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A jewellery valuation is a
valuable service to people who own diamonds and
jewellery or are in the process of buying diamonds
and jewellery.
First, the jewellery valuation
can identify your jewellery as to the material,
quality, workmanship, condition and other
characteristics that influence the item’s value. For
example, diamonds that appear similar to the eye can
vary in terms of colour, clarity, cut, fluorescence,
measurements and durability. These are all factors
that uniquely identify one diamond from another and
can cause the value of one stone to be more than
double that of another even if they are identical to
the unaided eye.
Second, the jewellery
valuation can estimate the value of the jewellery
item. The definition of value can vary depending on
the purpose of the appraisal. For example, an
valuation could be quite different if the purpose
is:-
- selling the item
- purchasing an item from a
retailer
- insuring the item after
purchase
- settling an estate
- distributing property in
a divorce
- an expert witness in a
lawsuit.
Third, the jewellery valuer is
a witness to the existence of the property. This is
important in the process of filing an
insurance claim for the loss of an item where
proof might be required that the jewellery existed
at a certain point in time and was in a certain
condition. This is why a valuer should insist on
examining the jewellery item when updating an
insurance appraisal.
Fourth, the jewellery valuer
can provide advice as to the durability, wearability,
and repair of jewellery items. Jewellery made of
metal and gemstones can vary greatly in their
hardness, toughness, and resistance to heat or
chemicals. Because the valuer has professional
training (i.e. Graduate Gemologist) and is not
involved in the sale of the item, they can provide
unbiased recommendations based on their experience.
When selecting a jewellery
valuer, understand why you are seeking the jewellery
valuer’s services so you can choose the best
provider of those services. Professional jewellery
valuers set their fees based on an hourly rate or a
per item basis, never as a percentage of appraised
value. Valuers who are efficient and highly
computerized can often provide lower prices for
services than those performing the same task but
take twice as long to perform them.
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