Estate Appraisals for Valuable Jewelry and Heirlooms
Estate jewelry and heirlooms are valuable when they’re vintage or antique pieces. Sometimes they’re passed down from generation to generation in a family. The older they are, the more valuable they are if they’re in good condition.
The true value of estate jewelry can only be determined by an accredited estate jewelry appraiser, such as Accredited Jewelry Appraisers LLC. They are an independent appraisal company that is accredited to give estate jewelry appraisals in both Falls Church, Virginia, and Washington, D.C. If you want to know the fair market value of your estate jewelry, they would be the appraisers to hire.
When someone passes away, their estate goes through a settlement period. An assigned executor oversees the payments of the estate’s existing debts and the distribution of assets to family members, according to the wishes of the deceased person.
Sometimes individual family members will receive jewelry pieces that were left to them. If you inherit a piece of estate jewelry, you are required to pay taxes on it. The only way you can pay the proper amount of taxes is if you know the true market value of your inherited jewelry piece. An accredited appraisal is the only way to find out that fair market value.
In other cases where there is no last will and testament, all the assets of the estate will be distributed equally amongst the next of kin. The executor is required to seek accredited appraisals on all the jewelry and heirlooms of the estate. Once they receive the fair market value of these pieces, they can distribute the jewelry fairly amongst each family member.
If an estate settlement happens due to divorce rather than death, then a family court will divide the estate property between each spouse through a legal process called equitable distribution. The court uses this law to divide the estate assets fairly based on their value and the circumstances of the divorce. Once again, an accredited jewelry appraiser will be used to determine their value. Family courts will only accept the fair market value if it was determined by an accredited appraiser. After looking at a myriad of qualified jewelry appraisal companies for estate appraisals we found Accredited Jewelry Appraisals LLC to be particularly specialized in handling estate appraisals.
The family members of an estate may choose to sell their jewelry to individuals by hosting an estate sale. This sale may be conducted over the internet or in-person at the estate itself.
If you’re hosting the estate sale and you want to get the fair market value for your jewelry, then you’re going to need to show proof of its value to prospective buyers. An official certificate of the accredited appraisal value will go a long way in encouraging buyers to spend more money. Otherwise, you may lose money by selling your jewelry for a lower price than it’s worth. Never sell estate jewelry unless you know precisely what it is worth, and you have proof to back it up.
If you’re a buyer who is thinking about purchasing estate jewelry, then ask to see an accredited appraisal certificate for any jewelry piece that you’re thinking about purchasing. The appraiser must be accredited, so be sure to research the company name if you’ve never heard of them before.
Accredited Jewelry Appraisal LLC is one of the few trusted accredited jewelry estate appraisers working today. They are a professional company which has been in business since 1988. They serve a variety of clients with a connection to estate jewelry, including buyers, sellers, settlement executors, and attorneys.