Insurance Appraisal: An appraisal report when completed is used to obtain insurance coverage on a piece of jewelry that you wish to insure. The purpose of this appraisal is to let the insurance company know the approximate retail replacement value of the item, in case of loss, theft and or damage, depending on your policy. Check with your insurance agent to confirm the documentation needed for the type of insurance coverage you are seeking.
Jewelry Replacement and Restoration: When properly appraised, our skilled jewelry designers can duplicate most lost or stolen items or recreate a piece to your specifications. Jordans also offers a full range of jewelry repair and restoration services including sizing, soldering and the replacement of damaged or missing stones. Skilled craftsmen can restore your jewelry to original condition. We also repair watches and only use original factory parts.
Estate Appraisal and Planning: An appraisal report is used for estate evaluation purposes. This requires a specific type of appraisal report to determine inheritance taxes or for estate planning purposes. Jewelry values for estates are legislated to include specific information and data. Fair market value is used for this type of valuation.
Damage Reporting: This report documents damage to a gemstone(s) or the mounting and estimates the cost of removal, re-cutting and resetting of the gemstone(s), as well as the value of the re-cut gemstone (loss of weight). Insurance companies in response to a damage claim sometimes request this information.
Gemstone Identification: The purpose of this evaluation is to determine whether a gemstone is natural, synthetic, or a simulate. This is an oral assessment of a jewelry item or gemstone to estimate its value in the marketplace and reflects retail replacement value. No paperwork accompanies this report.
Third Party Escrow: If you require a second opinion about a jewelry item, loose diamond, or gemstone that you are buying on the Internet or from another retailer, and have arranged for a third party escrow before paying for it, this service is provided for you and the seller. A complete quality analysis is done and findings are compared to the major laboratory certificate if accompanied with one. The retail replacement value is determined based on the gemological evaluation and is stated in the final report. This report can also be used for insurance scheduling.
IRS Documentation: For charitable donations of jewelry in excess of $5,000, the IRS requires that form 8283 reporting information about noncash charitable contributions be included with your tax return. Jordans’ team can provide a “qualified appraisal” as required by the IRS.
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