Insurance

Did you know most insurance does not cover the loss or theft of personal property over $1,000?

Submit an insurance appraisal document to your insurance agent to cover your most valuable and sentimental jewelry items.

Most modern insurance policies include coverage for jewelry, but that coverage is typically not nearly enough to cover the replacement value of the item(s), which is why an insurance appraisal is necessary.

Insurance appraisals are authorized documents intended to cover the replacement value of jewelry and watches. Descriptions on insurance appraisals are typically the most detailed of any appraisal type and include the quality and condition of the item as well as the cut, color, clarity and carat weight of gemstones and diamonds. When applicable, the age or historical provenance may also be considered as value elements. Depending on the specifics of the item being appraised, the replacement value may be based on the analysis of sales for similar new‚ items of like kind and quality or sales of ‘used’ (vintage) items of comparable kind and quality.

Resale Or Selling Jewelry

Looking to sell your jewelry?

Our qualified appraiser can give you a fair market value appraisal report.

If you are looking to liquidate your items, under certain circumstances we do offer to purchase gold, silver, platinum and estate jewelry.

Estate oR Estate Tax

Trying to determine value of your items for distribution amongst heirs or estate tax purposes?

Our qualified appraiser can prepare an estate tax appraisal that meets strict state standards and helps you avoid significant tax penalties and possible IRS sanctions.

There are two common types of estate appraisals: equitable division and estate tax. Estate tax appraisals are prepared to help determine estate tax and must meet specific standards outlined in the Code of Federal Regulations and/or the specific regulations of each specific State. For Federal estate tax purposes, the fair market value, as specifically defined in 26 CFR §20.2031-1(b) of the tax code, is provided based on the methodology and to the level of detail required by the IRS. The requirements for this type of appraisal are extremely rigid and require an appraiser with a high level of education, training and experience in order to help avoid significant tax penalties and possible IRS sanctions. Each state may have its own specific value definition and requirements that must be met when providing estate tax appraisals for their jurisdictions. Treasury regulations require that appraisals for estate tax must meet the standards of a “qualified appraisal” provided by a “qualified appraiser” (as defined in IRS Code, Section 170). Treasury regulations now specify the education and experience a “qualified appraiser” must have and they also delineate the minimum content a “qualified appraisal” must contain. Precision Jewelry Appraisal meets the Treasury regulations for both “qualified appraisal” and “qualified appraiser.”

Resale

Looking to sell a piece?

Include a resale appraisal document in your auction or resale website listing for a profitable sale.

A resale appraisal report can assist you in the sale of jewelry or watches. This appraisal report can provide as much detail as an insurance appraisal document. When it comes to reselling jewelry, consulting with Precision Jewelry Appraisal can help determine the appropriate level of detail and the type of value that fits your needs. Commonly requested types of value include market value, fair market value, liquidation value, replacement value, and marketable cash value.