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Why do you need an Appraisal?

To determine the replacement cost for insurance purposes. An accurate appraisal is the key document to provide your insurance company with details of what makes your jewelry distinct.

An accurate judgment of value will safeguard you from paying inflated premiums for over-valued items but also, a comprehensive appraisal will ensure that you receive equal or better replacement value in the event your jewelry is lost or stolen.
Some insurers have a repair or replace policy. This puts focus on the description of your jewelry as well as the value, making an accurate description of the distinctive characteristics of your piece critical to any appraisal.

To determine the Fair Market Value when required for estate purposes.  This could include a list of the items in a taxable estate or to ensure equitable distribution among heirs.

To determine actual cash value in the case of an insured loss.  Casualty is loss allowed by the IRS as an income deduction for lost items not recoverable by insurance based upon documentation that establishes values for the lost articles.

In the case of divorce.  The parties or attorneys may request an appraisal for the dissolution of commonly held property.

In the event of a charitable donation.  An appraisal is required if jewelry or gemstones are donated to a public institution, charity or museum.

Liquidation of assets as in the case of bankruptcy.

As documentation in the event you are selling the jewelry.  In this case, we find it unethical and will not appraise your jewelry and then bid to purchase.

We would not suggest an appraisal simply because you are curious about the worth of Aunt Minnie’s brooch. In most cases we can quickly determine if an appraisal would be of any benefit to you.