A valuation is an expert independent third party verification on a piece of
jewellery, whether newly purchased, gifted or inherited.
A professional valuation is an important safeguard in dealing with the police or insurance company when jewellery is lost, stolen or damaged.
Not only will a valuation certificate provide proof of ownership in the happy event that the jewellery is recovered, but also insurance companies are unlikely to provide full compensation for an expensive piece of jewellery unless the owner can show its full value.
In addition, a valuation provides a comprehensive description of an item, which is very useful if there is a need to have a jewellery item remade.
We recommend valuations are updated every 2-3 years, this is consistent with insurance company recommendations. Price increases may mean that you are under insured and that the item cannot be replaced for the old value. Price decreases may save you on excessive premiums from your insurer.
The purpose of the valuation is firstly discussed with you to ensure it's appropriate for the use intended.
Some types of valuations:
Retail Replacement -
Mostly used for insurance purposes. Reflects the cost of replacing an item 'new for old' from a retail jewellery store. For vintage and antique jewellery a value is assigned that reflects the cost of a similar item in similar condition to be replaced in the vintage/antique market.
Auction Reserve -
Reflects the minimum hammer price that the owner may expect to achieve at auction, excluding premiums and commissions.
Deceased Estate -
Reflects current market value subject to instructions from the executor or solicitor of the estate.
Private Sale -
Denotes a price that one member of the public may expect to achieve when selling to another member of the public, excluding GST.
This is a price which can be achieved under the conditions of a forced sale. The most usual method being by auction where the article must be sold quickly in non-ideal market conditions.