-17-
estimated that these six items had a total lower estimated value
of $70,000 and a total upper estimated value of $107,500.
Carmona ascertained that the fair market value of these six items
totaled $146,200. Carmona’s total fair market value for these
six items is 84.83 percent (($146,200 - $79,100)/$79,100) greater
than the total of their auction prices.
The 13 loose gemstones sold at auction for a total auction
price (exclusive of buyer’s commissions) of $764,600. Christie’s
estimated that these 13 gemstones had a total lower estimated
value of $488,000 and a total upper estimated value of $656,000.
Carmona ascertained that the fair market value of these 13
gemstones totaled $1,100,000. Carmona’s total fair market value
for these 13 gemstones is 43.87 percent (($1,100,000 -
$764,600)/$764,600) greater than the total of their auction
prices.
Christie’s estimated that the five items of jewelry which
did not sell at auction had a total lower estimated value of
$28,000 and a total upper estimated value of $39,500. Carmona
ascertained that the fair market value of these five items of
jewelry totaled $37,200. Christie’s estimated that the one loose
gemstone which did not sell at auction had a lower estimated
value of $14,000 and an upper estimated value of $16,000.
Carmona ascertained that the fair market value of this single
gemstone was $9,100.
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