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So you’ve just inherited your grandmother’s vintage diamond ring, only to find out it’s not covered by your insurancepolicy because its value wasn’t properly appraised. These scenarios reflect the all-too-common struggles encountered in jewelry valuation. What do Jewelry Appraisers Do?
Why Get a Diamond Appraisal for Your Engagement Ring In this blog, we answer five key questions about diamond appraisals: What is a diamond appraisal? How does a diamond appraisal protect your engagement ring? How do diamond appraisersappraise? How much does a diamond appraisal cost?
There are a few reasons why getting your jewelry appraised is important. Aside from proving ownership, the main reason is often for insurance purposes to secure investment. It’s important to inform your insurer whenever you obtain new appraisals. What’s in a Jewelry Appraisal Certificate? Valuation 5.
Value matters and an art appraisal completed by a qualified art appraiser can save you substantial money by not selling too low, insuring too low, or paying too much in estate tax or equitable distribution. In this article, we will explore the key indicators that suggest you may need an art appraisal.
My latest article for Worthwhile Magazine™ tackles a tricky area of appraising: understanding the different levels of value. This is one of the most confusing elements of appraising that I spend a lot of time discussing with clients, so I wanted to cover the subject in an article that could reach and help a much broader audience.
Do you need an appraisal? But there may be several instances in which an appraisal would be very much advised. I guess, to the extent that your situation involves paying state or federal taxes, you might actually be able to go so far as to say that an appraisal is NEEDED, lest you run afoul of the law. Estate tax liability.
Antique appraisals are a crucial step in understanding the true value of the item in the marketplace. A skilled appraiser carefully studies the history, authenticity, and condition of each item to determine their worth. Unfortunately, finding skilled antique appraisers near you can be a challenge. Examination.
By Ray Nugent Fine Art Insurers require more frequent valuation updates for Fine Art items than other less dynamic markets. Insurers are keenly aware of this phenomenon and therefore, require regular valuations updates, typically, every 2-3 years. With Fine Art the event is a secondary market auction hammer price.
Jewelry appraisals protect your valuable pieces in the event of damage, loss, or theft. Without a proper evaluation of your jewelry’s worth, you can’t get insurance coverage for it. Knowing you need estimated values and understanding the appraiser’s report once it’s available are two different things. That’s simply not true.
In this blog post, we explore the crucial role of insuranceappraisals in safeguarding your art collection, providing insights into why this process is indispensable for every art enthusiast and collector. Accurate Valuation for Adequate Coverage: The art market is dynamic, with values fluctuating over time.
You know you need an appraisal, but what kind of appraisal? The quick answer is that the kind of appraisal you need depends on your intention. Do you need to have a collection appraised for insurance? It is the type of appraisal report we most commonly provide for our clients. What are the options?
” Specifically, many people may not realize that traditional homeowners insurancepolicies typically have coverage limits that may not be sufficient to adequately protect high-valued property such as fine art, jewelry, or luxury items. Their expertise ensures that the valuation is accurate.
An expert’s view on why your health insurancepolicy should be appraised by a professional. Editor’s Note: The beginning of a new year is the perfect time to have your health insurancepolicy reviewed by a professional. ASA: What would such an appraisal or review look at and cover?
You’ll need a fair market valuation and a suggested asking price. Do you want to include your item on your homeowner’s insurancepolicy, or do you want to donate it and/or write it off your taxes? Then you’ll need an insurance or replacement valuation. Do you want to sell it?
B: Should updated appraisals be a resolution for collectors? K: Certainly, especially if they haven’t had an updated appraisal in 5 years and/or they are collecting in a genre or an artist in which there has been a lot of market fluctuation, such as women Abstract Expressionists, contemporary Black artists, just to name a few general areas.
This is not only important, but it also brings up the most essential value of obtaining insurance for one’s collection: memorializing value. Do you need something more specialized and an appraisal to support it? A few questions to ask and find out… Does my current policy cover fine art and other valuable items?
The following is a synopsis of my interview with Connie: The most common types of HO policies and how they generally relate to a fine art collector. Types of HO Policies: The two types of insurancepolicies available to a homeowner are “Named Peril” and “All-Risk.” Valuation is current market value.
Location of important papers, including: investment accounts, insurancepolicies, bank accounts, passwords, etc. An appraiser can be consulted to provide valuations for items in the inventory, thus ensuring that the valuations are determined by a neutral party.
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