Working within the jewelry industry by buying and selling jewelry does not make one an appraiser, nor should appraising be treated as an inalienable right that comes with the job. Appraising is a profession, just as a doctor, lawyer, or CPA, where one must be educated and tested. At Bailey’s, experience is what is important. We are an American Gem Society (AGS) Accredited Gem Lab. Accredited Gem Labs are rare because of the extremely stringent staffing requirements to qualify. A Certified Gemologist must be on staff at all times, and state of the art gemological testing equipment is required for the lab to be accredited. Even today, there are fewer than 500 Accredited Gem Labs in all of North America. Bailey’s Accredited Gem Lab guarantees real protection for our customers against gemstones that might be artificially treated, dyed or otherwise adulterated, an increasingly common occurrence.
Types of Appraisals
- Estate: IRS compliant to assist in filing of the estate taxes
- Liquidation: Current fair market value to assist in selling
- Divorce: To assist in the division of shared assets
- Conservatorship: Inventory of assets belonging to the conservatoire
- Insurance: To obtain insurance coverage in which many insurance agency’s require
- Charitable Contribution: IRS compliant appraisal required for tax deduction purposes
When should appraisals be updated?
Most insurers suggest updating appraisal values every three to five years. Many policyholders learn this too late – loss often occurs before appraisals are updated. This can make it difficult to receive the current value on the lost item.
To inquire about our appraisal services please contact us.