Inheritance tax on jewellery: what you need to know

When someone dies, family jewellery forms part of the estate assets just like an apartment or a bank account. It must therefore be declared at its market value on the date of death — and that value has to be established by someone. This is where our profession meets yours: since 1985, we have appraised inherited jewellery and diamonds, for heirs and notaries alike.

This page summarises, in plain language, what French law says about the taxation of jewellery in an estate: how it is valued, why it escapes the famous “5% flat-rate option”, which allowances apply, and the deadlines for declaring.

Jewellery enters the estate at its real value

The principle is simple: all the deceased’s assets are added together to form the estate. Jewellery, watches, precious stones and works of art are included, whether they are in a safe, at an heir’s home or in a drawer. The value used is the market value on the date of death, i.e. the price at which they could be sold — not their original purchase price, nor their sentimental value, nor the price on a jeweller’s tag today.

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

The number one trap: the 5% flat-rate option does not cover jewellery

Many heirs believe that furniture — and therefore “everything that is not real estate” — can be declared at a flat rate of 5% of the rest of the estate. This is a costly mistake.

This 5% flat rate does exist: it is provided for by Article 764, I, 3° of the French General Tax Code, but it applies only to household furniture, i.e., within the meaning of Article 534 of the French Civil Code, furniture intended for the use and ornamentation of apartments: beds, seats, tables, tapestries…

Jewellery, precious stones, works of art and collectibles fall under a separate regime, that of section II of the same article: they must be valued and declared separately. The tax authorities’ doctrine (BOFiP) is explicit on this point. In other words: applying the 5% flat rate and “forgetting” the jewellery exposes the estate to a tax reassessment.

How the tax authorities value jewellery: three methods, in order

Article 764 of the CGI sets out a hierarchy. The following are used, in order:

1. The price achieved at a public auction held within two years of the death. If the jewellery goes to auction, the price obtained is authoritative.
2. The valuation in an inventory drawn up within five years of the death. This is the most common and most controlled route: the items are appraised one by one.
3. The heirs’ estimated declaration, if neither of the above applies. This is the riskiest route if it is not supported by a serious appraisal.

And above all, a rule specific to jewellery sets a floor: if the deceased (or their spouse) had taken out an insurance contract against theft or fire covering this jewellery, in force on the date of death and taken out less than ten years earlier, the declared value cannot be lower than the valuation shown in that contract. In the case of multiple policies, the average of the valuations is used as the reference. We detail this point — and its nuances — on our dedicated page on insurance and the value of jewellery.

Allowances and scale: how much do you actually pay?

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

The allowances in force

• Surviving spouse or PACS partner: total exemption from inheritance tax.
• Child (direct line): €100,000 per parent and per child.
• Brother or sister: €15,932.
• Nephew or niece: €7,967.
• Heir with a disability: an additional €159,325, which may be combined.

The scale in the direct line

Beyond the allowance, the taxable share of each child is subject to a progressive scale:

• 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%
• above €1,805,677: 45%

Between brothers and sisters, the rates are 35% up to €24,430 and 45% above that. The details for each situation, with worked examples applied to jewellery, can be found on our scale and allowances page.

An order of magnitude

Take an estate of €700,000 (an apartment at €600,000 and €100,000 in jewellery) shared between two children. Each receives €350,000, less the €100,000 allowance: €250,000 taxable, or around €48,200 in duty per child. Within that total, the share attributable to the jewellery — €50,000 per child, taxed at 20% — represents on its own around €10,000 in duty per heir.

That is the whole challenge: this duty is paid in cash, whereas jewellery itself is not liquid. Many heirs choose to sell part of it to fund the bill; we explain how to go about it properly on the selling jewellery to pay the duty page.

Deadlines not to miss

The inheritance return must be filed within six months of the death when it occurred in mainland France, and within twelve months if it occurred abroad. After this deadline, late interest of 0.20% per month accrues, to which a 10% surcharge is added beyond twelve months — raised to 40% in the event of a formal notice that remains unanswered.

Six months pass quickly when you have to find, gather and have valued jewellery that has been scattered. That is why we welcome you without an appointment: a valuation 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, examine the stones under a loupe and with a refractometer, and check the hallmarks and signatures;
• we establish a substantiated market value, piece by piece, which you pass on to your notary for the return;
• if the heirs decide to sell, we make a firm offer, with immediate payment and an invoice — a useful document for the succession file.

This valuation is free and without obligation: you remain free to keep the jewellery, share it out or sell it elsewhere.

Updated on 24 July 2026 — scales and allowances may change with each Finance Act.