There are three main types of appraisal offerings here at J. Morgan Ltd: Insurance, Estate, and Purchase. Each are appropriate for different situations and our specialists are happy to guide you in determining which best suits your needs.
Insurance appraisals are the most common type. Usually they are formal, written descriptions by jewelry professionals for insurance companies to cover the insured against loss, damange, or theft, depending on the language of the policy, but many carriers will also accept detailed purchase receipts. Some appraisals might include photos, diagrams, certificates, and lab reports. Typically coverage is purchased under someone's homeowner's or renter's insurance or under a separate personal property policy, such as is offered by Jeweler's Mutual which specializes in jewelry insurance. Most insurers recommend appraisals be updated every three to five years to ensure proper coverage. There are set fees for insurance appraisals, depending on the number and complexity of the reports and documentation required. Insurance appraisal items are generally priced at full retail replacement value.
Estate appraisals are another form of written appraisals. They are typically used for identifying and then dividing up assets in an estate where formal documentation might be required by inheritors, executors, and/or the courts. These appraisalsare often not as detailed as insurance appraisals, but do convert assests into easily attainable dollar amounts to help families with realistic division and allocation of estate resources. There may be some minimal fees, but these are usually refundable if items end up being sold to us as part of a liquidation. Estate appraisal items are usually priced at immediate liquidation value.
Purchase appraisals are not formal appraisals, but rather verbal or simple written offers to buy. Given the materials, condition, styling, inventory needs, market conditions, and other factors effecting the value of the items, we are happy to consider bidding on any items of jewelry, coins, or other valuables for immediate purchase. All transactions are confidential. There is normally no fee for a purchase appraisal. Purchase appraisal items are also usually priced at immediate liquidation value.