Valuation Types

Did you know that there is no all-encompassing, one size fits all value for a watch or a piece of jewellery?  On the contrary, there are, in fact, numerous values that can be applied to the same article.  The reason for this is down to the type of valuation required and its intended use.

Here we will give you an insight into the different types of valuations that we undertake.  Irrespective of the type, each valuation is presented in a quality bound presentation folder and will always contain the following:

Letter of Transmittal and Introduction
The letter of transmittal ‘LOT,’ explains the instructions, market, and conditions under which the watch or jewellery valuation has been undertaken.

Valuation Schedule
– A full and detailed description of the item(s) presented for valuation.
– Assessed colour and clarity of any diamond set pieces, including dimensions and weights.
– Gemstone type and quality, for any gemstone set pieces, including dimensions and weights.
– Nature of the manufacture and style of the item(s).
– Hallmarks and any other identifying marks.
– Thumbnail colour digital photographs of your item(s).

Notes to the schedule
the ‘NTS’ explains some of the procedures employed in preparing your valuations, its scope, and its limitations.

Image Gallery
a collection of multiple detailed colour digital photographs of the item(s) contained within your valuations schedule. 

Glossary of Terms
a full explanation of any technical words or terms used in your valuation.

Please contact us for further information or to discuss your individual valuation needs.

Valuation types

Insurance replacement valuation
An insurance valuation is used to determine what a comparable new or second-hand item will cost to replace, in the unfortunate event of a loss or theft. The valuation contains sufficient detail, which can aid in identifying the item(s), should your they be recovered after a theft, or be of particular assistance in the process of restoration or repair.

Due to the continued fluctuations within the precious metal commodities market and exchange rates,  you are recommended to have your valuation updated every two to three years.

Probate valuation (confirmation of Will in Scotland) 
in certain situations, the executor of a deceased’s estate will require a valuation for probate, which must comply with Section 160 of The Inheritance Act 1984.  It enables HM Revenue and Customs to establish the correct amount of duty that may be due on the estate.  

Division of assets (Divorce settlement/family division) 
in the unfortunate event of a divorce or separation, a division of assets valuation is used to calculate a fair settlement amount between both parties.   This valuation type can also be prepared to support a pre-nuptial contract.  As with a probate valuation, the values ascribed are not suitable for obtaining insurance.

Post Lost Assessment
A post-loss assessment is conducted when someone has suffered a loss/theft and does not have any or perhaps has only limited or outdated evidence to support their insurance claim.

A post-loss assessment is not an actual valuation, as the item(s) can no longer be physically examined.  However, it is more a considered quotation or estimate for replacement, based upon relevant information supplied by the client. Completeness and accuracy of the information provided are critical, as even the smallest detail could have severe ramifications upon the final settlement amount.

In certain situations, your insurance company may request an external company to conduct a post-loss assessment.  Unlike members of the Jewellery Valuers Association, these companies are not valuers and only have a minimal amount of watch and jewellery knowledge.  Therefore you could be agreeing to a settlement amount that does not truly reflect the item(s) you had.

We can prepare you an independent, unbiased, post-loss assessment report, which can be submitted to your insurance company in support of your claim.  It may help to ensure a swifter, hassle-free, and possibly higher settlement.

Additional valuation types are available.
We are also undertake valuations for the purposes of Capital Gains Tax, Loan Security and cash liquidation.  We also provide pre-sale inspections, grading and gemstone identification for our trade clients.

For further information on these or any of our private or trade valuation services, please feel free to contact us.


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