Valuations & Estimates
With over 40 years’ experience in the jewellery trade, we offer an independent valuation service.
This service is chargeable but offers you a detailed certificate with a breakdown of each item.
There are three main types of valuation available:
The valuation is usually based on the cost of replacing your jewellery with similar items. If you prefer, it may be based on the estimated costs of re-creating articles exactly to the original designs.
The valuation is based on the price which the jewellery would have realised had it been sold at the time of the death of the owner. As this does not take into account the current cost of labour, materials or tax, the figures put on jewellery valued for probate will be considerably lower than those for insurance purposes.
The valuation will take into account not only the condition, style and quality of the jewellery but the jeweller’s view of the market possibilities at the time of the valuation. Fair selling prices will be suggested on the date of appraisal – probably a figure between insurance and probate values.
Frequently asked questions
Why do I need a valuation?
The best way to protect your jewellery in the event of loss or damage is to insure it – and this requires a valuation. To make sure you receive the correct sum in the event of a claim, you need a professional valuer to examine your jewellery and to produce a formal document giving a precise description of each piece and confirming how their value has been determined. It is essential that you discuss with me how you would replace your items if they were to be lost as this is fundamental to the type of valuation produced.
Why do my insurers need a valuation?
In the event of loss, you must prove that you owned the items you are making a claim for. Valuations establish that you owned the pieces at the time of the valuation and their correct replacement value for insurance purposes. Many insurers do not ask for valuations below an agreed value but our advice is to obtain valuations for all significant items. Smaller pieces can be grouped together and an overall value allocated. Without a valuation, insurers often use claims management specialists to try to find the value of jewellery after it has gone – an unsatisfactory process known as a post-loss valuation. Valuing something after you have lost it often results in an under-assessment of the lost item’s true value.
When claiming for the loss or damage on a piece of jewellery, your insurance company may require an insurance estimate to replace or repair your lost or damaged item.
I am able to provide you with an Estimate, although there is a small charge for this service, I do refund the charge should we be chosen to replace or repair the items claimed for.