So You Say You Need an Appraisal

CALL US AT (214) 369-5361 FOR DETAILS

There are four types of appraisals:
  • Retail replacement or insurance- Used for insurance, value of an item from a store that would sell that type of jewelry.  i.e. Tiffany will be Tiffany price, Copy of Tiffany will not be Tiffany price.
  • Fair Market Value – Orderly sale. This is the value for an estate or division of property.  
  • Market value – Quick sale.  Jewelry is purchased by jewelry dealers at discounted rate (brokered). 
  • Salvage – Scrap (today’s gold price x gram weight x 0.90 = net $ to you)
Retail Replacement or Insurance Value To acquire insurance on individual’s policy. Value at which the item would sell if offered in a retail environment selling that type of jewelry. 

Fair Market Value (Estate) – used for trust, probate, loans, division of property, settlement of any kind. 

*(Depending on the terms of the trust, you may find that a general lump sum value is appropriate.  However, there is always a certain amount of documentation that must be performed to make a record of the pieces.)

Market Value/Broker – not written, verbal only immediate cash value.  No information provided on pieces, just a dollar amount.



Drop off – UP TO 34 pieces of jewelry, you don’t need an appointment.  A job/claim envelope (along with a photograph of the items you are leaving) will be made out for you.  Once notes are taken, you may pick up your jewelry (same day or at a later time). Your appraisal will be worked into Margaret’s schedule. The written report will be mailed to you.

Appointment – If there are MORE than 35 pieces (pair of earrings counts as 1 piece), we will schedule an appointment for your appraisal. During the appointment, you may stay in the store or return later in the day.  A job/claim envelope will be made out for you.

Number of pieces – We need an accurate # of pieces you are bringing…this is the only way we will know how much time to allot for the appraisal.  If you set up the appointment for a certain number and find more will be brought, please notify us of the updated amount.  The appointment time will need to be revised.

For all types of appraisals, we need:
  • Name, address, email, customer stated value*. 
  • If customer stated value over $100K we will have to acquire insurance for that owner.  *This is the purpose for the customer stated value.
For estate or Fair Market Value, we need:
  • Name of decedent
  • Styling of the trust document.  (Ask attorney)
  • Date of Death or date specified by the trust, County of death.
  • Name of executor or trustee
  • To whom are copies of the appraisal sent with addresses.
  • Address of record
  • Address of recipient of appraisal document
  • Number of copies needed. Two are provided with the appraisal.
  • Date the document is needed.
  • Is dollar value needed before written document is available? (Sometimes there is a need to have a dollar value as soon as possible so IRS filings can be made, with the complete document to follow in hard copy).

Miscellaneous information needed for all types of appraisals:
  • Watch appraisals:  Need box and papers. Receipts.
  • USAA requires additional work, takes longer, higher fee.
  • Are there any gem lab reports, and can customer supply copies? A must for certified stones!
  • Are there any previous appraisals or receipts available? They often show exact weights.
  • Are there any insurance schedules available? They often show exact weights?
  • Handwritten notes. If antique, is there any supplemental information or accompanying ephemera, i.e., box, fitted box?
Answer these questions:
  • What is to be done with the jewelry after it is appraised?  Will it be sold, distributed, kept in the trust, etc.?  Will the appraisal be part of a tax filing? The answer to these questions will dictate how much detail we need to provide.  
  • We will need guidance from the attorney for the trust as to date of valuation. This can be date of death, or some other date, but the attorney needs to tell us what it should be.
  • How will the jewelry be transported?  We can provide armored car pick up and delivery.  It must be a business address, not a home.  No rural roads.
  • Who will be my contact for questions?  Preferably someone who has the ability to use email and cell phone.

New Fee Schedule for Appraisals
As of April 1, 2022

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