Inheritance: what to do with family jewelry?

Have you inherited jewelry from a family member following their death? Are you unsure whether it is useful to have them appraised? Are you hesitating to sell them? Find out what to do with inherited jewelry in an estate, and where to have them appraised if you wish to sell them.

We guarantee the best prices; if you hold a direct buyback offer from a competitor, not only will we match it, but we also commit to offering you a higher bid.

If you have inherited jewelry following the death of a family member, several options are available to you:

• Keep the jewelry: you may then use it as you wish, that is, wear it or store it somewhere with the intention of passing it on to your descendants in turn
• Sell the jewelry: in this case, you will first need to have it appraised to know its value and sell it at a fair price.

Diamantaire Paris offers an alternative for immediate buyback of jewelry without selling at auction.

More information without appointment at 43 rue Beaubourg 75003 Paris, or by phone: +33 1 48 87 23 37

Our customer service is available free of charge to appraise your jewelry.

Taxation of jewelry from an estate

During an estate, heirs may call upon an auctioneer to establish an inventory of movable assets and estimate their value. This step is called the appraisal. It is possible not to have an appraisal: the movable estate will then be evaluated based on a flat rate, namely 5% of the deceased's total estate.

If you have chosen to carry out an appraisal and the inherited jewelry is part of the assets evaluated by the auctioneer, then the taxes on the jewelry will already have been paid with the inheritance taxes. If there is a sale subsequently, no tax will be applied, provided that you have kept the proof.

However, most often, jewelry is transferred before the person's death, and thus will not be included in the movable assets estimated during the appraisal. You will then have to pay a tax called the Flat-Rate Tax on Precious Objects. This tax is payable upon any sale of precious objects, that is, jewelry but also works of art or antiques.

The rate applied depends on the nature of the object sold. If it is gold bullion or coins, the tax rate is 11.5% from the first euro. If it is jewelry, art objects, or antiques, however, the tax rate is 6.5%, only if the object was sold for more than €5,000 per unit.

In other words, jewelry received as part of an estate is not subject to any tax if the sale price does not exceed €5,000 per piece of jewelry.

Having your family jewelry appraised as part of an estate

We advise you to have any jewelry received in an estate appraised, even if you do not wish to sell it, especially if the jewelry is set with precious stones.

To have your precious jewelry appraised, it is necessary to consult experts such as a diamantaire or a gemologist. If your jewelry is set with a diamond or any other precious stone, its value will depend primarily on the quality criteria of the stone. A diamond's value is assessed based on 4 criteria (the 4 Cs): color, cut, clarity, and carat weight.

If you plan to sell your jewelry, the appraisal will allow you to set a fair selling price. If you do not plan to sell it, you will obtain a certificate of authenticity that will prove useful for your heirs or in case of theft of the jewelry during a burglary, for example. It is an essential document for any owner of precious jewelry.

To have your jewelry appraised, you can turn to Diamantaires Paris OG. Our experts offer a free initial appraisal as well as a buyback value for your inherited jewelry. You are then free to accept or decline our offer.

Selling your family jewelry from an estate

To sell your inherited jewelry following the death of a family member, the appraisal step is essential. Having an estimate of your jewelry's value will allow you to know its rarity and thus the price at which you can sell it. It is not possible to base it on the purchase price of the jewelry at the time (if it was communicated to you by your relative before their death) because the value of precious metals and stones fluctuates greatly over the years.

Moreover, if it is antique jewelry, note that jewelry made in the past no longer meets current standards. An antique piece of jewelry sold will therefore generally be recut or melted down before being resold or worn.

Once you have had your jewelry's value appraised, several options are available for its sale. You can offer it at auction or have it bought back by a jeweler or diamantaire, such as Diamantaires Paris OG.

Estate: Diamantaires Paris OG buys your family jewelry

Our diamond experts buy your antique jewelry, whether set with diamonds or not. We welcome you with or without an appointment in the 3rd arrondissement of Paris for a confidential and free appraisal of your jewelry. Once your jewelry has been appraised, we make you a buyback offer without delay. If this offer suits you, we proceed immediately with payment by bank transfer or check.

We guarantee the best purchase prices. If you hold a direct buyback offer from a competitor, not only will we match it, but we also commit to offering you a higher bid.

Contact us now for more information on buying back your inherited jewelry as part of an estate.