Ever wondered what the worth is of those antique pieces of jewellery that you hold? If you have inherited or received these pieces as gifts, it’s likely that you are unaware of their true value. But relax, you are not alone. There are many people today who do not know the real worth of their jewellery, and the only way to know what the real worth is by taking it to a trustworthy valuation company and getting the valuation done. This valuation will facilitate various processes such as insurance, probate, divorce, and estate planning. Therefore, a professional jewellery valuer will play a critical role in helping you know the real worth of your jewellery and also in securing it from any unforeseen circumstances.
What Exactly is a Jewellery Valuation?
Jewellery valuation is the process of getting to know the real worth of your jewellery. To get this done, a number of aspects are taken into account. These aspects encompass the metal, its colour, the design, its purity, the craftsmanship, and other factors. All these things are analysed closely, and the jewellery’s worth is calculated according to the market rate. This process is quite different from a casual appraisal and is widely accepted by insurance agencies, auction houses, and various other places. Typically, you consider the following factors when planning a valuation.
- Each item (metals, gemstones, and hallmarks) receives a detailed description.
- Professional photographs for identification
- Notes on wear, condition, and craftsmanship
- Market analysis and replacement cost
- A signed certificate or report for your records
Why Jewellery Valuations Are More Important Than You Think
Most of us underestimate the value of the jewellery we own. You don’t know how much the craftsmanship and design are worth, even if you know the metal’s current market price. Jewellery valuations help you understand the true value of your pieces and ensure that you have adequate insurance, so in the event of a mishap, you receive compensation that reflects their actual worth.
1. Insurance Protection
If you think that you once got the valuation done and it is for a lifetime, then you are terribly wrong. The jewellery’s valuation changes almost every year, and most of the time it increases. If you fail to complete the valuation annually, your insurance coverage may be inadequate. If your jewellery gets lost and you have the old valuation, you may end up receiving an amount that is less than what you are insured for.
2. Inheritance & Probate
In critical cases such as inheritance and probate, it becomes extremely important that you get the right valuation at your disposal. This will help you in dividing the assets fairly, and everyone gets the clarity regarding the worth that they are inheriting.
3. Resale & Market Insight
If you plan to sell your jewellery or auction it, documenting the valuation amount can give you an advantage in price negotiations, as you will possess a certificate verifying the worth you are requesting.
4. Emotional & Historical records
Many items carry sentimental stories — engagements, anniversaries, or family heirlooms. A proper valuation preserves that story for generations to come.
The Step-by-Step Jewellery Valuation Process
If you are someone who is new to the process of valuation and wants to understand things easily, then below we have listed a few important steps in brief that will help you in having a fair idea about the entire process in detail.
Step 1: Assessment
When you take your jewellery to the valuation agency, they have a good number of professional valuers who will closely analyse your items and, depending on the gemstone quality, setting, hallmarks, and overall condition, estimate their worth.
Step 2: Market Research
Next, they will compare the total worth of your jewellery according to the market research and documentation they have done. This will provide you with an idea about the value that your jewellery can fetch at auctions or when sold in the open market.
Step 3: Documentation
Once all these things have been done, they provide you with the official certificate, which can be shown anywhere. You can also get the insurance done for the amount mentioned in the document.
Summing Up
To sum up, getting the valuation done is an effortless process, but it is something that most people avoid. This leads to the jewellery’s undervaluation, so you won’t get its true worth. Valuation is therefore crucial, and it needs to be completed as soon as possible.
