Can You Get a Tax Deduction for Donating Jewelry?
Yes! Jewelry donated to a 501(c)(3) nonprofit is tax-deductible at fair market value. For fine jewelry, estate pieces, and designer items, this can mean substantial tax savings—often more beneficial than selling.
OnlyFuego accepts fine jewelry for our charity rental program. Your donated pieces help others accessorize for special occasions while generating ongoing charitable impact.
Donate vs. Sell: The Smart Choice
Selling Jewelry
- Dealers pay 30-50% of value
- Consignment takes months
- Profit is taxable income
- Emotional difficulty
Donating Jewelry
- Deduct full fair market value
- Immediate tax benefit
- Reduces your tax bill
- Meaningful legacy
Example: $5,000 necklace. Dealer offers $2,000. Donating saves $1,200-$1,850 in taxes (24-37% bracket) and your piece continues being loved.
Types of Jewelry We Accept
Fine Jewelry
Diamond rings, gold necklaces, platinum pieces, precious gemstones, tennis bracelets.
Designer Pieces
Cartier, Tiffany, David Yurman, Van Cleef, Bulgari, Harry Winston, Chopard.
Estate & Vintage
Art Deco, Victorian, Edwardian, signed vintage pieces, antique brooches.
Watches
Rolex, Cartier, Omega, TAG Heuer, Patek Philippe, vintage timepieces.
Fashion Jewelry
High-end costume pieces from Chanel, Dior, Oscar de la Renta, statement pieces.
Special Pieces
Wedding jewelry, inherited pieces, one-of-a-kind artisan creations.
Typical Deduction Values
IRS Requirements for Jewelry Donations
Under $250
Receipt from nonprofit with description of item.
$250-$500
Written acknowledgment from OnlyFuego (provided automatically).
$500-$5,000
Form 8283, Section A with your tax return.
Over $5,000
Qualified appraisal required. We can connect you with certified jewelry appraisers.
Important: For jewelry over $5,000, the IRS requires an appraisal by a qualified appraiser completed no earlier than 60 days before donation.
Condition Guidelines
✅ We Accept
- Good to excellent condition
- Complete pieces (all stones intact)
- Working clasps and closures
- Vintage patina is fine
- With or without original boxes
❌ Cannot Accept
- Missing stones
- Broken chains or clasps
- Heavy damage or wear
- Costume jewelry (non-designer)
- Items needing major repair