Quality, Integrity, and Service

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What is an Appraisal ?

An appraisal is a written statement, independently, impartially, and objectively prepared by a qualified appraiser, setting forth an opinion of the defined value of an adequately described property as of a specific date; supported by the presentation and analysis of relative market information.

With a Graduate Gemologist Diploma (G.G.), Fellow of The Gemmological Association of Great Britain (F.G.A.), Formal Appraisal Education, and an up-to-date Gemological Laboratory, Mr. Tenhagen has the education and technical tools necessary for a professional appraisal. As an independent appraiser who does not buy or sell merchandise being appraised and whose business is focused exclusively on appraisals, Mr. Tenhagen attests that his appraisals are unbiased.
The examination of the gemstone(s) usually does not require removal from their mountings. Most gemstones can be measured and graded, within acceptable industry tolerances, in their mountings as long as the setting allows access to the lab equipment. If there is a need to remove a gemstone for a specific concern, we will receive permission before proceeding.


           Click image to view a sample appraisal.

What are the “Types of Appraisals” one might need?

• Insurance
• Divorce
• Collateral
• Antique or Period
• Estate (Inheritance Tax)
• Liquidation
• Donation
• Hypothetical

INSURANCE APPRAISAL

For Insurance Purposes a retail replacement value is needed. Since retail values vary from source, you may see differences between appraisers depending upon their understanding of the various market levels available for jewelry sales.

Your insurance policy (or agent) will explain your coverage limits and conditions pertaining to jewelry. To your homeowners or renters policy you need to add scheduled property insurance for individually listed items outside of the generic coverage. Art, antiques, furs, and jewelry are typical items so listed because they are of significant individual value and/or need detailed descriptions. The premium you pay is based upon the dollar amount listed, usually from an appraisal.

The insurance company's obligation is to replace a lost item with one of like, kind, and quality. The insurance companies buy at wholesale for their replacement needs. If you opt for a cash settlement, it will be what the insurance company replacement cost.

ESTATE APPRAISAL

If the appraisal is for estate tax use, a fair market value is required by the Internal Revenue Service. Fair market value is also required for charitable contributions. This value is not retail and may also be appropiate for other legal purposes such as dissolution of marriage, pending litigation, and for some criminal proceedings.

 

 

Tenhagen Gemological Labratory, Inc.

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