Valuations

Jewellery valuations and the importance of valuing jewellery

There are different types of jewellery valuations that you may require for various reasons personal to you, such as valuations for insurance or probate.

An official valuation for insurance or probate will provide you with an accurate and official record of the value of your precious items. 

If you are thinking of selling your jewellery, you would not need an official valuation. 

We have explained the three different types of valuation in greater detail below.

Valuations for Insurance

 

A jewellery valuation certificate is a written document prepared by our independent appraiser. It ensures that you are appropriately covered in case of loss, theft or damage. An official valuation will help in the event of a claim as it gives a clear and detailed description of the jewellery and its true value. It includes a high-quality photo and a detailed description of the item, including stone type, size, quality, colour and cut, and an estimated current like-for-like replacement value.

Most insurers will require an up-to-date valuation certificate once every three years. You may not be adequately insured if your certificate is over three years old. If you return to HC Jewellers within the recommended three-year time scale, we offer each subsequent valuation at half price.

Insurance for Probate

 

A jewellery valuation for probate may be required for estate planning. Therefore, a professional and accurate probate valuation of the jewellery is important. The executor of the estate will need to acquire a valuation for any items of jewellery the person owned for calculating the value of their estate and for HMRC to produce an inheritance tax calculation. A probate valuation is entirely different from a jewellery valuation for insurance replacement because the probate valuation will assess what price the item(s) of jewellery could achieve if sold in an auction, in the trade or to an eager buyer in the current market.

Insurance for Probate

 

A jewellery valuation for probate may be required for estate planning. Therefore, a professional and accurate probate valuation of the jewellery is important. The executor of the estate will need to acquire a valuation for any items of jewellery the person owned for calculating the value of their estate and for HMRC to produce an inheritance tax calculation. A probate valuation is entirely different from a jewellery valuation for insurance replacement because the probate valuation will assess what price the item(s) of jewellery could achieve if sold in an auction, in the trade or to an eager buyer in the current market.

Are There Fees For Jewellery Valuations?

 

Yes. It takes many years of training and a series of exams to become a registered valuer, and they must have at least five years of experience in the jewellery trade. They must test each item to establish what it is before research can be carried out to obtain a value. The charges for the valuation reflect the time and experience taken for this service to be carried out professionally.

Our jewellery valuation service is conducted by our highly skilled jewellery appraiser with over 20 years of experience in the jewellery industry and with the following credentials:
F.I.R.V.96916, DGAP.J.(Gem) Dip. B.A. (Hons), Jewellery Design, F.N.A.J. Member of UK Gemmological Association, and Institute of Registered Valuers CPAA and Pearl Specialist.

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Valuations for Sale with HC Jewellers

 

If you have some unloved jewellery, we are quite often interested in purchasing it from you to add to our pre-owned collection. The quote we would offer for this would be different to an insurance or probate valuation as it would depend on how saleable we think the item would be in our store. There would be no charge for this valuation unless you require one to sell your jewellery elsewhere. We would also offer you a ‘scrap price’ for your jewellery if we think it is not something we would be able to sell. The scrap price is determined by the weight and carat of the precious metal.

Valuations for Sale with HC Jewellers

 

If you have some unloved jewellery, we are quite often interested in purchasing it from you to add to our pre-owned collection. The quote we would offer for this would be different to an insurance or probate valuation as it would depend on how saleable we think the item would be in our store. There would be no charge for this valuation unless you require one to sell your jewellery elsewhere. We would also offer you a ‘scrap price’ for your jewellery if we think it is not something we would be able to sell. The scrap price is determined by the weight and carat of the precious metal.

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In summary, a jewellery valuation is important for insurance, probate and sometimes if you ever decide to sell some of your jewellery. It is a necessary step to ensure that your jewellery is properly taken care of and valued.

If you would like to book an appointment or have any questions, please feel free to contact us.

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