Selling inherited jewellery in Ireland

First: inventory and secure

Jewellery does not spoil. Until the estate is settled and everyone agrees what should happen, the right place for it is somewhere secure, with a written inventory: a line per piece, a photograph, and any hallmarks you can read. That list costs nothing and prevents most of the disputes and doubts that arise later. Do not clean, repair or separate stones from settings; it can destroy value and evidence.

Valuation for probate

When an estate goes through probate in Ireland, its assets are declared to Revenue on the Statement of Affairs, and jewellery forms part of that declaration. The relevant figure is the open market value at the date of death: what the items would realistically fetch, not the insurance replacement value, which is usually far higher because it reflects the retail cost of replacing the item new. Using an insurance figure in a probate context overstates the estate, so it matters which kind of valuation you ask for.

A proper probate valuation lists each item, identifies the metal and fineness, records weights, notes gemstones, and states a value with the date and basis. For precious metal items, the metal is tested and the value tied to the market price on the valuation date. Our valuation service produces a written report on exactly this basis, and because we do not make offers on items we value, the figure is independent of any interest in buying them.

What executors should keep

Executors are accountable to the beneficiaries, so the paper trail is the point. Keep the inventory, the written valuation, and, if items are later sold, the receipts showing what was paid and by whom. If jewellery is distributed to family members rather than sold, record who received what against the valuation. It is much easier to do this at the start than to reconstruct it a year later.

Deciding what to sell, and where

Inherited jewellery usually sorts into three piles.

• Pieces the family keeps. The valuation records what they are worth, which matters for fairness between beneficiaries and for insurance.
• Pieces with value beyond their metal. Signed pieces, antique items, good diamonds and coloured stones, gold watches from named makers, Irish Georgian and Victorian silver. These may do better at auction; get an estimate before melting anything. Our guide to melt value versus resale value explains the signs.
• The remainder. Broken chains, single earrings, worn rings, dated pieces, dental gold, odd bits of silver. Their realistic value is their gold or silver content, and the fair price is a published rate per gram against the live market, which you can check before speaking to anyone.

Selling the metal fairly

When you are ready, the process should be transparent: each item tested by XRF, weighed on a proper scale, priced at a published rate, itemised, and paid by bank transfer with ID recorded. With us that works by post from any county: request a free insured pack, send the whole box, and every piece is sorted, tested and itemised on camera. Plate and costume come back free, anything worth more than melt is flagged, and you decide with the itemised offer in front of you. In-person appointments in Dublin open spring 2027; for larger estates before then, message us and we arrange collection.

Tax, briefly

Inheritance itself is a Capital Acquisitions Tax matter for the beneficiary, assessed against group thresholds that depend on the relationship to the deceased. Selling later is a Capital Gains Tax matter: tax at 33 percent applies only to any gain over the date-of-death value, after the annual exemption of 1,270 euro, and disposals of personal belongings for 2,540 euro or less are exempt. In practice most inherited jewellery sold for its metal within a few years produces no CGT. Our page on whether selling gold is taxable goes through the rules with links to Revenue. This page is general information, not legal or tax advice; for the estate itself, your solicitor remains the right person to ask.