What is Jewellery Valuation and What is The Need of It?

Jewellery Valuation

Jewellery valuation is basically defining different types of jewellery on the basis of different parameters. The assessment is carried out by an expert. In general, the experts determine the value of the jewellery by keeping in mind certain important factors. These factors include, the material used in making the jewellery, the quality of diamonds and gemstones used in the jewellery, how old the jewellery is, its condition, how well maintained it is and so on. Evaluating the value of the jewellery helps you a lot in various different aspects , such as sale value, insurance, fair value in the market, family settlement, foreign travel, for tax purposes and so on.

Prestige Valuations is a company in the UK that helps you in jewellery valuations, watch valuation, antique valuation, probate jewellery valuation and so on. These valuation services are provided on the spot, either at their office or at your home and online as well. Not only that, they also provide you with some other important services such as jewellery repair service and jewellery remodelling and redesigning service.

Evaluation of Jewellery Requires Serious Expertise

Yes, you read that right. Jewellery is a very precious and delicate material. We should not take it lightly. It is an asset that helps us a lot during the time of our requirement. Therefore, it is necessary that we take the help of an expert valuer to know the value of our jewellery. An expert valuer is one who has at least five years’ of experience in this industry. He needs to have valuation qualification, diamond and gemological qualifications. You need to check and cross check these aspects before going to the expert for the valuation services.

You must be wondering what is the need of evaluating your jewellery? Well, there are several reasons for this. For example, while insuring your collection of jewellery, the value of the ornaments will decide how much you will receive, if you are required to claim for it. So, you will be paid only the amount that you have taken out of the policy. One more thing you need to remember is that, jewellery valuation is not meant for every type of jewellery, so make sure that you only evaluate those ornaments that have high value in the market, such as gold, silver, platinum, diamond and gemstone jewellery.

The Importance of Jewellery Valuation

There is always a fluctuation of price in certain types of jewellery, such as diamond, gold, platinum and gemstones. In fact, the price of the jewellery varies according to the types. For example, the price of the gold varies from the price of the diamond and same goes for other jewellery like gemstones and platinum. In general, it is because of the metal and the stones used in designing the jewellery, determines its price. Sometimes their price rises, and sometimes they fall. Therefore, it is necessary to remain up to date all the time and for that you need to keep them evaluating from the professionals from time to time. Whenever you purchase jewellery, its demand, value and price increases the next day itself. For example, if you are purchasing a gold ring for yourself, today there may be a different price and tomorrow the price may become twice the actual price. So when you are exchanging it tomorrow to buy another piece of jewellery, you will gain a lot of profit. For different metals and precious stones, the duration required for the value to increase varies. It is another reason why you need jewellery valuations.

When you are trapped in a situation, where your jewellery has been robbed or has been damaged in some natural calamities, for instance, in that situation if you know the value of your ornaments and have made an insurance policy for them, you can easily claim for it and get your money back. Evaluation of jewellery will also help you a lot during a family dispute or a divorce settlement and both the parties can get the benefits out of it. It is also helpful, if you’re travelling to a foraging country and also help you in getting tax benefits as well.

Summing Up

These are some of the benefits you will get from jewellery valuations. You can also use other precious things, such as watches for valuation as well. Keeping yourself up to date with the evaluation of your jewellery will benefit you in so many ways.