Beware of paying high prices to have your appraisal written by someone who is not a gemologist. Most insurance companies, attorneys and banks require that appraisals be written by a Graduate Gemologist.
Replacement Value: most common are retail evaluations written for insurance needs. This would be the cost to replace the jewelry with an item of like kind and quality. This would be considered the current market price or replacement value.
Comparable Replacement Value: This value would be used when items are no longer in production or available. The secondary market is often used on estate pieces such as antiques.
Fair Market Value: This evaluation is often done on estate pieces and is based on what price the piece will change hands between a willing buyer and a willing seller, neither being under compulsion to buy or sell and both having relevant knowledge of the facts. These prices are usually researched from documented prices from estate sales, second hand stores, antique stores and auction houses.
Damage Appraisals: Documentation of the current value for damaged personal property including the loss in value or diminution following repair
Liquidation Appraisals: Bankruptcy and the liquidation of business assets in dissolution are two reasons for a liquidation report. Once consideration is the length of time required to dispose of the property
Donation Reports: These are currently required by the IRS only if the value of the donation(s) exceed $5,000. These reports will allow your client to claim the qualifying tax deduction with the IRS.
Gem Identification: Verify stone is what you believe it is.
Prenuptial/Divorce Appraisals: These can be used to document the value and identification of jewelry items owned by either or both parties in a prenuptial agreement, or to document current value of all jewelry held by one or both parties in dissolution. Having an independent third party provide this evaluation and valuation tends to take a lot of emotion out of the situation.