Appraisals and Valuations

At Ainsworth Jewellers we believe that whether it’s to safeguard monetary or sentimental value, protecting your prized possessions gives you peace of mind that if the worst was ever to happen, you’re covered.

In the event of loss, you must be able to prove that you owned the items you are making a claim for. Valuations establish that you owned the pieces at the time of the valuation and their correct replacement value for insurance purposes – this is especially important in the current economic market of fluctuating metal prices.

Many insurers do not ask for valuations below an agreed value but our advice is to obtain valuations for all significant items.

“A valuation is an opinion given in good faith and based on commercial knowledge and experience of the value of goods for a certain purpose and at a particular time.”

(National Association of Jewellers Valuers Guide)

There are three parts that have to be thought about when conducting every type of valuation:

  • The description
  • The appraisal
  • The value

The first piece of information required before any valuation can begin must be the purpose for which the valuation is required.

Valuation for Insurance Purposes

Valuation for insurance replacement is based on the replacement cost, that is, the retail price (inc VAT) to the customer of replacing an item or items of goods with either an exact replacement or a reasonably equivalent item.

Retail price means the price that would be charged at the time of the appraisal of the item.

In exceptional circumstances the valuation may be based on the estimated cost of recreating the item exactly to the original design.

A Valuation for Insurance Purposes does not reflect the figure likely to be obtained if the client sells the goods.

Valuation for Private Sale (Sale between parties)

Valuation for a private sale or disposal reflects the price likely to be obtained by the seller in a sale to a person in a private capacity.
It is usual for the figure produced by this form of valuation to fall somewhere between cost and retail prices, excluding VAT.

Valuation for Probate

Valuation for Probate is in respect of goods that form part of the estate of a deceased person. The goods should be valued on the basis of the price they might reasonably be expected to fetch if sold in the open market at the date of death.

When valuing these items for Probate, account should be taken of the condition of the goods at the time of valuation and their immediate saleability.

Family Division (Divorce Situation)

This is used to cover the value of the assets in divorce proceedings.

Increasingly the value of jewellery and watches are of sufficient value to be considered part of the assets which are subject to division.

With this type of valuation, consideration is given to the purchase value as well as any resale value, and the final accepted value would in most cases be a matter for any lawyers or judges to decide.

Valuation Costs

Probate Valuations:

£ 50.00 + VAT / Hour taken

Insurance / Sale between Parties and Family Division (per Item):

1. £85.00
2. £140.00
3. £195.00
4. £250.00
5. £305.00
6. £360.00
7. £415.00
8. £470.00
9. £525.00
10. £580.00

(For more than 10 items please call for a quote)

Home Visits

We can arrange for a valuer to conduct the Valuation in your own home:

£ 995.00 will include the first 10 items and travel.

£ 55.00 per item is charged for each additional piece above the initial 10 items.