Benefits of Jewellery Valuation

Has your expensive jewellery been ever stolen?

It is obviously not a good feeling, especially when you were yet to get it insured.

Even if your house owner’s insurance covers your possessions, you will need to prove its value. This is when a valuation becomes important.

In the case of theft, covering yourself is one reason to get your jewellery valued and insured, however this is not the sole reason.

Let’s have a deep look at what happens during valuation and why it is so important 

Why should you opt for the jewellery valuation?

There’re two main reasons of getting your jewellery valued & both have to do with obtaining the best value. Let’s take a look at the two important reasons

Fair Market Value

This type of valuation is done in the case of estate settlement, private sale, and dissolution of marriage / divorce settlement, liquidation, tax liability & collateral. The prices are identified by analysing current market value and condition of the item. It would generally be lower than the retail value. 

Getting your jewellery valued is protecting your investment. Yes, you might have items that are irreplaceable; however it does help to know you are getting all you can in the event they are damaged, stolen or lost.

Fair Replacement Value

Most of the individuals get their jewellery valued before (or quickly after) making a major jewellery purchase. The two main reasons behind this are – Firstly to ensure that the item they bought was presented correctly by the selling party and secondly for insurance purposes. The valuation helps insurance company to insure the full price so that it can be replaced in case of damage, loss and theft.

Who should you go to for the jewellery valuation?

In order to get the perfect assessment of your items you must always take your jewellery to a certified jewellery appraiser.  Not everyone who has knowledge of Gemstones is qualified to assess the jewellery and give an accurate value to it. 

What your valuation report must contain?

• Your name & address
• Type of jewellery
• Materials used in making the jewellery 
• Type of gemstones used
• Stone’s grading
• Colour photograph
• Latest precious metal values
• Origin of the jewellery and designer
• Reason behind valuation
• Dated and signed by the appraiser

Only those appraisers who have gained proper certification can give an accurate valuation of your item with the above details.

Irrespective of the platform whether traditional or online jewellery valuation service, you choose to get your valuation done, it is important that you get it done by a credentialed expert and do it regularly.