Jewellery Valuation

Jewellery valuation, as its name explicitly suggests, is the process of determining the value of any jewellery item. Jewellery item could consist of a watch with diamonds, silverware, bracelets etc. The person having a jewellery item should know the value of jewellery he/she has got. There could be many reasons behind conducting a valuation process of the jewellery or in other words there are different purposes of jewellery valuation. Some of the important purposes of jewellery valuation are mentioned below.

As mentioned earlier, jewellery valuation could be done on different jewellery items for different purposes. Jewellery valuation process helps both the customers and the jewellery retailers. Before discussing the purpose of jewellery valuation, please note that you should not confuse jewellery valuation with other certificates like diamond grading certificate; which only describes different physical characteristics of the diamond. Here are some very basic usages of jewellery valuation:

• The most common purpose of jewellery valuation is the insurance process. For example, if a price of the diamond that you bought was $15,000 and after the valuation process, its price comes out at $20,000. If this happens then you can give that amount to the insurance company and then your diamond piece will be insured for $20,000.
• Another common usage of jewellery valuation an assessment of the jewellery items. It is always recommended to carry out an assessment or evaluation of your jewellery items independently. These valuations should be carried by an evaluator who has the skills and the experience to find the finds in different jewellery items like diamonds, gemstone etc.

Another common question that usually arises in our mind, when we hear the word jewellery valuation, is who should value our jewellery items. First of all, it is mandatory for jewellery valuers to have the skills and experience and should be trained in gemmology and other jewellery specific areas. Since the prices of jewellery items are so high as compared to any other product that you use in our daily life, the valuation needs to be of a high standard. While discussing UK, the highest standard is shown by the National Association of Goldsmith’s Registered Valuers Scheme. The number of its registered valuers is more than 350 in UK. These valuers have adequate experience and qualifications in the field of jewelleries, gemstones, diamonds etc.