Guide to Jewelry Appraisals

for insurance, estate, probate and fair market value

Appraisals can be valuable to have, especially when it comes to

purchasing insurance and inheriting heirlooms.

An appraisal description usually covers the visible, measurable and analyzable facts about the jewellery item (weight, materials, markings, subjective features such as diamond and gemstone quality, relative rarity and overall quality of manufacture). 

Types of Appraisals 

Fair Market Value Appraisals 

Fair market value appraisals reflect an actual selling price in today’s market. Fair market value must represent the item’s value in its current (used) condition. Fair market value is generally required for charitable donations and estate appraisals.

Immediate Liquidation Value Appraisals 

This type of appraisal usually reflects low values because of the situations that create their need. Divorce settlements and some types of estate liquidations may require this type of appraisal.

Estimated Cost to Replace Appraisals 

This type of appraisal is used to appraise the lost jewellery item or lost diamond or gemstone. That appraisal is for the Insurance companies to pay to the clients for replacements.

Customers’ appraisals should be updated periodically to make sure they have adequate insurance coverage.

In addition to the cost to replace or repair an item, the value stated in an insurance appraisal should include enough to pay the appraiser for their services.