Purpose: To establish the retail replacement value in the most common and appropriate markets.
Function: To provide a basis for obtaining insurance coverage
An insurance appraisal by an owner who wishes to obtain insurance on a given item. The retail replacement value represents the cost to replace the described item with a comparable item, as near as possible to the original, in the retail jewelry market or other markets appropriate to the item described.
Purpose: To estimate an approximate selling price for the described item(s) in a secondary market which is specifically identified in the appraisal document.
Function: To provide a cash value that might be realized by a seller in a specific market.
A liquidation appraisal is requested by an owner who wishes to convert items(s) into cash. Because markets vary widely, this appraisal is an estimate of the possible cash value that an item, in its current condition, might have in the market indicated in the appraisal document . Because this estimate is specific for a given market, the actual market in which an item is sold will determine the actual selling price.
Purpose: To establish the Fair Market Value in the most common and appropriate jewelry markets.
Function: To provide a basis for paying estate taxes.
An estate appraisal is requested by th executor of an estate who wishes to establish the Fair Market Value of a given item in order to pay State and/or Federal estate taxes. Fair Market Value is defined as the price at which property would changed hands between a willing buyer and willing seller, neither being under and compulsion to buy or sell both having reasonable knowledge of all relevant facts in the most common market in which such goods are sold.