Auction Valuation Vs Insurance Valuation

For those who possess antique collection or jewellery items, they have often been told two values for their items - auction value and insurance value. If you are wondering as to what is the difference between the two, read on.

If you go to an appraiser service to know the value of the antiques or jewellery that you own, you might be told two or three different values - auction value, retail value, and insurance value.

Auction Valuation

At what value your antique or jewellery item would sell in an auction, is its auction valuation. It is the value that appraisers at auction houses might tell you verbally.

Auction value might be the price at which the bidding can start or it can be the price at which the item is expected to be sold in an open market. In this case, it considered that no one is forced to buy or sell the item. In some cases, the rarity of the piece might fetch much more than its expected retail price. If you own a rare antique item or jewellery piece, you must go in for the auction route to get the best deal. For your normal piece of jewellery, the auction value would be lower than what it would sell for at a retail store.

Insurance Valuation

Insurance valuation is the value at which the owner can replace the item if it is stolen or destroyed. It is the price that the owner gets within a reasonable time and not after bargaining or hunting for months. If you have a beautiful diamond ring, its value for insurance will be given after a detailed analysis of the diamond and other precious stones if studded in it along with the value of the metal. The diamond would be checked for its carat, colour and cut grading.

You can get in touch with the expert valuers at Prestige Valuations if you want to get jewellery valuation for insurance purpose. They provide a high-quality jewellery valuation document for insurance purpose. They also offer an onsite or home valuation service. Their experts will examine your jewellery and provide a written valuation for insurance, which describes in detail your items of jewellery.

Digital photographs will be taken, distinguishing features will be noted and full description and details will be written for each item. This makes it much easier to identify your jewellery if it is ever lost or stolen. 

To know more, call: 0207 242 9933 or email: info@prestigevaluations.com.