The Importance of Jewellery Valuations


The Need for Accurate Valuations

We often neglect the fact that jewellery, like most things in life, depreciates in value as time goes by. Valuations are generally sought for insurance purposes. This is the highest value and is the current retail price with about 15% escalation. This valuation is in an estimated cost of replacement with an item of similar specifications.

In 2012 gold touched R: 22321.47 per troy ounce, as opposed to R: 19140.25 in 2011, R: 16827.29 in 2010 and only R: 13203.62 in 2009. Under-insurance, combined with rising gold prices, make valuations a good investment.

Why is it important to have your Jewellery Evaluated on a regular basis ?

Gold and Diamond prices have changed dramatically in recent years. In order to keep up to date with changes in the Jewellery market you need to have your items valued at least every 3 years.  Whether you received your jewellery as a gift, inherited a piece, or purchased it for yourself, it is important that you protect it, and even more so, have it insured.

Any insurance company will require a jewellery valuation in order to determine its value. If you are not aware of the value of your Jewellery you could find yourself out of pocket after an insurance claim and may not be paying the correct insurance premiums.

Different types of Valuations

Insurance Value

This is the highest and current retail price, usually with a 15% escalation.

Retail Value

This is the current retail value for your item, should you go to your local jeweller and purchase your item today.

Second Hand Value

This refers to the second hand value of an item. A client can receive between 50% to 75% of its value when selling a jewellery piece to a jeweller.

Estate Value

This is the lowest valuation, usually about 25% of the retail value. It is the value which a piece would obtain on a forced sale.

The Ralph Jacobs Promise

At Ralph Jacobs, we believe in always placing our clients in a winning situation.  We have professional Jewellers on site to evaluate your Jewellery, and make sure your precious treasures are always insured for the right amount, and that you pay the correct amount for your insurance.

Contact us today to Schedule an appointment for your Jewellery Valuations.


Source: Ralph Jacobs Style Blog