Middletown

Types of Jewelry Appraisals

Only those specifically referred to on this page are described here

Further types will be mentioned on the Appraisers' profile pages as there are several other types of appraisal reports, each with its own particular wording, purpose, objectives and resulting values. For an expanded list of valuation types, go to the Appraisal Definitions page.

Estate Tax (commonly requested) - Estate appraisals prepared to help determine estate tax 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 by the tax code, is provided based on the methodology and to the level of detail required by the IRS. Recent Tax Court rulings require that these appraisals must meet very specific criteria. This type of jewelry appraisal is very demanding and requires an Appraiser with a high level of education, training and experience in order to help avoid significant tax penalties and possible sanctions by the IRS. Specific value definition and requirements vary between States.

Insurance Replacement (routinely requested) - Replacement value appraisals are intended to be used for scheduled insurance coverage of jewelry and watches. The descriptions are usually 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 (calculated or estimated) of gemstones and diamonds. When appropriate, 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, quality and utility.