Jewellery often means far more to us than its monetary value. An engagement ring marks the beginning of a marriage. A gold bangle might have been passed down through generations. A necklace inherited from someone you love can hold memories that are impossible to put a price on.
There are times, however, when understanding its financial value matters too.
A professional jewellery valuation provides a written description of a piece, together with a value assessed for a specific purpose.
At Anupam, we arrange independent insurance valuations with Shirley Mitchell FGA DGA FJVA. We’ll explain the process and make sure you know the applicable fees before proceeding.
What is an insurance valuation?
An insurance valuation estimates the cost of replacing your jewellery with a comparable piece at current retail prices. It helps establish an appropriate level of insurance cover for a treasured ring, necklace, bracelet or other valuable item, subject to your insurer’s requirements.
Replacement value is often higher than the amount you might receive if you sold the same piece. This is because replacing jewellery involves sourcing or making a comparable item, rather than simply selling it on the open market.
If you’ve recently bought an engagement ring or own jewellery that has been valued several years ago, it’s worth reviewing your paperwork and checking with your insurer whether an updated valuation is needed.
How is jewellery valued?
A professional valuation involves more than weighing a piece or checking the current price of gold. Each item is examined individually, with the valuer considering the details that contribute to its value and applying the appropriate basis for the valuation.
Depending on the piece, this may include:
- Metal identification: Examining hallmarks and carrying out appropriate tests to establish the metal and its fineness. For example, 375 denotes 9ct gold, 750 denotes 18ct gold, 925 denotes sterling silver and 950 is a common fineness mark for platinum.
- Gemstone assessment: Identifying the stones and assessing relevant characteristics, such as size, colour, clarity and cut, where appropriate.
- Certificates and supporting documents: Reviewing any available diamond or gemstone reports, purchase receipts and previous valuations.
- Design and craftsmanship: Considering the style, construction and other relevant features of the piece.
- Condition: Assessing wear, damage, alterations and other factors that may affect its value.
- Photography and documentation: Recording the jewellery so that the report clearly identifies the item being assessed.
The finished report includes digital photographs and a detailed written description of the jewellery. Depending on the item, this may include gemstone weights and dimensions, hallmark details, gross weight and the assessed value.
If you have a GIA or IGI certificate, an original receipt or an earlier valuation, bring it along. These documents can be useful, although you can still enquire about a valuation if you no longer have the original paperwork.
Who carries out jewellery valuations at Anupam?
We arrange independent jewellery valuations with Shirley Mitchell FGA DGA FJVA.
An independent valuation provides a professional assessment of your jewellery for the purpose you require, separate from a decision about whether to buy or sell the piece.
At Anupam, we understand that many items brought to us have a story behind them. You may be reviewing your insurance or trying to understand a piece that has been in your family for years.
Whatever the reason, we’ll help you establish the next steps and explain how to arrange the appropriate valuation.
How much does a jewellery valuation cost?
We believe you should understand the cost before committing to a valuation.
Shirley’s fees are based on the number of items and the work involved, rather than the value assigned to your jewellery. This means the fee is not calculated as a percentage of what your pieces are worth.
Where appropriate, similar lower-value items can be grouped together, helping you create a useful inventory of your collection without the unnecessary expense of valuing every small item separately.
Insurance valuation fees
The following fees apply to new insurance valuations. All prices include VAT at the current rate.
| Service | Fee |
|---|---|
| Report and administration fee | £95 |
| Each standard item | £65 |
| Group of up to five similar, lower-value items | From £90 |
| Premium items and luxury watches | From £90 |
| Single-stone diamonds over 1.00ct | £75 per carat |
The report and administration fee is charged in addition to the applicable item fees.
Most jewellery falls within the standard item rate. Some pieces require more extensive research and assessment, which can affect the cost. Examples include diamonds over 1.00ct, large multi-stone pieces, Rolex watches and certain antique items.
For single-stone diamonds over 1.00ct, the specific fee is £75 per carat.
An example of how the fee is calculated
Suppose you have two items to be valued: one standard item and one premium single-stone diamond weighing 2.00ct.
| Item | Fee |
|---|---|
| Report and administration | £95 |
| One standard item | £65 |
| 2.00ct diamond at £75 per carat | £150 |
| Total | £310 |
This example illustrates how the report fee and item charges combine to give the total cost.
Insurance re-valuation fees
If your jewellery has been valued previously with Anupam, you may be eligible for a re-valuation at a preferential rate. Shirley’s schedule offers re-valuations on eligible items valued within the previous five years at 50% of the current item fee per item, plus a report update fee.
The supplied re-valuation fees are:
| Service | Fee |
|---|---|
| Report and administration fee | £95 |
| Each item | £35 |
A re-valuation can help you review the replacement values recorded on an earlier report as prices change over time. Before booking, we’ll help you establish which service is appropriate and confirm the applicable fee.
What if I have several pieces to value?
If you have a collection of jewellery, it’s worth discussing the pieces before arranging your valuation. Some items may need to be assessed individually, while similar lower-value pieces may be suitable for grouping.
This can be particularly useful if you’re organising your jewellery for insurance or creating an inventory of pieces you’ve inherited.
Where is the best place to get jewellery valued?
Look for a suitably qualified, independent valuer who can assess your jewellery for the purpose you need, explain the basis of the valuation and provide appropriate written documentation.
It’s also important to understand the difference between a valuation and an offer to buy. A jeweller or gold buyer may offer a price based on what they can resell or recover from an item. That figure is not necessarily the same as its replacement value.
Online calculators and jewellery valuation apps can provide a rough indication of certain values, but they cannot fully examine your individual piece, test its metal or assess its gemstones in person.
A professional assessment considers the jewellery itself, rather than relying on a photograph or a metal-weight calculation alone.
When should you have your jewellery valued?
There are several occasions when a valuation can be particularly useful.
When you buy a significant new piece
An engagement ring, diamond necklace or substantial gold bracelet may need appropriate insurance cover. Keep your purchase paperwork and check what documentation your insurer requires.
When your existing valuation is out of date
Replacement costs can change over time, so it’s worth reviewing your valuation periodically and checking with your insurer whether an updated report is needed.
When you inherit jewellery
Before deciding whether to keep, wear or remodel a piece, understanding its value can help you consider your options. Our guide to what to do with inherited jewellery explores the possibilities.
Arrange a jewellery valuation with Anupam
Whether you’re looking to insure a treasured ring, review an existing valuation or understand a family heirloom, we’re here to help you take the next step.
Visit us at Anupam in Ashford to discuss your requirements. We’ll help you understand the process and confirm the applicable fees before you proceed.
Book an appointment with us or get in touch with our team to discuss your jewellery valuation.
Anupam Jewellers
13 Church Parade, Ashford, Middlesex TW15 2TX
Your jewellery has a story. We’ll help you understand its value.
Frequently asked questions
How long does a jewellery valuation take?
The time required depends on the number of items, their complexity and the type of valuation needed. Contact us before booking so we can explain the process and expected timescale.
Can I have jewellery valued without the original receipt or certificate?
Yes, you can enquire about a valuation without the original paperwork. Any certificates, receipts or previous valuations you do have can be helpful, but the valuer will assess the jewellery itself.
How often should I update my jewellery valuation?
There is no single interval that suits every piece or insurance policy. Review your valuation periodically and check with your insurer whether an updated report is needed, particularly for valuable jewellery.
Can I have inherited jewellery valued?
Yes. A valuation can help you understand the pieces you have inherited, whether you are considering insurance or deciding what to do with them.
