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APPRAISALS

Tara Fine Jewelry Company has the necessary skill and know-how to professionally appraise your jewelry. We understand that your jewelry is valuable to you. Accuracy, strict discretion and your trust are most important to us. Your appraisal will be completed in a secure environment with the honesty, integrity and understanding that you need in a jewelry appraiser. We strive for our services to exceed the highest standards in the industry.

Appraisal documents

An appraisal document determines the value of your fine jewelry or timepiece. This document may serve numerous purposes ranging from obtaining insurance, distributing property among heirs or to be used to collateralize a loan.

You will be best served to discuss the purpose of the specific appraisal requested in advance of the service being provided. Depending on your need we can provide appraisals for:

  • Replacement Insurance
  • Agreed Value Insurance
  • IRS Documentation
  • Damage Appraisals
  • Liquidation Appraisals
  • Pre-Nuptial Appraisals
  • Donation Appraisals
  • Litigation Support
  • Collateral Appraisals
To prepare for your appraisal, please bring the specific piece and any supporting documents with you including sales: receipts, gemological laboratory reports, photos, warranties and any other documentation you may have available. You will also want to include any watch or jewelry brand boxes/packaging that was original to the piece when purchased.
The most common type of appraisal requested is an Replacement Insurance Appraisal Report. This document accurately describes your jewelry, along with the current value of like kind and quality items. If the item is lost or stolen, the information contained in this report, written in great detail, is used to re-create or make like-kind purchase in the event of loss, theft or damage. All our appraisals contain photographs of the designated item.

Your Homeowner’s Insurance Carrier or an Independent Carrier can advise you on what kind of Insurance you will need to purchase from them. Insurance companies vary on their replacement policies, so be sure to ask what exact appraisal documentation is needed and how they handle losses.

A Replacement Insurance Policy is a policy where your insurance company will replace an item, or pay you no more than their actual cost to obtain it, regardless of the value stated on the appraisal document. You want to have current, realistic values, reflecting what is currently happening in the market. If the value is unrealistically inflated, you will be paying higher premiums for coverage that you will never recoup.
An Agreed Value Insurance Policy is the alternative to a Replacement Insurance Policy. It is important to note that not all companies offer, and not all customers qualify, for this type of coverage. With an Agreed Value Insurance, the insurance company does not find a replacement, but rather pays you the face amount on the policy. This type of policy often is inflated annually by the insurance company automatically based on the CPI (Consumer Price Index), which will inflate the premium you pay as well. Keeping tabs on your item’s current value is important with this type of coverage.

Knowing exactly what your insurance policy covers, before you experience a loss will prevent a great deal of heartache and headache.

IRS Documentation, or what is commonly called a Fair Market Value Appraisal, is less straight forward than a Replacement Insurance Appraisal. This type of value is often less than an Replacement Insurance Appraisal. These appraisals are structured to be in compliance with the legal definition of Fair Market Value and is a requirement by courts and the Internal Revenue Service for valuation issues. This value is often appropriate for other legal or tax purposes such as dissolution settlement, divorces, charitable contributions, and even for some criminal proceedings.
For more information on Tara Fine Jewelry Company’s appraisal pricing or to schedule a consultation, please contact our store at 770-932-0119.