When was the last time your jewellery was valued? If you do not remember the date of your last valuation or if it was done a long time ago, then this article is absolutely for you. There are a number of people who initially get the jewellery valuation done to get the insurance but then do not look back to get the jewellery appraised again. This is a significant problem that many people fail to recognise. Getting the valuation done once does not provide you with a lifetime value. The jewellery is made from metal and gemstones, and with the passage of time, the value of these metals increases and decreases. Therefore, the valuation you received years ago is no longer valid.
As a jewellery owner, it is important for you to get the valuation done again and again. Gold prices rise and fall, diamond trends shift, and bespoke designs often gain value over time. If you are someone who thinks that the value your jewellery held years ago is still the same, then you are terribly wrong. They might have appreciated much more than you can even think of.
This article will help you understand why it is essential to have your jewellery valued regularly, as well as other important aspects of jewellery valuation that you should be aware of.
Why Jewellery Valuation Isn’t Just a One-Off
What does the jewellery’s valuation mean? Does it simply mean putting a price tag on your jewellery? No, it’s actually much more than that. It’s also about getting the right amount for your jewellery in case of an emergency. An inaccurate or outdated valuation can result in a figure that is significantly lower than what you should receive. It is therefore important to get the valuation done time and again at regular intervals.
- Market changes: The cost of gold, platinum, and gemstones fluctuates constantly.
- Wear, tear, and repairs: After resizing, replacing stones, or restoring a piece, its value can change.
- Insurance requirements: Many insurers insist on updated valuations every 2–3 years.
How Often Should You Revalue?
So, you may already know that you must get the valuation done regularly. But a common question people ask is that “Could you please clarify the regular interval for valuations and specify when they should be conducted?”
- For general insurance purposes: Every 2–3 years
- When metal or diamond markets change significantly: Every 1–2 years
- At insurance renewal time: Always check your
Jewellery Repair and Why It Affects Value
What did you do when the gemstone in your jewellery came out or the clasp on your necklace broke? Well, just like almost everyone else, you might have searched for jewellery repair services in London, right? Damage is a part of jewellery. Over time, frequent wear can damage these fragile pieces. Even getting repaired changes the value of your jewellery. The value of your jewellery can vary depending on whether the repair was minor or major.
· Minor repairs—like claw checks or re-polishing—help maintain your piece’s integrity.
- Major repairs or restorations—such as replacing stones, repairing bands, or resetting diamonds—can increase or alter the value.
Bespoke Jewellery in London: Unique Pieces, Unique Valuations
Anything that’s custom-made is unique. And this is a quality that adds value to the jewellery. Bespoke jewellery in London is pricier than similar metal and weight jewellery. The reason behind this is the craftsmanship that is employed in the making of the bespoke design, and this is what makes it special and precious. It is therefore important to get the bespoke designs valued immediately, and there are several reasons behind it which have been stated below.
- Unique craftsmanship: The artistry and design process add to replacement costs.
- Choice of materials: Rare gemstones or specific settings affect long-term value.
Summing Up
To sum up, getting the valuation done is an extremely important task that every jewellery owner must get done at the earliest. By the end of this article, you should have a clearer understanding of when to get the valuation done and the important factors to consider in your planning. All you need to do is find a good valuation services provider and get your jewellery valued every 2-3 years in order to stay updated about the current price of the jewellery.
