Inheritance Tax on Jewelry: What You Need to Know

At a death, family jewelry forms part of the estate, just like an apartment or a bank account. It must therefore be declared at its market value on the day of death — and that value must be established by someone. This is where our profession meets yours: since 1985, we have been appraising jewelry and diamonds passed on, for heirs as well as notaries.

This page summarizes, in plain language, what French law says about the taxation of jewelry in inheritance: how it is valued, why it escapes the famous "5% flat rate", which allowances apply, and within what deadlines to declare.

Jewelry enters the estate at its real value

The principle is simple: all 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. The value used is the market value on the day of death, i.e., the price at which they could be sold — not their original purchase price, not their sentimental value, and not 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 state of the market. Only a gemological appraisal can determine this.

Pitfall #1: The 5% Flat Rate Does Not Cover Jewelry

Many heirs believe that household goods — and therefore "everything that is not real estate" — can be declared flat-rate at 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 General Tax Code, but it only applies to furniture and furnishings, that is, within the meaning of Article 534 of the Civil Code, movable items intended for the use and ornamentation of dwellings: beds, chairs, tables, tapestries…

Jewelry, precious stones, works of art, and collectibles fall under a separate regime, that of Article 764, II: they must be valued and declared separately. Tax doctrine (BOFiP) is explicit on this point. In other words: applying the 5% flat rate and "forgetting" jewelry exposes the estate to an adjustment.

How the Administration Values Jewelry: Three Methods, in Order

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

1. The price of a public sale held within two years of the death. If the jewelry goes to auction, the price obtained is conclusive.
2. The estimate from an inventory drawn up within five years of the death. This is the most common and most controlled route: the pieces are appraised one by one.
3. The heirs' estimated declaration, failing the previous two. This is the riskiest route if not supported by any serious appraisal.

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

Allowances and rates: how much is really paid?

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

Allowances in force

• 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.
• Heir with a disability: an additional €159,325, which can be combined.

Direct-line rates

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

• 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 brothers and sisters, the rates are 35% up to €24,430 and 45% beyond. The breakdown by case, with worked examples applied to jewellery, is available on our page on rates and allowances.

An order of magnitude

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

That is the whole issue: this tax is paid in cash, whereas jewellery is not liquid. Many heirs choose to sell part of it to fund the bill; we explain how to do this properly on the page selling jewellery to pay inheritance tax.

Deadlines not to be missed

The inheritance declaration must be filed within six months of the death when it occurs in metropolitan France, and within twelve months if it occurs abroad. After this deadline, late payment interest of 0.20% per month accrues, plus a 10% penalty beyond twelve months — rising to 40% if a formal notice remains unanswered.

Six months pass quickly when you need to find, gather and have dispersed jewellery valued. That is why we see clients without an appointment: an appraisal generally takes less than an hour.

What we do, in practical terms

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

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

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

Updated on 24 July 2026 — rates and allowances are subject to change with each Finance Act.