If you are someone who has recently been thinking about questions like, “How much is my jewellery actually worth?” or “Should I get a valuation before insuring or selling my watch?” then you are not alone and are also headed in the right direction. When someone owns something expensive, be it jewellery, a watch, or antiques, there can be two ways to have them: either you inherited them or maybe you might you bought them. In both cases, the chances are high that you are not aware of the recent price of the asset. It therefore becomes important to ensure that you get the valuation done before getting them insured. Completing the valuation will inform you of the asset’s current market price, and it will also allow you to obtain insurance for a higher value, since luxury asset prices typically rise each year.
So, whether you are simply preparing to sell your stuff or planning to get the insurance, getting the valuation done becomes extremely crucial. Therefore, it is crucial to ensure that your valuables are not undervalued and that you can obtain a valuation higher than their previous value. But before we understand the importance of getting these done, let’s first dive into the details and understand why, after all, the jewellery valuation matters.
Why Jewellery Valuation Matters
The value of the jewellery you own changes over time. The value of the metal and gemstones can increase, along with other factors, all of which contribute to changes in the current value of the jewellery. You may believe that the internet can answer many questions, including the current value of your jewellery, but this is not true. Only a professional jewellery valuation by a reputable agency in your area can estimate the current value of your jewellery. When you plan to obtain a professional valuation, the agency will provide several items, which may include:
- Proof of ownership
- Accurate replacement value
- Updated documentation for insurance
- A detailed record with images and descriptions
What’s Included in a Professional Valuation
Before obtaining the documents that state the true value of your assets, you will need to complete several steps for a professional valuation. We take several steps, analyse various factors, and use multiple elements to determine the current worth of your jewellery.
- Gemstone grading
- Metal testing and hallmark verification
- Condition assessment
- Detailed photographs
- Updated market comparison
- Official valuation certificate
Understanding Watch Valuation
Watches are considered no less than assets these days. You might have noticed many people buying luxury watches recently, but this purchase is not merely spending; in fact, it represents an investment in these watches. There are various branded watches these days, like Rolex, Omega, Cartier, Patek Philippe, etc. These watches are often seen to appreciate in value, and as time passes and they get older, the overall value increases, especially if they are kept well maintained and secure without damage or scratches. Getting the watch valuation done becomes critical if you are planning to list any of these things.
- You’re insuring your watch.
- You plan to sell or trade it.
- You’ve inherited a watch and need its value confirmed.
- Your last valuation is several years old.
The Role of Antique Valuations
Antiques are items from past eras that are often more valuable and less commonly found today. The unique characteristics of antique assets enhance their overall value. When you plan to test the features of the antique, which include things like craftsmanship, rarity, maker, provenance, and condition, the overall price of the asset increases or decreases. Certain items are associated with specific eras, which causes their value and price to increase or decrease based on today’s valuation. Many individuals seek antique valuations for various reasons.
- Probate and inheritance matters
- Selling or consigning to auction
- Insurance protection
- Asset documentation
Summing Up
To sum up, if you have assets like jewellery, watches, or antiques, it is extremely important to get the valuation done as soon as possible. Completing the valuation will help ensure that all your assets are adequately insured, and it will also provide you with an understanding of the current market value of your jewellery. The only thing that you need to pay attention to is getting in touch with a good valuation company at the earliest.
