraisal are similar. An estate appraisal is an estimate of the fair market value of the appraised jewelry. For estate tax purposes, the fair market value is the statistical mode of the prices at which the greatest number of arms-length transactions take place between willing buyers and willing sellers, where both parties have reasonable knowledge of the relevant facts and neither is under the compulsion to act. This holds true for items of like kind and quality in their present state, in the most common market in which they would be sold to the ultimate consumer, for a purpose other than resale.

This report will be prepared for federal tax purposes and meet the relevant requirements of the IRS Regulations Section 1.170A-13(c)(3) and Notice 2006-96, 2006-46 I.R.B.902 as of the date of this report until amended. (IRS Publication 561)

Liquidation Appraisal: A liquidation appraisal is requested when the owner wishes to convert jewelry into immediate cash and results in a lower price than other types of appraisals. Liquidation market price is defined as the price that can be expected in a sale to the public, time not being of the essence. This applies to bankruptcy and other liquidation issues.

Consultation: In addition to appraisals we also offer jewelry consultations. This basic information is what many people seek to determine if further documentation is needed. A consultation may be the first step taken to separate fashion (costume) jewelry from fine jewelry in an estate settlement or to determine which pieces in your jewelry collection need to be insured.

Although not an appraisal, since no value is determined and no written report is prepared, this advice is given in conformity with the standards of the American Gem Society.

Please call or contact us for an appointment. There is no charge for the first five minutes. Thereafter the charge is $110 per hour.

Appraisal Fees & Pricing