5 essentials you need to know about online jewellery valuation

Gold, diamond and other precious metals and stones studded jewellery is not just accessory but is an asset. Cherished pieces of jewellery in your jewellery box are not just worth their aesthetic value but are insurance policy against hard times. People go for jewellery insurance in order to get a cover from loss or theft. When you choose an insurance provider one of the things they will ask you for is a “valuation”. The entire process of jewellery valuation for insurance can be time consuming. And in today’s hectic lifestyle finding time can be very difficult. For people who are leading ultra busy life, jewellery valuation online is a time saving solution. You can easily revaluate your jewellery online without any need to visit in person! Here are five essentials you need to know before going for online valuation.

1.       Valuation needs to be done by certified professional

There are some basic precautions that need to be taken while getting the jewellery valuation online. The first requirement is that the professional must be a certified in the field. The valuation should be done by experienced and qualified professional, not just somebody who works in or owns a jewellery shop. Using a member of the Institute of Registered Valuers will ensure the job will be done properly. All “IRV’s” as they are called have individual reference numbers so you can check their credentials with the institute online.

2.       Proper valuation document

The valuation must be prepared professionally as a typed valuation document. Along with the value, proper description of the jewellery item/items must be mentioned. Also a detailed description of any gemstones present including their type, style of cut, estimated or calculated carat weight and in the case of diamonds of a certain size an assessment of their colour and clarity. Mention measured dimensions and gram weight. It should contain details of any hallmarks or other stamps and engravings. Assessment of condition should be mentioned. If possible, the method of manufacturing should also be written. The document should contain the details of any tests carried out on metals.

3.       Original purchase receipt

For an online valuation, you don't need a lot of documents, just the original purchase receipt or invoice or professional valuation documentation, this is to know for sure that you own the jewellery. Prestige Valuations is your best bet for jewellery valuation online.

4.       Must contain photographs of the jewellery

Make sure you send in pictures of the jewellery you want to valuate. The updated valuation will be send to you by email. If you are getting your jewellery valuated in person, then a professional valuer should have facilities to photograph your jewellery and include these photographs in the valuation document they present. They should also check for any signs of wear and tear.

5.       Local valuation is required

Whether you bought your jewellery from any other country but you need to get its local valuation done and your jewellery would be insured locally.