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VALUATIONS
What is a valuation?
A jewellery valuation, also known as a valuation certificate, is a document that provides a detailed description and a value judgement of a jewellery item. The value is a judgement based on current market conditions. The different markets the valuation is prepared in reference to (retail replacement, deceased estate, auction reserve and more) can vary significantly and this is taken into account when the valuation is produced.
Why might you need a jewellery valuation There are a number of reasons why you may require or want a valuation certificate. The most common reason valuations are sought is for insurance purposes. The vast majority of jewellery valuations produced are for the purpose of insurance. Valuations for auctions reserves, non-forced sale, forced sale, second-hand sale, private sale, divorce property settlement, deceased estate, and quality assessment are some of the other types of valuations that can produced. |
Where you can get a valuation When you buy a new piece of jewellery, a valuation certificate from the retailer is acceptable as long as there is a full and detailed description of the item on the certificate and, most importantly, the valuation figure that appears on the certificate is the same as the price actually paid. The only exception to this is when a retailer who has one or two genuine clearance sales per year sells a product at a genuine discounted price and where that retailer believes that it would not be able to replace the item for the price actually paid. For pre-owned jewellery we recommend consumers use an National Council of Jewellery Valuer registered valuer to value their jewellery or check that the person valuing your jewellery has the appropriate qualifications for assessing jewellery. There is no legal obligation for a jeweller to give you a valuation certificate when you buy an item. However, many jewellers will often offer to provide a valuation certificate, particularly for items above $1,000. They may charge a fee for producing the valuation certificate. | |
Finding a jewellery valuerIn Australia, individuals are not required to be members of a professional body to provide jewellery valuation services. As such, consumers are encouraged to ensure that any valuer they engage is suitably qualified and experienced to meet their specific valuation requirements. To search for JAA members who provide jewellery valuation services, please click here. |
The National Council of Jewellery Valuers (NCJV) is an independent body that was established in 1984 to promote and maintain high professional standard for jewellery and fine arts valuation in Australia. Valuers registered with the NCJV are required to undergo training and ongoing professional development in gemmology, diamond grading and valuing to be a member.
You can read more about NCJV valuers and search for one near you at ncjv.com.au.
INSURANCE
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