Valuation and Assessment
Valuing jewellery accurately is a highly skilled profession that involves years of training and experience. By selecting an NCJV valuer you can be confident the appraisal will meet the highest standards.
Valuation and certification
A typical valuation involves scientific analysis of each item in a piece of jewellery to assess the quality and arrive at a value based on current market conditions. While two items may appear identical to the untrained eye, each has qualities that can affect the valuation.
Different markets vary enormously, and this is taken into account by NCJV valuers who are required to keep up to date with trends and fluctuations under the terms of their NCJV membership.
Certification you can trust
After an appraisal, you will receive a valuation certificate that contains a full description and statement explaining the reason for the valuation and the intended market.
Your valuation will be embossed with the NCJV seal which prominently displays that the valuer is a member in the current year. For insurance companies and industry organisations, this is an important stamp of credibility.
Market variations
Consumers should only accept valuation certificates that clearly state the purpose of the document.
This includes the type of market on which the assessment is based and the reason for the valuation, such as insurance, deceased estate, auction, private sale or divorce settlement. The different markets and reasons for a valuation have an impact on the value.
They include:
Retail
A detailed assessment that estimates the likely replacement price if bought in a shop. This type of valuation is often used by insurance companies.
Auction reserve
The minimum hammer price achievable in an ideal auction market, where time is not a factor. This figure does not include premiums or commissions that can vary at each auction.
Non-forced sale
An estimate of a reasonable second-hand price between a willing buyer and seller in a fair or specialised market without time constraints.
Forced sale
The price that can be expected when an article must be sold within a short time frame in potentially non-ideal market conditions.
Second-hand
A value for used items that takes into account the condition, desirability and collectability of the item.
Private sale
A fair and reasonable second-hand price when someone wants to sell an item to a member of the public. In such cases, the valuer acts as an unbiased expert and GST, sales tax or duty is not included in the valuation.
Divorce property settlement
The Family Court may require a valuation of jewellery in a divorce settlement. Written directions are provided by the solicitors with the valuation usually based on “fair market value”, although this may vary.
Deceased estate
Written directions are provided by the lawyer or executor of the will, with the valuation reflecting the current market value or requirements of the will.
Quality assessment
A quality assessment report is prepared for people who require an accurate appraisal of jewellery without a value statement.
Such reports contain detailed technical information, with the assessments conducted in the same way as a full valuation.
They are useful for people wanting to:
- prove ownership of an item that has been recovered after being stolen or lost
- have their jewellery fully assessed but not for insurance purposes
- differentiate between two pieces of jewellery that look identical
- verify the authenticity of items
- assist police with a description in the event of loss or theft
- assess jewellery that has been damaged.
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