Why Get an Appraisal?
Why get an appraisal?
So you know how much your jewelry is really worth?
Have you ever lost an uninsured item, damaged or stolen and had to pay out of pocket to replace it? This is the most common reason for getting an appraisal. There are however, several other reasons why it makes sense to have you jewelry and sterling silver flatware appraised.
Internet purchases are becoming more common and an appraisal can verify that diamonds (or other jewelry) purchased off the Internet, match the certification or appraisal that accompany the item.
Settling an Estate/Equitable Distribution
Any taxable estate must have the valuables documented for the IRS. Even if the estate is not taxable it is worthwhile to know what you have to distribute to the heirs of the estate.
Fluctuations in Market Value
Platinum, Gold and Silver, Diamond and Gemstone values fluctuate. These fluctuations are due to such things as supply and demand, the economy, new mining finds and mines that have been exhausted.
Dissolution of Marriage
An attorney may request an appraisal when working with a client going through dissolution of marriage to obtain the fair market value of the assets.
Tax Deductible Charitable Contributions
If you make a tax deductible contribution of gems or jewelry in excess of $500.00, the IRS requires verification of value in the form of an appraisal.
Maybe you just want to find out if grandma's old "ruby" ring is really a natural ruby.
Upon take in of the item(s), we check for any loose, chipped or broken stones, inspect the mounting condition and clean the item, (when applicable).
After the cleaning, a complete process of the appraisal begins, each stone is identified, measured, checked for color, clarity and proportions. The metal content of the piece is tested, the measurements of the item as well as a complete detailed description are given, and photographs are taken of the piece(s). Once all the information is compiled, we then process the typed document with digital photograph(s). You also receive an extra copy of the report.
Types of Values
Retail Replacement Value (New/Comparable)-Full retail value, not a sale or discounted value, that you may replace the item with a new equivalent or substitute.
Replacement Value Comparable-Value placed on the item at a sale or discount replacement value in the local market that you may replace the item with another with a similar age, quality origin appearance and condition.
Fair Market Value-The value that is at which the property would change hands between a willing buyer and seller, neither being under and compulsion to by or sell and both having reasonable knowledge of relevant facts.
Estate/Orderly Liquidation Value-Most probable value in terms of cash for which the items would change hands within a short amount of time usually within a 3 to 6 month resale.
Estate/Forced Liquidation Value-Most probably value in terms of cash for which the items would change hands for immediate sale of items without regard to relevant market place.
List of Credentials for Mona Miller
Ms. Miller GG/FASA/CGA, the owner of Pacific Gemological Laboratories, has been actively involved in the jewelry trade since 1980. She is completely certified and is qualified by successfully completing all yearly examinations given by her profession to test her knowledge and by a number of years of upstanding service in the industry.
Graduate Gemologist -In Residence Degree Gemological Institute of America (G.I.A.)
G.I.A. - Charter Member of Alumni
Graduate Retail Management -In Residence Degree Gemological Institute of America
Master Gemologist Appraiser - American Society of Appraisers (ASA)
Fellow - Gemmological Association of Great Britain (FGA)
Certified Gemologist Appraiser - American Gem Society (CGA)
1985-Present: Accredited Gemologist Association (AGA) - Accredited Senior Gemologist; Regional Governor 1991-1993
1985-Present: National Association of Jewelry Appraisers (NAJA) Senior Member
1989-Present: American Society of Appraisers (ASA) Fellow/Senior Member
1994, 2001 & 2008: Who's Who for Executives and Professionals
Jewelers Vigilance Committee (JVC) - Member in good standing
American Gem Trade Association (AGTA) - Member in good standing
American Gem Society (AGS - ICGA) - Independent Certified Gemologist Appraiser and Laboratory.
Current Positions held: ASA Education Foundation Director.
Served as an Expert Witness in Court Appearances for Dissolution, Theft, Fraud, Estate distribution and Bankruptcy cases. Civil to Supreme court qualified.