jewelry-appraisal-neenah-oshkosh-wi-j-anthony-jewelersOver the past thirty one years as a professional jewelry goldsmith and trained by the Gemological Institute of America (GIA) I have provided thousands of appraisal documents for my clients. The first question one must as oneself is what do I need this appraisal for? The two most common types, Insurance Appraisal, and Estate Appraisal will be discussed in this blog. There are several more types that can be addressed and you should contact my office to discuss further with me.

Insurance appraisal:  As implied by its name the purpose of this appraisal is to accurately describe the item or items for the sole purpose of insuring the items with a insurance carrier against loss or damage of the item. The value declared will reflect the retail value of replacing the item with current items that are of comparable quality and trademark from comparable types of retail outlets. For example the cost to replace a five carat diamond sapphire bracelet would cost one amount from an internet discount source versus a brick and mortar chain store, independent jewelry or international designer guild store.  The appraisal needs to contain certain information.  First it should have at least one or more pictures of the item from different angles, Have measurements of the gemstones as well as their shapes. Identity of the gemstones and if natural, synthetic or simulated. Accurate gemological description regarding color, hue, clarity. In addition individual weight when known or the estimated weight. Type of metal, the weight of the item or items.

Estate Appraisal; Often families, trustees of estate or executor’s of an estate need to determine value of items for the sole purpose of settling an estate. This is different than an insurance appraisal at the very basis that it is not intended to be replaced but distributed among heirs. This type of appraisal will have all the same information however the valuation method will change to reflect a value that normally is less than retail replacement value. It is a value that could be reasonable obtained without duress. It is not a value often determined by the request of “I must sell this today”.  It is assumed under this appraisal format that there is time to reasonable market the items to obtain a secondary market value. This type of appraisal is often requested by trust departments to determine liquidations of assets. For example it would be used to determine reasonable expectations of value during an estate auction.

This is just a brief discussion on jewelry appraisals for additional information on types of appraisals and how I could be of assistance on this topic please contact my office. J. Anthony Jewelers is a member of the Independent Jewelers Organization and I can be reached at 920-729-1642. Also by email at [email protected]

Originally posted 2015-01-09 08:43:43.