Talk to a Registered Valuer
We are back today with another interview with Rob, UMUN Jewellery Studio’s registered valuer to discuss valuations and safeguarding your jewellery.
Let’s dive in shall we!
Why do I need to have my jewellery valued?
For a couple of reasons.
My valuation is a comprehensive description of the item so if you lose, damage or suffer a robbery, then it can be accurately remade.
If you are insuring the jewellery then the valuation provides the amount for cover and in the event of a claim the insurance company will usually require you to prove its true value.
Sometimes the jewellery is recovered after a robbery so the valuation is proof of ownership.
Maybe you will be selling your jewellery so you will need a fair asking price.
Why use a registered valuer?
I am a registered valuer with the National Council of Jewellery Valuers.
To be accredited the council requires me to pass a number of examinations about gemstones and jewellery manufacture so it is a guarantee of my professional ability on top of my lifetime of experience. The council also requires me to show how I invest time & further my knowledge to maintain my accreditation annually.
What does a valuation involve?
I carefully assess materials, design and manufacturing techniques of each jewel. Then I calculate the value using current market research. I provide a valuation certificate which contains a full description of your jewellery, including gram and carat weights, and a statement explaining the reason for the valuation and the intended market.
Should I bring in any past information that I have on my jewellery?
Yes, any existing documentation is helpful to be as accurate as possible. For example there may be a certificate from a laboratory describing a gemstone that is set into the piece. I do my own calculations and if the result is similar I adopt the information on the certificate. Its much easier to view colours and accurately measure and weigh gemstones before they are set.
How often should my valuations be updated?
I suggest annually as material prices fluctuate daily due to the international pricing structure of gold and gemstones. At the very least every two years to ensure the valuation serves its purpose. Some insurance companies may request up-to-date information.
Why is there a cost for performing a valuation?
A valuation is a legal document that requires expertise and time, sometimes a lot of time to accurately identify set gemstones. I have invested in my studies and some very expensive equipment to provide this professional service. We also have to have a special insurance and subscribe to be a member of the National Council of Jewellery Valuers.
Do you check the settings and clean my jewellery while it’s with you?
Yes, that’s a part of our service here at UMUN. We recommend you drop your jewellery in every 12 months so we can check the settings for wear and tear. This also gives us a chance to give it a sparkle up. Remember most jewellery is worn every day so it does suffer knocks and more wear in spots.
How much time should I allow for the valuations to be completed?
We encourage you to book an appointment in advance and then most of the time we can complete the valuation within the same day. Unless it involves too many items.
In summary & my last question …What do I receive when the valuation is completed?
“ Firstly clean rings…and importantly you will receive a valuation certificate which contains an itemised description of your jewellery, including gram and carat weights, and a statement explaining the reason for the valuation and the intended market”
Thank you Rob, for giving us an insight into valuations and their importance in safeguarding our beloved jewels. If your jewellery valuations need an update, contact the team at UMUN Jewellery Studio and make an appointment today.
