Appraisal Services

Appraisal services are offered on an appointment basis, either in Van McMinn's office in South Nashville or for an additional fee, in the privacy of your home or office. Appraisals are always prepared in conformity with generally accepted professional standards using the Code of Professional Ethics of the National Association of Jewelry Appraisers and the Uniform Standards of Professional Appraisal Practice (USPAP). As a Certified Member of NAJA, Van McMinn's work conforms to NAJA's Client's Bill of Rights.

Common appraisal needs are:

Insurance Replacement Value
Estate Valuation
Gemstone Identification or Authentication

Insurance Coverage

Most homeowner's insurance policies do not include coverage for loss or damage to jewelry unless the pieces have been appraised and scheduled separately. It is important to have appraisals updated every two to three years, as the value of gemstones and precious metals can fluctuate over time. An appraisal for insurance coverage estimates the current retail replacement cost in the event of fire, flood or theft. The vast majority of insurance coverage and claim reports are based on retail replacement cost because it is the value that the insured would have to pay to replace the item.

Estate Valuation

Estate appraisal reports provide customers with an itemized list of their personal property with abbreviated descriptions and estimated current fair market values. This type of report serves as an impartial document for establishing tax liabilities of an estate and to provide for equitable distribution of property among the estate’s heirs.

Fair Market Value

The IRS defines Fair Market Value as “the price that property would sell for on the open market. It is the price that would be agreed on between a willing buyer and a willing seller, with neither being required to act, and both having reasonable knowledge of the relevant facts.” Certain reports have to be written using Fair Market Values because they will be used in situations where only the intrinsic value of an item can be counted and not the additional markups, overhead and/or profit that are added into the cost of an item from a retail establishment. This type of appraisal is useful if one intends to sell the piece and for equitable distribution of estates or divorce settlements.

Gemstone Identification or Authentication

This type of consultation service, also called "confirmation of purchase", verifies the authenticity of a particular stone or piece, but does not include a full appraisal report or estimation of its value. This type of consultation is used to confirm that a piece is, in fact, what the seller represented it to be.