A jewellery valuation assesses the quality of each component of a piece of jewellery or loose stone in order to derive a value for a specific purpose.
Purposes of Valuation
Because the circumstances in which one may have a piece of jewellery valued differ, there are various types of valuations such as:
- Retail - Usually used to obtain an insurance value.
- Auction Reserve
- Non Forced Sale
- Forced Sale - For example bankruptcy or liquidation.
- Second Hand
- Private Sale
- Divorce Settlement
- Deceased Estate
When calculating the final value, the purpose is taken into account, and therefore, the final value for each purpose will differ greatly.
Benefits of Valuation
Apart from receiving a dollar value on the item, a jewellery valuation will also provide proof of ownership, an accurate photograph and/or description should the piece be lost as well as an assessment as to the quality of the piece.
Whilst different valuers use different tools, Australian Gem Testing Laboratory lists a number of tools they use to perform jewellery valuations.
Jewellery Valuations vs Diamond Grading Certificates
A jewellery valuation is often limited to the skill, knowledge and training of the valuer. This is due to the fact that valuers typically use a limited set of tools to appraise and value a diamond or piece of jewellery. On the other hand, a diamond grading certificate describes the characteristics of a diamond using sophisticated gemmological equipment. As such, a diamond grading certificate can be used to assist the valuer with a valuation and to arrive at a more accurate final value.
Where to Get Jewellery Valued
Valuation and Assessment (NCJV)