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GAA's Private Individual Appraisals
Insurance Replacement:
This type of appraisal is used to obtain insurance coverage on a piece of jewelry, whether a new purchase or an item received as a gift or from an estate, that you wish to insure. The purpose of this appraisal is to let the insurance company know the approximate retail replacement value of the item, in case of loss, theft or sometimes irreparable damage, depending on your policy.
Estate Appraisals:
This type of appraisal is used to establish the IRS tax liability of jewelry in the estate of a deceased person for which you are the personal representative. The attorney handling probate will advise you if this is necessary. This same type of appraisal is used for equitable distribution of property.
Customs Reports:
These are not true appraisals, but they do document your jewelry. The purpose of these reports is to eliminate any questions from US Customs as to whether or not you owned the items before you left the country. These can be very helpful when travelling abroad to eliminate paying import duty on your own jewelry, when you return home.
Donation Reports:
For non cash charitable donations in excess of $5,000, the IRS requires that the correct forms be filled out and attached to your federal income tax return along with a donation appraisal report. GAA can help you fill out the form as well as prepare an accurate appraisal of your jewelry.
Damage Reports:
Damage reports are used to document damage to a gemstone or the mounting. They are occasionally requested by some insurance companies in response to a damage claim. We are able to use microphotography to document the damage. If requested, GAA can provide an estimate of the change in value due to the damage through re-cutting the stone.
Purchase Verification:
When you purchase jewelry, we can confirm that you received what you paid for.
Third Party Escrow:
If you are buying something on the internet and want the ability to view it before paying for it, GAA can provide an independent third party escrow service for you and the seller. If you desire an appraisal or gem identification we can provide this at the same time.
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