Since the majority of appraisals done are of the “Insurance Replacement” type, insurance companies expect the completed appraisal to be in a certain form. By doing this, in case of loss, the insurance company can accurately determine the details of the jewelry and a claim can be paid much faster. But there are several other types of jewelry appraisals that can be done. Here are some examples:

INSURANCE APPRAISALS
The most common type of appraisal, this appraisal establishes a value of an item so that it assures a replacement of equal quality and value in case of loss. For important or extremely valuable items, the customer and the insurance company may negotiate this value in order to balance risk and premium.

ESTATE APPRAISALS
An appraisal that is used primarily for probate purposes and is fair to all parties concerned. This type of appraisal is generally based on “fair market value”.

DIVORCE SETTLEMENT APPRAISALS
An appraisal that establishes the value of jewelry in case of liquidation or disposal in a divorce settlement.

EXPERT WITNESS APPRAISALS
An appraisal that is given in court by the appraiser that establishes the details of the item(s) in question and the validity of the valuation and how it was determined.

BARTER APPRAISALS
An appraisal that establishes the value of an item(s) in order for the owner of the item(s) to barter for a product or service of another party.

CASUALTY LOSS APPRAISALS
An appraisal that establishes the value of an item that may be able to be claimed as an income tax deduction in the case of loss or damage.

COLLATERAL APPRAISALS
An appraisal that establishes the value of an item that will be used for obtaining a loan or similar business transaction.

COMPARISON APPRAISALS
An appraisal that is used to verify the identity and quality of an item claimed by a third party or to verify the asking price of an item.

CUSTOMS EVALUATION APPRAISALS
An appraisal that establishes that a piece of jewelry was not purchased in a foreign country that an individual has just returned. This appraisal is unique that a detailed description or value is not needed.

DAMAGE REPORT APPRAISALS
A report that would indicate the approximate weight loss resulting from re-cutting a damaged stone. This report would be used by the owner to recover the costs of re-cutting as well as removal and resetting of the stone, the cost of the report itself, and the cost of a new appraisal from insurance.

DONATION AND GIFT APPRAISALS
An appraisal that establish the value of jewelry to given or donated to a party such as a museum or university. This valuation would be used for tax purposes.

ESTIMATE TO REPLACE (HYPOTHETICAL) APPRAISALS
A report that is used to establish values that were previously undocumented or values for lost or stolen items that were poorly documented. Since the articles are not available for analysis, the estimate solely based on the customer’s description and any photos or other information.

QUALITATIVE REPORT APPRAISALS
This appraisal is not used to establish value, but to establish or confirm the identity and description of gemstones, gem material, precious metals, jewelry, coins, etc.