Jewelry, art, and antique appraisals are obtained to determine the proper amount of insurance needed to cover a purchase or loss, to determine the reasonable fair market value of an item donated to charity, and to compute appreciation of antiques and family heirlooms when distributing assets or figuring estate taxes. Appraisals are also commonly obtained for private sales.
Transworld International will assist you in selecting an appropriate appraiser with a degree in the specialty that most closely relates to the object to be appraised. For example, personal property appraisals are divided into such specialties as antiques, fine arts, jewelry, collectibles, guns, furniture and household goods. Other specialties include technical valuations for boats, airplanes and autos, estate appraisals (divided into commercial, residential and income properties, which are further divided into urban and rural properties) and machinery and equipment appraisals.
The purpose of an appraisal is to establish rightful ownership of property, to identify the objects by describing their inherent characteristics, and to value the items based on the known comparable objects in the marketplace. A full description of each piece will tell you, to the best of the appraiser's ability, the age, characteristics, physical condition, and, if significant, national origin. When the maker-company, craftsman, or artist is known, this will be included. Where pertinent, dimensions and silver weight will be stated.