Inheritance Tax on Jewelry: What You Need to Know

Upon a death, family jewelry is part of the estate assets just like an apartment or a bank account. They must therefore be declared at their market value as of the date of death — and someone must establish that value. This is where our profession meets yours: since 1985, we have been appraising jewelry and diamonds passed down, for both heirs and notaries.

This page summarizes, in clear language, what French law says about the taxation of jewelry in an inheritance: how they are valued, why they escape the famous "5% lump sum", which allowances apply, and the deadlines for declaration.

Jewelry is included in the estate at its actual value

The principle is simple: all of the deceased's assets are added together to form the estate. Jewelry, watches, precious stones, and works of art are included, whether they are in a safe, with an heir, or in a drawer. Their retained value is the fair market value on the date of death, i.e., the price at which they could be sold — not their purchase price from the past, nor their sentimental value, nor the price displayed in a jeweler's window today.

This distinction has very concrete consequences: a solitaire purchased for €12,000 in 1995 may be worth significantly more or significantly less today, depending on the quality of the stone, its cut, and the market conditions. Only a gemological appraisal can determine this.

Trap #1: The 5% lump sum does not cover jewelry

Many heirs believe that household goods — and therefore "everything that is not real estate" — can be declared as a flat 5% of the rest of the estate. This is a costly mistake.

This 5% lump sum does exist: it is provided for in Article 764 I 3° of the French General Tax Code, but it only concerns furniture and furnishings, i.e., within the meaning of Article 534 of the Civil Code, furniture intended for the use and ornamentation of apartments: beds, chairs, tables, tapestries...

Jewelry, precious stones, works of art, and collectibles are subject to a separate regime, that of Article 764 II: they must be valued and declared separately. The tax doctrine (BOFiP) is explicit on this point. In other words: applying the 5% lump sum and "forgetting" jewelry exposes the estate to a tax adjustment.

How the tax authority values jewelry: three methods, in order

Article 764 of the CGI establishes a hierarchy. The following order is used:

1. The price from a public sale that occurred within two years of the death. If the jewelry goes through an auction house, the price obtained is conclusive.
2. The valuation from an inventory drawn up within five years of the death. This is the most common and most controlled method: each piece is appraised individually.
3. The heirs' estimated declaration, in the absence of the first two. This is the riskiest path if not supported by a serious appraisal.

And most importantly, a specific rule for jewelry sets a floor: if the deceased (or their spouse) had taken out an insurance policy against theft or fire covering these jewelry items, which was in force on the date of death and taken out less than ten years before, the declared value cannot be lower than the valuation stated in that policy. In the case of multiple policies, the average of the valuations serves as the reference. We detail this point — and its nuances — in our dedicated page on insurance and jewelry valuation.

Allowances and tax brackets: how much do you really pay?

Jewelry is not taxed separately: its value is added to the rest of the estate, then the allowance specific to each heir and the tax bracket corresponding to their family relationship are applied.

Current allowances

• Surviving spouse or civil partner (PACS): full exemption from inheritance tax.
• Child (direct line): €100,000 per parent and per child.
• Brother or sister: €15,932.
• Nephew or niece: €7,967.
• Disabled heir: additional €159,325, cumulative.

Direct line tax bracket

Beyond the allowance, the taxable portion of each child is subject to a progressive tax bracket:

• up to €8,072: 5%
• from €8,072 to €12,109: 10%
• from €12,109 to €15,932: 15%
• from €15,932 to €552,324: 20%
• from €552,324 to €902,838: 30%
• from €902,838 to €1,805,677: 40%
• beyond €1,805,677: 45%

Between siblings, the rates are 35% up to €24,430 and 45% beyond. Detailed breakdowns by case, with practical examples applied to jewelry, can be found on our page tax brackets and allowances.

A rough estimate

Take an estate of €700,000 (an apartment at €600,000 and €100,000 in jewelry) shared between two children. Each receives €350,000, minus €100,000 allowance: €250,000 taxable, i.e., approximately €48,200 in inheritance tax per child. In this total, the portion attributable to jewelry—€50,000 per child taxed at 20%—represents alone about €10,000 in tax per heir.

This is the crux: these taxes must be paid in cash, while jewelry is not liquid. Many heirs choose to sell some pieces to finance the tax bill; we explain how to do this properly on the page selling jewelry to pay inheritance tax.

Deadlines not to miss

The inheritance tax return must be filed within six months of the death if it occurred in mainland France, and within twelve months if it occurred abroad. After this deadline, late interest of 0.20% per month accrues, plus a 10% penalty beyond twelve months—increasing to 40% in case of an unanswered formal notice.

Six months go by quickly when you need to locate, gather, and appraise scattered jewelry. That is why we receive clients without an appointment: an appraisal generally takes less than an hour.

What we do, concretely

Our role is that of a market professional, not a notarial office:

• we identify and weigh each piece, check stones with a loupe and refractometer, verify hallmarks and signatures;
• we provide a substantiated market value, piece by piece, which you transmit to your notary for the declaration;
• if the heirs decide to sell, we make a firm offer, with immediate payment and an invoice—a useful document for the estate file.

This appraisal is free and without obligation: you remain free to keep the jewelry, share it, or sell it elsewhere.

Updated July 24, 2026 — tax brackets and allowances are subject to change with each Finance Act.