What is a Valuation?

First of all, ‘value’ is not ‘price’. The ‘price’ of something refers to a single transaction. The value of something is determined for a certain purpose, in a certain place and by researching multiple transaction prices, not just one.

Appraisal

In order to value something, you have to know what it is.

‘All that glisters is not gold’ (Shakespeare, Merchant of Venice, Act II scene VII, Prince of Morocco)… or silver, or diamonds, or sapphires, or rubies etc., and this is where the Appraisal comes in – to determine the precise nature and quality of the materials used in an item of jewellery and the quality of its manufacture.

In order to appraise precious gemstones they have to be scrupulously clean.

Gemstones

Not all gemstones are all they appear to be. They could be natural or they could be treated in some way, or they could be synthetic (man made versions of natural gemstones), or they could be imitations (glass, plastic or something else).

Telling the difference and assessing differing qualities is the highly specialised job of a gemmologist and the most prestigious qualifications in this field are the Fellowship of the Gemmological Association (FGA) and the Diamond Member of the Gemmological Association (DGA).

Valuation

A modern, professional valuation is fully researched and is wholly justifiable. This means that enquiries are made for current gemstone, precious metals, and manufacturing costs, or through major jewellery makers (Cartier, Tiffany etc.), or, where appropriate, through auction houses.

In this way direct comparisons can be made with like items in the appropriate markets at the time of valuation and are therefore less susceptible to being challenged (e.g. in the event of an insurance claim, or by HMRC).

Metals

Thanks to the best part of a thousand years of the British Hallmarking system, appraising metals is relatively straightforward. Where British hallmarks are absent however, tests have to be carried out to try and identify precisely what an item of jewellery has been made of – another highly specialised skill.

Description

The description of your jewellery is of course a major part of the valuation and this comprises both a narrative description (e.g. “A modern brilliant cut diamond cluster ring in a handmade platinum mount”), and a data record of dimensions, gross weight, estimated weight of individual gemstones, age, makers’ marks etc.

Photography

Naturally photographs are expected,
usually front and back at least, so that
a comprehensive record of the items
is kept. It is not normally required to
photograph items for a Probate Valuation

Julian Cousins COA

My Accreditation

The Gemmological Association of Great Britain

The Gemmological Association of Great Britain, or Gem-A, is the world’s longest established provider of gem and jewellery education.They serve the interests of the gem and jewellery industries through the high standards of education on their courses and their support for global gemmological research.

The Academy of Valuers

Training for Jewellery Valuers. Provided by Experts

The Academy of Valuers is a learned society for the study and advancement of knowledge in gemstones, jewellery, silver and other precious metals, horological items and matters pertinent to the assessment, appraisal and valuation of such items. 

The Academy organises talks, lectures and practical workshops by leading experts on relevant topics, to train and improve working knowledge of its members in order that they can approach the subject in their professional capacities with confidence, safe in the familiarity of the latest reseach and technological advancements.

Julian Cousins COA
Julian Cousins COA

The Jewellery Valuers Association

The Jewellery Valuers Association is the only independent governing body in the UK exclusively for jewellery valuers. Its members comprise some of the most qualified and experienced professionals in the jewellery industry.

Membership of the Jewellery Valuers Association requires a recognised gemmology qualification, a recognised diamond grading qualification, a recognised valuation qualification and at least 5 years’ experience in the jewellery industry.

Jewellery Valuation - how long does it take?

How long does it take?

Most appraisals, including cleaning, gem testing and photography of under 10 items can be completed in 2-3 working days, although it may be as long as a week or even 2 to schedule-in a mutually convenient time. Sometimes additional research may be required, extending this timescale.

Jewellery Valuation - what do I need to bring?

What do I need to supply?

As well the items to be be valued, for Insurance valuations, please supply the most recent copy of your Insurance policy and policy schedule. For all valuations, please supply all existing paperwork relating to the items to be valued: original purchase receipts, previous valuations, receipts for past repairs and any diamond, or coloured gemstone grading reports. These all to provide a ‘paper trail’ of your ownership. Failure to provide all relevant paperwork may result in a second, chargeable consultation.

Jewellery Valuation - how much does it cost?

How much does it cost?

If you would like me to provide a valuation of your jewellery, you will be asked to sign my Privacy Statement and agree to my take-in explanatory notes and limiting conditions