Professional Jewelry Appraisal Services

At Mayflower Estate Buyers & Consulting, we are dedicated to furnishing timely, comprehensive, and legally compliant appraisal reports, augmenting your business practices, and fostering trust and confidence with your clients.

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Appraisal Types

Appraisal Process

Appraisal Pricing

Types of Appraisal Services Offered

Mayflower Estate Buyers & Consulting stands ready to meet a broad spectrum of appraisal needs with precision and professionalism. Our specialized services include valuations for insurance purposes, estate planning and trust settlements, non-cash charitable contributions, dissolution of marriage proceedings, resale appraisals, and IRS-related assignments. We go the extra mile by offering additional appraisal types upon request. Each appraisal is approached with meticulous attention to detail, ensuring that our clients receive accurate and comprehensive evaluations tailored to their unique requirements.
sample appraisal report

Our Appraisal Process

We offer a meticulous and client-centric appraisal process designed for your comfort and clarity. Typically, our appraiser would meet with you at a firm representative’s office, accompanied by your jewelry. However, if transporting your jewelry poses any discomfort, we are more than happy to discuss meeting at a secure location convenient for you.

Appraisal Conditions Discussion

The process begins with a detailed discussion on the appraisal conditions. We aim to understand the purpose of the report to determine the type of value required. This personalized consultation involves asking key questions, such as whether the report is for IRS purposes or if you intend to sell the jewelry privately or distribute assets among family. This in-person discussion ensures crystal-clear alignment on the type of appraisal that best suits your needs.

Basic Inspection of Jewelry Pieces

Moving forward, the appraisal process involves a basic inspection of your jewelry pieces. This includes assessing the nature and condition of each item. Notably, costume jewelry is excluded from the appraisal, as we focus on fine jewelry. Pieces that are unfit for wear due to damage may also be excluded, depending on the severity and the intended use of the appraisal report. For instance, in the case of a client intending to sell their jewelry privately, a damaged piece may have a lower value compared to a piece in good condition.

Receipt and Detailed Inspection

Following the initial evaluation, we provide a receipt for the pieces. Subsequently, we take possession of the items to conduct a detailed inspection at our gemologically equipped office. This thorough examination ensures accuracy and completeness in the final appraisal report. Mayflower’s commitment to delivering timely, comprehensive, and legally compliant appraisal reports sets us apart, providing you with a trustworthy foundation for your appraisal needs.

Jewelry Appraisal Pricing

Mayflower’s commitment to transparency is reflected in our Schedule of Fees

Initial Consultation

Free
  • Conducted over the phone or in person.

Fixed Rate

$ 125
Per Hour
  • Covering document review, research, and report writing.
  • This rate remains unchanged for the duration of the working contract.
  • Includes a discussion of the assignment before the appraiser accepts it.

Retainer

  • Required for appraiser's involvement in depositions and court appearances, including travel.
  • The project retainer is based on the expected time commitment at the current hourly rate and is to be paid upfront.
  • Mayflower Estate Buyers & Consulting ensures a thorough, transparent, and client-focused appraisal process, providing you with confidence in the valuation of your jewelry.

Frequently Asked Questions

It is important that a jewelry appraiser is qualified per IRS 26 CFR § 1.170A-17 – Qualified Appraiser & Qualified Appraisals – because this confirms that the appraiser has dedicated their time to the proper education and appraisal training. Anyone can represent themselves as a jewelry appraiser to the public since there are no laws requiring certification or credentialling. This is why it is important to vet the jewelry appraiser you contract to ensure you contract a qualified appraiser.
While it is no small feat to achieve a Graduate Gemologist diploma from the GIA, the GG curriculum does not prepare a gemologist to engage in appraisal methodology, valuation science, report writing, legal research and more that is involved in generating a qualified appraisal report. This is important as well for profiling the various credentials that a jewelry appraiser may publicize.
The National Association of Jewelry Appraisers, for example, requires a certain minimum number of education hours per year in addition to resubmitting two qualified appraisal reports to ensure that the jewelry appraiser remains up to date and compliant. Completing an online appraisal course and paying membership dues may not be sufficient for qualified credentialing.
It goes without saying that the more education one receives, the better. Such is the case with becoming a member with one or more appraisal associations. Doing this helps to ensure that the jewelry appraiser maintains their credentialing as a qualified appraiser, is held to industry ethical standards, and keeps abreast of market changes.
While USPAP standards were developed primarily for real estate appraisers in the late 1980’s, Standards 7 & 8 specifically regard personal property appraising development and reporting. These standards afford a minimum baseline for personal property appraisers in the jewelry industry to adhere to, to ensure their reports are comprehensive, compliant, and legally sound.
The jewelry appraiser is the sole party responsible for discovering and using the proper effective date(s) and including the correct value definition(s) per the jurisdiction of the appraisal assignment. Not adhering to jurisdictional codes/statutes and not including the correct effective date(s) and value definition(s) will likely result in legal action against the appraiser.
It can be tempting to use fair market value for most appraisal report types. But how is fair market value defined? The IRS has one definition for FMV with some slight variations depending on the type of appraisal. Even on a state level, and sometimes county level, there are varied definitions for fair market value depending on the type of appraisal being rendered. It is important that your qualified jewelry appraiser knows and understands which definition applies to the appraisal assignment because using the wrong one could result in legal consequences.

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