Estate & Probate Appraisals of Jewellery, Watches, Handbags & Art
USPAP-Compliant · Personal Property · U.S. & Canada
Jack Holowczak, a USPAP-compliant personal property appraiser based in Toronto, prepares date-of-death fair market value appraisals of jewellery, watches, luxury handbags and art for executors, estate trustees and estates counsel. Engagements are documentation-driven and remote; the valuation date and the intended use are set by the executor or estate trustee with counsel or the estate's advisor and stated in the report.
Services
What to Send
- Clear photographs of each item: all sides, hardware, markings, hallmarks, serial or date codes, and any labels.
- Purchase receipts or invoices, and card or bank records where receipts are missing.
- Prior appraisals, insurance schedules, or authentication documents.
- Provenance documents: auction records, correspondence, certificates, or original packaging.
- The date of death, the valuation date or dates identified for the estate, and the inventory or list of items at issue.
How the Engagement Runs
- Inquiry and conflict check.
- Engagement letter stating intended use and users, standard of value, and effective date or dates.
- Documentation exchanged electronically.
- Examination of the record and a USPAP Standards 7 and 8 report.
- Delivery to the executor or estate trustee, or to counsel; testimony, where required, proceeds under the expert witness fee schedule.
Frequently Asked Questions
Can items be valued as of the date of death after they have been sold, distributed or lost?
Yes. Retrospective effective dates are standard appraisal practice. Value is developed from photographs, receipts, prior appraisals and market evidence for that date, and any limits of the record are disclosed in the report.
Is the insurance value the value for the estate?
Not usually. Insurance schedules typically state retail replacement value. Estate purposes generally call for fair market value; for U.S. estate tax, 26 CFR §20.2031-1(b) defines it as the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts. The same regulation looks to the market in which such items are most commonly sold to the public. The report states which standard and definition apply.
Do you need the items in hand?
Usually not. Engagements are documentation-driven; counsel or the executor arranges access to documentation or photographs, and any physical examination is addressed by written agreement.
Is this legal or tax advice?
No. Which property forms part of the estate, which valuation date applies and which filings are required are questions for estates counsel or the estate's tax advisor; the report states the valuation date, intended use and standard of value they identify.