Is a jewellry insurance valuation higher than a sale valuation?

Question

I have diamond rings that I wish to sell. They have insurance valuation documents dated within the last 12 months. How do I price them accurately? Some are 25 years old!!

Answer 1

The insurance valuation is based on what it would cost to actually replace the jewellery... It cannot take into account the age of the jewellery...

Answer 2

My insurance has valued my diamond higher than the price I paid. I believe the higher the value the higher the insurance fee.

Insurance papers are irrelative when selling your jewellery.

You need a diamond certification from a qualified gemologist or diamond laboratory. They will have you take the diamond out of the setting for a thorough assessment. This is only for grading, not pricing.

You can then ask a jeweller or wholesaler to give you a verbal price guide and estimation according to the diamond's certification.

I have made these enquiries too.

Answer 3

I think the insurance value is usually based on the ..replacement value (how much would it cost today?)...jewellery is a bit difficult to guess though..it depends on the gold price, popularity of the type of article (is it a collectible..watch or ?)..is it regarded as antique...and basically....the jeweller you see!!

I would suggest speaking to a few jewellers in different towns..(someone may be looking for exactly what you have to sell)..to get a good idea.

Answer 4

very intereting question.Suggest you have a look here for useful tips.

http://insurance.online-assistant.info

Answer 5

hi,if you wish to sell, the best way is to take to a reputable auctioneers.anyone who gives you a price for insurance usually will charge you a percentage of the value, so they will always over-value the item,

for instance christies auctioneers in london give a honest over the counter valuation ,as the more money they can get you then the more they will make in comission.

even if you do not decide to sell at auction then at least you will get an idea of how much to ask privately.

Answer 6

Yes it is...because it costs more to buy something than sell it...(because of the profit margin) Best bet is to take them to various reputable jewellery shops and see what they will give you