The assessment of market value
Fair market value reflects the second hand value of a piece of jewellery in a respectable or specialised market between a willing but anxious buyer and a willing but not anxious seller.
Retail: the estimated replacement cost for a piece of jewellery, this valuation is mostly for insurance purposes.
Auction reserve: this reflects the minimum price a piece of jewellery is expected to achieve at auction without buyer or seller premiums.
Non forced sale: this reflects an estimate of a reasonable second hand price between a willing buyer and seller in a fair or specialised market without time constraints.
Forced sale: this reflects an estimate of the price of a piece of jewellery with no time to trade in non ideal market conditions.
Divorce settlement: these valuations will usually reflect the specific instructions from the Family Court, often based on fair market value.
Estate division: these valuations will usually reflect the specific instructions from the legal fraternity or the executor of the will and are often based on fair market value.
Second hand sale: this reflects the present condition of the piece of jewellery including the desirability and collectability and the current market conditions.
Private sale: this reflects a fair and reasonable second hand price of a piece of jewellery when one member of the general public wants to sell this piece of jewellery to another member of the general public, excluding GST, sales tax and duty.
If you require more information, please do not hesitate to contact me.