VALUATIONS

01.05.09 / Uncategorized / Author: admin
Tags: VALUATIONS

What is my jewellery worth? This is the most asked question of any jeweller, the answer is complicated and it depends on the reason that the valuation is required.
The most often requested valuation is for INSURANCE REPLACEMENT
This is the price that you would be expected to pay in a high street shop to replace the lost jewellery PLUS 10% to allow for natural increase in retail
prices.
The second most requested is THE CASH VALUE if the goods are sold; this is how much a jeweller is willing to pay. If the item/s are gold this will be determined by the daily price of gold and the weight of the goods for sale.
If diamonds or coloured stones are involved the matter is much more subjective and as a rough guide approx. ¼ to 1/3rd of the INSURANCE RELACEMENT can be expected, but of course that is only a guide and if the item is particularly desirer able a much higher price can be obtained.

When selling the best course of action is to decide the type of shop to approach 1. The shop should sell second hand jewellery of the type that you are offering. 2 DO NOT TRY THE LARGE MULTPLE jewellers the will not be interested or will only offer a low price. 3 Visit at least shops IN THE SAME DAY (The price of gold can change dramatically from day to day)
Do not be fooled when you are given a high price, but informed that they are not buying. THE GOODS ARE WORTH WHAT SOMEONE IS WILLING TO PAY FOR IN CASH ON THE SPOT. Not some fictitious price that is not a cash offer.

PROBATE VALUATION this is the same price as the cash value of the goods.

SALE BETWEEN PARTIES If two private customers wish to sell one to another the price is half way between CASH price and INSURANCE REPLACEMENT PRICE.

AGREED VALUE if the item is one off and impossible to replace you must agree a cash sum that would be agreeable to the owner in the advent of loss.

And last but by no means least SENTMENTAL VALUE it is impossible to place a cash price on it.