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Appraisals For Attorneys 2019-01-25T16:18:53+00:00

Security Details

  • Houston Jewelry Appraiser LLC is located in a high security office building with 24-hour surveillance and an armed HPD officer during business hours.
  • Our office is equipped with a jeweler’s safe with a rating of UL TL-30×6 and high resolution security cameras.
  • Houston Jewelry Appraiser is insured through Jeweler’s Mutual Insurance Group.
  • We may only accept custody of jewelry items in our office, where proper security measures and surveillance is provided.

Estate Planing

In estate planning or distribution, you will want to account for one individual receiving jewelry, while another might receive china, art or real estate, and the appraisal should facilitate a fair division. In such a case the estate will often use the fair market value (cost of purchasing similar items) for distribution. In other cases, some people may be receiving jewelry while others are receiving cash or cash equivalents. In those cases, it might be preferable to distribute property according to its marketable cash value-actual cash in hand after selling costs. When planning your estate, these issues should be addressed with your estate planner before engaging the appraiser.

Asset Distribution in Divorce

Jewelry is very closely tied in to emotions, and both parties are likely to have an inflated idea of the actual current value of marital jewelry. Most appraisals obtained by consumers are insurance appraisals, which represent the maximum retail value of an item. How this translates over to fair market value is not a simple adjustment and can vary greatly depending on the value factors present. It might be beneficial for both parties to hire the appraiser jointly to generate the appraisal report to assure that the same standard of measure is being used for both.

Bankruptcy

When an item of jewelry is part of a bankruptcy estate, an appraisal may be required. The value to be used for reporting is most commonly the fair market value. This is defined as the price that a willing buyer and willing seller would agree upon.

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 or rarely, as high as retail value.

Tax Purposes

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.

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 or rarely, as high as retail value.

Pricing

Jewelry Appraisal Reports – $65/hr with a 3 hour minimum.
Expert testimony – $130/hr with a 3 hour minimum.

MOST INSURANCE COMPANIES REQUIRE YOU TO UPDATE YOUR APPRAISAL EVERY 2-5 YEARS.