Jewellery is always popular and offers wearers a way to express themselves and complements their sense of style. It is also a valuable gift to bestow upon a loved one and communicate your feelings. Additionally, jewellery can also be a great investment. Gems, coloured stones and gold have always been historically hoarded for just this purpose.

 

How To Attribute Value To Your Jewellery

 

Jewellery is not created equal and while some jewellery is worth thousands of pounds other jewellery is worth a few. How do you attribute value to jewellery? Jewellery appraisers use different criteria to determine the value of jewellery. Here are some of them.

 

Hallmark

 

The hallmark (s) of jewellery can be used to establish its value. One hallmark gives information about the metal content of the jewellery and the other (if any) provides information about the country of origin and manufacturer of the jewel. Hallmarks are usually found on the inside of a ring or bracelet and clasp of a necklace. Among the common platinum hallmarks are PLAT, PLATINUM, and 950. Famous gold hallmarks are 18K, 14K, 375, and 750. Silver, Sterling, and 800 are common silver hallmarks. Other jewellery may have hallmarks such as Tiffany & Co, Van Cleef and Arpels, and Cartier.

 

Item weight

 

The weight of jewellery can tell its value especially for items such as chains and bangles. Jewellery made of gold and silver is weightier than fake counterparts like brass. With many fake chains in the market, the weight helps confirm the authenticity of a chain. For example, a solid gold chain is smooth, heavy and consistent throughout. Even if it wears down, the part showing through is the same colour as the rest of the chain. If the part that wears down shows a darker colour or a silver one, it is probably a gold-plated chain that is not very valuable.

 

Factors Affecting the Quality and Value of Jewellery

 

The value and quality of jewellery depend on various factors ranging from condition to craftsmanship and rarity. Below are some more of the factors.

 

Craftsmanship

 

The craftsmanship behind jewellery determines its value and quality. Jewellery with fine craftsmanship is well-made, all the components fit together smoothly, and mechanical parts –hinges, links, and clasps- function appropriately. Its surface is well polished to make the piece visually attractive and appealing. Additionally, jewellery made by high-end and renowned makers may have more value than mass-produced jewellery.

 

Material

 

The material jewellery is made from affects its quality and value significantly. Jewellery made from precious stones and metals have intrinsic value and hence worth more. For instance, a natural, untreated sapphire with fine colour is considered to be of exceptional quality.

 

Rarity

 

The rarity of a piece affects its value more than its quality. It involves how many pieces were produced in a certain design or style in a certain period and how many have survived since then. How many pieces of that jewellery are out there? In many cases, rare jewellery has high value because of its scarcity.

 

Condition

 

Estate jewellery –previously owned or second hand- may not be as valuable as new. Its condition determines its value largely. In most cases, estate jewellery shows signs of wear that affect its beauty or wearability and hence reducing its value and quality. Common condition issues include broken clasps, bent claws, discoloured metal, scratches and chips on the piece, and missing gems. However, most people regard minor age-related blemishes as adding charm and character to a piece.

 

Alterations

 

Alternations are common in second-hand jewellery and affect its value. Most alterations emanate from repair, remodelling, and adaptation. For example, if you would like a pedant turned into a ring, you can have it remodelled. The effect of alteration on the value and quality of jewellery depends significantly on how well it was conducted.

 

Jewellery Repair

 

Jewellery is susceptible to wear and tear. Even the best-made jewellery from the best artisans can break. What happens when you break a piece of jewellery? Do you discard it? No. Many jewellers including Jacobs the jewellers offer jewellery repair services that can restore your jewellery to its original condition.

 

Nevertheless, as mentioned above, alteration including repairs affects the value of jewellery. When a jewellery repair is poorly done or many repairs have been made, the value of the jewellery may be affected negatively, so it’s worth taking the time to be sure you’re working with a good repair workshop and that they’re established and trusted.

 

Jewellery repair should not be a do-it-yourself project because you could end up doing more harm than good. Instead, let professionals like Jacobs the jewellers do it. Below are common jewellery repairs.

 

Ring resize

 

Many people seek jewellery repair to resize a ring when it's too loose or too tight. Common methods for resizing a ring include cutting and soldering or easing a ring up a couple of sizes. In cutting and soldering, a jeweller cuts the ring at the center of the shank bottom and adds or removes metal to adjust its size. One has to be careful with the style of ring to ensure any gemstones’ settings aren’t impacted.

 

Chain repair

 

Chain repairs are common jewellery repair issues. Some chain repairs, especially for flat chains, are undetectable and the chain becomes as good as new.

 

However, other chain repairs especially involving small and lightweight chains get some stiffness after a repair and do not become as strong as before. Some chains are difficult to repair such as link chain and cable chain mean they are often expensive and unable to be warrantied - a good jewellery repair shop will explain this to you, sometimes it’s better to part exchange an old chain for a new pone.

 

Claw repair

 

Wearing your ring over time more often than not causes claws to wear and increase the probability of losing a precious gemstone. Most claw repairs involve claw replacement and re-tipping by adding a metal on the claw either at the top or all the way.

 

Polishing and cleaning

 

Some people want to restore the original condition of their jewellery. They want to get rid of the dullness on their gold, silver or platinum jewellery. In such a case, polishing and cleaning become an ideal solution - in most cases, this is quite an easy project, and of course, general condition can be checked at the same time.

 

Watch repair and batteries

 

Many people visit jewellers to have a watch repair and /or change batteries. Sometimes it can be returned to the original manufacturer or other times to a generic specialist watch repair workshop.

 

Jewellery Insurance

 

Few things in life are worse than losing precious or memorable watches or jewellery, either by accident or by an unfortunate and malicious act such as a burglary. Additionally, accidents do happen - rings, for example, are worn on a very busy part of your body - your hands - and they come into lots of physical contact. Accidental bumps and bashes on your jewellery can cause damage, and it’s good to have peace of mind when wearing and enjoying your jewellery.

 

If you own valuable jewellery, it is considered the best practice to insure them. Jewellery insurance covers the value of the jewellery in the event it is stolen, lost, or damaged. You can insure a wedding/engagement ring, watch, diamond earrings, bracelet, and necklace. Why should you get insurance?

 

  • Protect valuable items such as family heirlooms and engagement rings.
  • Minimises the cost of replacing the jewellery in case of loss or damage.
  • Give you peace of mind and reassurance
  • Gives you the confidence to wear your jewellery
  • Safeguards jewellery's real value

 

When you decide to insure your jewellery, quite often the first step is to get an appraisal/valuation - your own policy will guide you. A jewellery valuation is conducted by a qualified appraiser who offers a written statement describing the distinctive traits of your jewellery and value of the piece on a specific date. It guarantees that in case of loss or damage, your jewellery is replaced most accurately. Also, valuation helps you take the right level of cover for your item or collection. An accurate and current valuation ensures that jewellery is insured for its full value.  

 

Dos and Don'ts for Jewellery Valuation and Insurance

 

Dos

  • Valuation: Make sure you get an expert valuation on your jewellery to determine its value.
  • Insist on detail: whoever is undertaking the valuation should provide a detailed report of your jewellery ranging from weight to hallmarks and types of precious gems. A detailed description can be helpful in case the item is stolen and the police retrieve it, along with photos.
  • Requirements: Ensure you have all requirements when applying for insurance- the original receipt (for recent purchases), an appraisal from a certified appraisal, and photos of your pieces.
  • Get valuations done regularly
  • Check your policy for specific requirements as to what your obligations are

 

Don'ts

  • Don't keep your jewellery and valuation documents in the same location. This is mainly because, in case of theft, you will be helping the thief to sell the jewellery easily. It is best practice to have a safe for storing important documents and valuable jewellery.
  • Don't forget to read and understand the policy document to make the claim process easier.
  • Don't assume that your household policy will cover your jewellery. It is wise to inquire if it does.
  • Don't get your jewellery valued abroad because, during replacement, local prices and rates will be used.

 

How Do You Choose the Right Valuation Expert?

 

Just because someone works in the jewellery industry does not make them an appraiser or valuer. Valuation is a profession and requires expertise and experience. Here are a few tips to choose the right valuation expert for your jewellery.

  • Qualification and experience: choose a valuation expert who has the required expertise and experience to conduct appraisals. Ask him for credentials that prove he is qualified to conduct jewellery appraisals.
  • Membership to a professional guild or union: Before acquiring membership to a professional body, a member is vetted, and their skills and knowledge are assessed. Therefore, membership to such a union dictates quality services.
  • Adherence to ethical standards and legal obligations: valuers should comply with the expected professional behaviour and have a good reputation in the industry.
  • Persona: a good valuer should be trustworthy, reliable, available, and honest. He should also be thorough and offer good service.

 

Questions To Ask Before Getting Insurance

 

After the valuation, it is important to ask your agent various questions to understand the insurance policy and what it covers. Below are some fundamental questions to ask:

  • What cases are covered in the policy? Some insurance policies cover theft only while others cover accidental loss and theft. Make sure you understand the circumstances that are covered and those that are not.
  • Does the policy cover repair or partial loss? What if you broke your watch and need it repaired, will be policy cover the repair charges? What if you lost part of your ring –may be the center diamond only? What happens?
  • What can you do to lower your premiums? Some agents may recommend you store your jewellery in a safe or bank safe deposit box.
  • How will be the jewellery be replaced? The agent should explain to you how your jewellery will be replaced in case the worst happens. Will be insurance company compensate you for the value of the item at the time of purchase, valuation, or current value?
  • What do you need to make a claim? Do you need a police report or a picture?

 

About the Jacobs the Jewellers

 

Jacobs is a nationally recognized and award-winning jewellery and watch shop that offers jewellery services like valuation and repairs. They conduct jewellery repairs efficiently and quickly with same day service when you book early. The typical working time for most repairs is 10-14 days with constant updates on phone, email, and text.

 

If you have old and unworn jewellery, we can work them into something new and unique. Jacob the Jewellers also conduct onsite and offsite valuation carried out by expert valuers with extensive experience. Visit Jacobs the Jewellers for jewellery valuation services.