Over time, you’ve probably picked up some pretty wonderful jewellery pieces.
That special gift from a loved one like a diamond heart pendant, that heirloom piece from your grandmother, and don’t forget your wedding jewellery and engagement ring! These items are no doubt absolutely priceless in terms of their meaning and importance to you.
But do you have any idea what it’s all worth in dollars?
What are valuations?
A jewellery valuation is where a professional jeweller will look at each item and give you a good idea of how much each piece would cost should you want to replace it.
For example, he or she will consider the cut, colour, clarity and carat of any diamonds, and will account for golds and real silvers. This will help determine how much it would cost to purchase the same piece, or have one especially made using the same design and quality of materials.
Why are jewellery valuations important?
Naturally, if you’re looking to sell some of your old jewellery, it will help you determine a fair purchase price for the new buyer.
However, you don’t have to be considering selling your old jewellery just to get a valuation. The main reason to have your jewellery valued is for insurance purposes. This is because if a special piece is stolen or lost and needs to be replaced, an up-to-date estimate of its price is the best way to ensure your insurance company knows exactly what it needs to pay out.
The price of such items can change over time, so if it’s been a while since your last valuation, be sure to see your jeweller for a quote and update your insurance company as soon as possible for a little peace of mind.
And of course, don’t forget to update your policy any time you add a new piece of jewellery to your collection!