<p>I have to do an estate settlement as an executor. Do you have any experience in jewelry appraisal? The intent is to separate items into three piles and have the beneficiaries randomly receive one pile by lottery, there is no intent to sale and split the cash and the value does not have to be exact. there is approximately 100 items to be divided.</p>
<p>I have heard horror stories about jewelry appraisal by jewelry stores and some of the independent appraisers charge $180/hour. The estate has some antique jewelry that is hard to value.</p>
<p>Given the age of so many parents of posters and the difficulty in resell of jewelry that our Moms imagine is valuable, this is a great question.</p>
<p>I would also be interested in any ideas of where to try to sell any pieces that should not be handed down.</p>
<p>When I have needed appraisels (for insurance we go to our jeweler. This can be quite costly. What I would do is ask a jeweler whom you trust and ask him/her to come to your office or home. Give them an hourly rate (or a whole job check)…you should take a picture of each piece with a piece of paper and the appraisal. As each person picks a piece take down the picture/appraisal/ and who got it.</p>
<p>I was at my jeweler last week when a young woman wanted to sell her engagement ring. Purchased for 10, told it was 4…they offered her 2500. I left…too sad.</p>
<p>Is the divide-into-three-piles-and-each-person-gets-one-pile idea cast in concrete? Because what I have heard about – that I think works better – is to assign the three people numbers 1, 2 and 3, and let #1 select one piece, then #2, then #3; then #1 gets to choose again.</p>
<p>This way, everyone has a good chance of getting whatever it is that they want, and you avoid the need to do the appraisal. Unless it is required by the will??</p>
<p>I agree with VHappy. That is how I plan to divide my jewelry down the road and how I hope my mom will eventually divide hers (which is sitting in her safety deposit box). It makes a lot more sense to me, as long as the 100 pieces have several pieces of approximate equal value and isn’t just ONE valuable pieces and the rest all being trash. My SisIL died and eventually we are all supposed to look at her jewelry and figure out how to divide it–it’s more than 2 years and no one has made any move about it.</p>
<p>That’s a nice idea–or 1-2-3-3-2-1 and then maybe mix things up so 2 will get first draw. With 100 items, it can take some time to go through all of them.</p>
<p>The entire estate is not large enough for estate tax purposes, the current exemption is over 5 million and we do not come close.</p>
<p>The problem is that some of these jewelry are antique from generations before, mom mixed this with others like gifts which might not worth much. If we do this blind, there might be major differences in value being distributed and later on there might be an argument. I have possession of these items under my name in safe deposit box, so I have no access problem. It is equitable distribution the problem.</p>
<p>For example, in my own “collection” there might be items in the 50K range which looks identical to a 5K item in laymen’s eye. I did dispose all my collections and reduce it to cash, so I won’t have a problem if I die. </p>
<p>I only need a rough separation of the valuables to those have no value.</p>
<p>If you know what the item is made of, then ebay gives you a starting point. If it is “real” jewelry, then you need a person with a loup and knowledge. I was very surprised about some values for “junk” costume jewelry I got from the consignment store where I sold them. They did the quick tests for material (gold or gold over silver, diamond vs glass) and offered a price right on the spot. I was pleased. I couldn’t tell the good from the ordinary.</p>
<p>My dad’s wife distributed what she wanted to whoever she wanted it to go to, which still caused hard feelings. A niece NOT in favor got an ivory carving that should be in a museum, but wife didn’t like it “It was just junk” and her kids were SO MAD. </p>
<p>For my mom and the big box of costume stuff, we had the girls just go through it and pick out what they wanted and told them (ages 19-26) to be fair. and to pick something for the youngest (8 at the time) And the guys didn’t get anything. We depended on them to monitor themselves and be fair enough to be happy. And we told them going in that Life isn’t fair, the scales will never balance just right exactly so make yourself AND each other as happy as you can then let it go. I don’t know what they thought of it at the end, but I was glad it was one less thing I had to garage sale or consign or deal with. Not much was to my D’s taste so she took very little, but is HAPPY with what she has. (I think). </p>
<p>So we distributed blind and told them no complaints later accepted. Don’t know if that will work for your family. And I also thinned my box down considerably after coming back home. Offered my D first choice, then off to the consignment store . Got rid of the pieces I used to wear to work, nice, but not “special” in any way. I am down to my every day necklace, my pearls and my gold rope. (and waaaaayy too many earrings, LOL). </p>
<p>To distribute a museum quality item in blind is what I am trying to avoid. With the description from my Aunt, it sounds like there are few in my mom’s collection. Without knowledge in Antique Jewelry, I do not want to make a mistake like that. I have photographed everything already, so the siblings can find out the value in the future.</p>
<p>I called Christies, they can provide a service like I wanted for $500 flat rate which I think is fine. </p>