I tried to insure my jewellery but the insurance company say I have to
have a valuation
Your insurer needs to know what the risk is so that they can calculate
your premium. They will accept the valuation of an NAG registered valuer.
I don't want to insure my jewellery I just want to know what its worth.
A valuation has to be written of a specific purpose. "What its worth"
can mean different things in different circumstances. Unless you have
another reason in mind what you probably want is an insurance valuation
which will give the current retail replacement value. If you are thinking of
selling jewellery then obtaining an offer from a retailer or getting an auctioneers
estimate is usually free. We will perform "Open
Market" valuations for those who prefer to have expert guidance on the
worth of jewellery without going down this route.
When should I get my valuation re-done?
We recommend that valuations are checked every three years or so. It
is quite possible that there has been not much change in so short a time
but variations in exchange rates and prices of raw materials can have a
sudden effect. We only charge a fee when the item's value has changed, so
"no change, no fee".
The antiques road-show do valuations free so why does it cost
what it does?
A valuation must be in writing to mean anything. We research, we
measure, we weigh, we calculate, we use instruments all to arrive at a
sensible value. We then write it down and sign it! All this needs
considerable investment in terms of experience, equipment and training so we
have to charge a professional fee.
I don't want to risk sending my jewellery in the post.
We cannot recommend you post jewellery to us but many of
our trade customers all over the British Isles do just this on a daily
basis. Indeed the jewellery trade would not operate at all without Special
Delivery post. We operate a speedy postal service
for jewellers and the
public are welcome to use it too. If you do not wish to do this there are other
options. We can come to you - ask about a home visit.
What if I disagree with your valuation or spot what I think is
an error.
We pride ourselves on accuracy and disagreements arise
only very rarely. Your first course should always be to ask the valuer for an
explanation. There is frequently a simple reason for what may look like a
mistake. We would always aim for maximum customer satisfaction so don't be
afraid to get in touch.
I have a certificate or receipt which states my gemstone weighs more (or
less) than you said in the valuation.
We always check the parameters of each stone against the certificate
or receipt if available. We use accurate tables and formulae to work out
the approximate weight based on the stone's measurements and will point
out a difference in weight calculation, if there is one. It is usually not
advisable to un-set a gemstone to confirm its weight since this can be
costly and may result in damage to the stone and the mount. In the event
that there is very little or no difference the certified weight is
taken to be correct where it was obtained by actual weighing. Similarly,
measurements in a certificate from a recognised laboratory are usually
obtained using very accurate optical measuring devices and are therefore
accepted as correct.
The declaration form asks me to
provide sales data, receipts, certificates, old valuations and the like, why
do you need all this information? I thought you valuers were experts!
This information is useful to the valuer when he has to appraise
recent purchases. In order to arrive at a valuation for insurance we
need to establish the market in which replacement will be made so we
need to know where the item was purchased and when. This is known as
showing "due diligence". Receipts often have details of stone weights
and other provenance which can be helpful. The trading position and
quality of service offered by the retail establishment you bought from
can make a big difference to the asking price. If information which
could effect the valuation is withheld the valuation becomes void
so it is in your interest to provided it if you have it. If there is no
sales data we can still value your jewellery so do not be concerned if
you can't find a receipt.
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