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Professional Appraisal Services
At Highlands Jewelers, all of our appraisals are completed by appraisers who are trained by professional organizations to insure you that you will get an accurate value for you jewelry. The owner, Charles Stuart, is a Certified Gemologist Appraiser of the American Gem Society and also a Graduate Gemologist from the “Gemological Institute of America” (GIA). Barry Silcock is our independent appraiser, a gemologist from the “Gemological Association of Great Britain.” Both, Charles and Barry have each been appraising jewelry for over 30 years.
When you should contact Highlands Jewelers
• To determine the value of your jewelry for insurance purposes
• For evaluating estate items
• For evaluating items in a divorce proceeding
• To document and report the value of damaged items
• To report casualty loss for previously undocumented pieces
• To establish a reasonable re-sale price
TYPES OF APPRAISALS
A professional estate appraisal plays an important role in protecting the value of your assets. An accurate assessment of value is essential for estate planning or settlement, dividing assets in a divorce, buying insurance or property disposition. An estate appraisal ensures that your property will be evaluated with complete confidentiality, care and accuracy. Every estate appraisal report is well-researched and documented.
INSURANCE REPLACEMENT APPRAISAL
An insurance replacement appraisal provides an estimate to replace a piece of jewelry with a new one of comparable look and quality, or on items from a previous era, one of similar quality, design, and condition. Replacement appraisals are most often used to determine an appropriate amount of insurance coverage. It is important that the insurance replacement appraisal provide an accurate estimate of the replacement value. If the replacement value is over-stated, your jewelry will be over insured and you will pay higher premiums than necessary.
FAIR MARKET VALUE APPRAISAL
A fair market value appraisal is most often used for one wanting to dispose of their jewelry and for tax and estate purposes. The fair market value provides an estimate of the likely selling price of a piece of jewelry if it is sold in its current, as-is condition in its most common market. An example of fair market value might be the price that an item sells for at a local auction. Rarely is this price a full retail price. Depending on the condition of the item and the desirability of the item, the fair market value might be as low as “scrap” value.
When an item of jewelry is being donated to any charitable organization, an appraisal may be required. The value to be used for tax reporting is most commonly the fair market value. This is defined as the price that a willing buyer and willing seller would agree upon.
THE APPRAISAL PROCESS
During the course of a jewelry appraisal, your items will be carefully evaluated to accurately identify all component parts – gemstones and metals. Gems are measured or weighed (when appropriate), evaluated for condition and graded for color, clarity and cut quality. Metals are examined for purity.
Value is determined by taking into consideration the component parts and the overall nature and condition of the finished piece as well as prevailing market conditions and the actual purpose of the appraisal (insurance replacement cost or fair market value).
During the initial examination, we will:
• Conduct a thorough examination of your property
• Review the condition of your property
• Take detailed measurements and notes
• Take photographs of your property
After the initial examination, we will:
• Research your property
• Study available information regarding your property
• Assign a value to your property
• Enter all information into a formal report
What can you expect from us?
• Professional and courteous answers to your questions
• Complete descriptions of your property
• Duplicate reports (one for you and one for your insurance company)
• Photographs of your property
• Complete confidentiality
Information we need for your appraisal:
IN ORDER FOR US TO COMPLETE A THOROUGH DOCUMENT, IT IS IMPORTANT FOR US TO HAVE ACCESS TO THE FOLLOWING INFORMATION
• Grading or Laboratory reports
• Previous appraisal reports
• Sales receipts
• Repair receipts
• Adequate time to do the best job possible
• Invoice to be paid at time of service. We will gladly accept your personal check, cash, Visa, MasterCard, Discover, or American Express
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