Published 5 April 2026
Where probate sits in the UK
In England and Wales (and similarly in Scotland and Northern Ireland), an estate where the deceased owned assets above certain thresholds typically needs a Grant of Probate (or Letters of Administration) before assets can be formally administered. During that period, the executor or administrator is responsible for valuing the estate, paying any Inheritance Tax due and distributing what remains in line with the will or intestacy rules. Selling significant items before that process is complete can complicate the administration.
Probate valuations versus commercial valuations
For the probate paperwork HMRC expects, jewellery and precious-metal items normally need a probate valuation prepared by a qualified valuer, often a jeweller, auctioneer or specialist valuer. This valuation reflects market value at the date of death. A postal buyer's written commercial offer, by contrast, is a present-day offer to buy, not a probate valuation. The two serve different purposes.
After distribution: the beneficiary's choice
Once the executor has distributed items to the beneficiaries, those beneficiaries decide what to do. Some keep everything. Some keep sentimental pieces and sell the rest. Some sell everything. A postal buyer fits at this point: a written, itemised XRF valuation, a no-obligation offer, and a free tracked return if it is not for you.
Capital Gains Tax for beneficiaries
If a beneficiary later sells inherited items, the CGT base cost is generally the probate value rather than the original purchase price. If the sale price is below the probate value, there may be no gain at all; if above, the gain may be within the chattel exemption (currently £6,000 per item) or the annual CGT allowance. This is general information, not tax advice, speak to a tax adviser for a specific position.
Common questions
Can an executor sell estate items themselves?
Yes, where the will allows and where doing so is in the estate's interests. Larger items are sometimes sold during administration to fund Inheritance Tax. Beneficiaries should be kept informed and a clear paper trail kept.
Is a postal buyer's offer acceptable as a probate valuation?
Not on its own. For HMRC purposes, use a qualified probate valuer. The postal buyer's offer is a commercial figure for an outright present-day sale.
What if items are jointly inherited?
Decide as a group what is sold and how the proceeds split. A written, itemised valuation gives everyone the same set of facts to work from.