Estate Jewelry Appraiser

for Estates, Trusts & Equitable Distribution

Typically, an estate jewelry appraisal takes place when a family member passes away (inherited estates or trusts) and/or when assets are being divided between heirs or divorcing spouses (equitable distribution).   In these cases, the appraisal assignment must adjust to meet the often-unique need of the executor or bank trust department.

How to Determine Value of Estate Jewelry

This type of appraisal differs from a typical retail jewelry appraisal for insurance purposes, which gives values based on the brand-new replacement cost. 

An estate jewelry appraisal values the items in their current condition and selling price in markets that typically would buy or sell that type of jewelry; for example, an estate market, a liquidation market, a pawnshop market and others depending on the condition and quality of the gems and jewelry.

A probate court may require an estate appraisal for non-cash assets like fine jewelry, diamonds and gemstones in order to determine fair market value prior to distribution of the assets.

Do you need an estate jewelry appraisal report for IRS filing or court?

Estates subject to federal estate tax require a detailed report to establish fair market value for each item.  Estate appraisals subject to IRS scrutiny necessitate additional market research for significant jewelry pieces.

These appraisals will list the documented sales prices of comparable items researched from data such as recent auction sales.  When applicable, these prices are followed by an analysis of similarities and differences between the item in question and the comparable item(s) in order to assist the IRS agent in understanding the fair market value conclusion in the report.

Subsequently, these appraisals require more time and research.  Time is billed by the hour, or we can quote a fixed upfront price for the entire assignment.

Do I still need a written appraisal if the collection is not subject to federal estate tax?

Often times, estates and trusts are not subject to federal estate tax.  However, it might still be desirable to have a professional written appraisal report documenting every item.  Such a report, although less formal, can be helpful with the equitable distribution of assets in the estate or trust.

These less rigorous appraisals can require less detailed research and therefore consume less time.  So, although the same hourly rate applies, the total cost is reduced.

What if I don’t need a formal, written report of the appraisal?

In situations where you simply need to establish the fair market value of the items but need no formal, written report, we can provide a consultation option.  We will assist verbally with assigning values for equitable distribution of the assets.  Again, the same hourly rate applies (with a one-hour minimum), but because no written report is made and no photos are taken, the amount of time billed is reduced considerably.

Estate Jewelry Appraisal Cost & Billing

HGL Certified Jewelry Appraisers bill at an hourly rate for all Estate, Expert Witness and Consultation assignments (please visit our pricing page for details).  If you’d like, we can provide a fixed cost quotation at the beginning of the assignment.  We may require a contract and retainer, and the bill is payable in full at project completion and when the report is delivered (if applicable).

For very large collections, we do contract assignments outside our office.  Please contact us for more details.