Functions of a Personal Property Appraisal
Your appraisal document is written for a specific intended use, it serves as a permanent record of your property.
A personal property appraisal has three functions, and all of them are important to you.
- 1. Your jewelry must be identified as to the materials, workmanship, condition and any other elements affecting its value, then evaluated - ranked in quality in relation to all other similar property.
- 2. A value must be assigned to the jewelry that is appropriate to the intended use of the appraisal.
- 3. The appraiser is a witness to the property. The appraiser can attest in a court of law that the jewelry existed at a certain point in time, that it was in a certain condition, and that it was valued according to accepted valuation practice. (That is why it is necessary for your appraiser to examine your jewelry when you have the appraisal updated.)
Some common reasons for having your jewelry appraised
- Insurance
Scheduling Insurance CoverageInsurance Claims Damage Report- Trust Formation
- Non-Cash Charitable Donation (IRS Deduction)
- Estate Settlements
Estate Planning Federal estate tax (for estates in excess of the applicable exclusion allowed by law)State probate for estates with a will Distribution of Property - Liquidation
- Divorce
- Litigation
- Purchasing
Quality Confirmation Confirmation of certification and valuation of internet and cruise ship purchases.
Appraisal Services
Click here to add text.
Jim Murphy Designs
Custom Jewelry Made Just For You
861 6th Avenue, Suite 616
San Diego, CA 92101
Open Monday - Friday 10 am to 5 pm
Call (619) 223-1266
