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Please enjoy this short article on Understanding Jewellery Valuations by Debra Stanislawski at Quastel Associates;
What makes a jewellery valuation different from fine art and antiques valuations?
The answer is that there is a significant level of difference. Historically, the same person managed jewellery valuations and fine art and antiques valuations. This is no longer the case. Jewellery valuers go through extensive training to assess competence, effectively vetting them in advance of any valuation.
Jewellery may go missing from the home. Stones, clasps, and settings can be intricate. Quastel’s specialist expert jewellery valuers conduct jewellery valuations and are members of the Institute of Registered Valuers (IRV), regulated by the National Association of Jewellers (NAJ) or by the Jewellery Valuers Association (JVA). Their training, skills and professionalism match the expectations and needs of clients.
What do the abbreviations after our valuers’ names mean?
FJVA Fellow of the Jewellery Valuers Association
FGA Fellow of the Gemmological Association
DGA Diamond Diploma of the Gemmological Association
FIRV Fellow of the Institute of Registered Valuers
FNAJ Fellow of the National Association of Jewellers
These qualifications require studying and passing both theoretical and practical examinations.
Once valuers attain these qualifications, NAJ valuers must meet certain requirements to keep certification with the regulator. Valuers who work with Quastel Associates are the best in their field and have much experience. All IRV Members and Fellows must commit to the Code of Practice for IRVs and ongoing continual professional development as well as undertake a professional review every five years. JVA members and fellows are also regulated by their independent regulatory body. Their specialist knowledge requires that they remain up to date with current industry trends and any changes to the watch market, synthetic jewels, and hallmarking law.
Our jewellery valuers are known for their ability to assess thoroughly and in detail the elements required by the regulators.
This includes assessing each stone for colour, clarity and cut. It also requires looking at each setting and clasp. Where a specific gold/silversmith engaged in the process, it may require researching signatures and cross referencing with vintage jewellery pieces to verify whether jewellery is an original.
It also requires looking at clasps, to check for functionality as well as authenticity.
This process of gathering all the requisite details protects not only the valuer but also the person having items valued. It is therefore incredibly important for these items to be viewed in person. As anyone who has done online shopping might agree, it is unusual for the photographs online which are two-dimensional to be identical to the final three-dimensional product received. This is why Quastel Associates insists upon having in person jewellery valuations.
The basis for any jewellery valuation will always be stated on the front of the report. Valuation is based on the most appropriate markets for replacing each individual piece, and these markets will vary according to the age, design, and workmanship of the jewellery amongst other factors.
The values represent the valuer's professional opinion of the approximate replacement value within these stated markets. Also, as diamonds and precious metals are generally traded in dollars, the rates used for gold and the dollar price is always stated on the front of the report.
Furthermore, over the last few years, the value of both gold jewellery and coloured stones has increased significantly. This means ensuring that items have the correct values is even more significant. Our specialist jewellery valuer, Clare Blatherwick notes, “I regularly see clients who have not updated their valuation for lengthy periods, and they are surprised to see the uplift in respect of a replacement figure for those pieces (not to mention shocked when they realise how underinsured they have been). This is particularly evident in clients whose collections include pieces set with coloured gems. Many people are unaware of the significant growth that market has seen over the last few years.”
Should you require a jewellery valuation, please contact Quastel Associates on 0207 253 1710 or by clicking here.
