What gets examined during a jewelry appraisal?
Calibrated weights of metals and stones, dimensional measurements, metal purity testing, gemstone identification and grading with gemological instruments, and condition and craftsmanship assessment. We also record hallmarks, maker's marks, signatures, and serial numbers, tied to multi-angle photographs of the specific piece.
Where do jewelry values actually come from?
From a range of market sources used together: wholesale diamond and colored stone dealer quotes, auction market records, supplier price lists, and direct observation of current retail offerings. Professional guidance specifically cautions against relying on a single retail price list.
Is an old jewelry appraisal still valid for insurance?
Often not. Gold and platinum spot prices, gemstone markets, and retail markups all move significantly over multi-year periods, so values must incorporate current metal rates and recent comparables. Relying on a decade-old appraisal or the original receipt commonly leaves pieces seriously over- or under-insured.
Does jewelry always hold or gain value?
No. Many contemporary mass-produced pieces resell far below original retail because retail prices include heavy markups, while liquidation and scrap values, based on time pressure or material content alone, sit lower still. The value type stated in the report determines which number applies to your situation.
When do tax filings require a jewelry appraisal?
Charitable donations of jewelry above the IRS thresholds require a qualified appraisal reported on Form 8283, and estates report jewelry at fair market value on Form 706 under IRC Section 2031. In both cases the standard is the willing-buyer, willing-seller price, supported by competent documentation of each piece.