Jewellery Valuation Service
by Jules Collins - Certified Valuer,
National Council of Jewellery Valuers (NCJV)
At Jules Collins Jewellery, I provide a comprehensive suite of valuation services.
I am the only registered valuer in Cairns and I am accredited by the National Council of Jewellery Valuers (NCJV) of NSW, valuer number 436 and also by the Gemmological Association of Australia (GAA). I conduct all valuations in-house at my Jewellery shop on Lake Street in Cairns.
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. The NCJV is the only professional jewellery organisation in Australia where members achieve an approved educational standard. 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. This makes sure they are up to date on jewellery trends, gemstone treatments and identifying sophisticated fakes.
Valuers who are registered with the NCJV are highly skilled professionals with years of ongoing training and experience. By selecting an NCJV valuer you can be confident the appraisal will meet the highest standards.
My charges for insurance valuations are between $55 (gold wedding rings - with no gemstones and gold chains - with no gemstones) and $135 per item for most jewellery pieces with gemstones. Complicated jewellery items with a large number of gemstones may incur a higher cost.
Jewellery Evaluation
The value of precious metals, diamonds and gemstones can fluctuate due to global events, currency movements and supply and demand, and are not usually linked to any economic price index.
THE PROCESS:
- Drop off your jewellery where we note all the pieces we receive (any stones missing and damage), gold carats etc
- I assess and test the gold and (noting any hallmarks) and test the gemstones: grading them for their colour, clarity, cut and shape. Diamonds are graded against a GIA (Gemmological Institute of America, which is recognized as the original and unrivalled source for accuracy and integrity in diamond grading) master set of comparison stones.
- I put all this information together to work out the value of each piece to fulfil the purpose of the valuation.
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.
While we strive to complete valuations as quickly as possible, the turnaround time depends on my current workload. Items need to be booked in with us for valuation. If you have more than 7 or 8 pieces and would like me to value them, please ahead of booking an appointment to ensure we have adequate time to book in and detail your items. For fewer pieces, no appointment is necessary. Please bring any relevant paperwork, such as original receipts showing provenance or Diamond Certificates, so the certificate number can be noted on the valuation against the relevant item.
Valuation Purposes
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.
