Valuations

"Do you do valuations?"

We value items for one of three purposes:

  1. For Insurance
  2. For Probate
  3. For Private Sale

If you have other reasons to ask for a valuation, please discuss this with us.

We cannot, however, simply tell you what your property is worth as the value of an item depends on the type of valuation undertaken.

 

Insurance:

Your property should be adequately protected by insurance. If you have cover based on a valuation provided some years ago it would be prudent, due to the fluctuating costs of gemstones, precious metals and labour, to have a re-appraisal. If you are unlucky enough to lose your jewellery, have it stolen or damaged, you need to receive adequate cover to replace the articles.

An insurance valuation sets out to describe your items in enough detail to allow similar items to be brought or made in replacement. The value given to each item is based on replacement cost, that is the retail price (including VAT), to you the client, of replacing an item with a reasonable equivelent.

Probate:

Probate valuation is in respect of goods that form part of the estate of a deceased person. The goods are valued on the basis of the price they might reasonably be expected to fetch if sold in the second hand market at the time of the death.

These values will be considerably lower than those for insurance purposes, as they do not reflect the current costs of materials and labour.

Private Sale:

Private sale valuations reflect the price likely to be obtained by the client in a sale to a person in a private capacity. This valuation will take into account not only the condition, style and quality of the piece, but our view of the market possibilities at the time of the valuation.

The Valuation Document will:

  1. Show that on the date stated, the items existed and were examined by the signatory.
  2. Ensure that in the event of a dispute with an insurance company or loss adjustor, a firm foundation exists on which to base a claim.
  3. Ensure that replacements are comparable in quality and value with the original.

Please note: a valuation of insurance replacement does not reflect the sum likely to be obtained if you, the client, were to sell the goods.

Estimates for Insurance Replacement

In the unfortunate event of loss of damage to your jewellery we can provide you with an official estimate for your insurance claim. There is an initial charge for this service which is redeemable if the replacement or repair is proceeded with us.

Be assured of our utmost care of your property. All items left with us are covered by our comprehensive insurance whilst in our possession.