Insurance Valuation
The cost of replacing a piece of jewellery will change over time. For example, 20 years ago, you may have bought a diamond ring for £150, but to buy the same ring today may cost £1,500 or more.
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To make sure you are fully covered by your insurance in the event of loss or damage, it is important to know an up-to-date value for your jewellery.
The size and quality of stones, as well as the weight and purity of precious metal can all affect the prices of your jewellery, and this is why it is so important to have a professional valuer assess your jewellery and document its value regularly (we advise every 3-5 years).
Valuation for Probate.
A valuation for probate is based on the price which the jewellery is likely to realise if it were sold at the time of death of the owner. As this does not take into account the current cost of labour, materials or current taxation levels, but only the current market situation, the figure put on the jewellery valued for probate will be considerable lower than a valuation for insurance purposes.