Valuation Service

This is the most common valuation type in the UK, and is based on the likely replacement value of an item (including VAT) to the client, replacing the item with one of reasonably equivalent quality.
This can be split into a number of sub-headings, depending on the type of item:

This type of value reflects the current new retail replacement value of an article, including VAT, of an item of similar quality on the UK High Street. It does not allow for creating a facsimile of the original.

This type of valuation is typical for vintage products, or those that can be attributed to a particular era in the last 100 years. It will enable the client to replace their item with one of equivalent quality and in similar condition.

This type of valuation is used for a piece of Antique Jewellery (usually over 100 years of age), which will enable the client to replace their item with one of equivalent quality and in similar condition.

This value reflects the likely current replacement price of recreating a handmade facsimile of the original, ensuring the same materials and quality craftsmanship are utilised.

This type of valuation is in regard to the goods that form part of the estate of a deceased person. HMRC require Probate Valuations on Jewellery and Watches to ascertain a figure on which Death Duties/Inheritance Tax can be calculated if applicable.

Probate valuations must comply with the Inheritance Tax Act 1984, Section 160, which details:

‘The value at the time of any property shall … be the price which the property might reasonably be expected to fetch if sold in the open market at that time’

It is a common misconception that the probate figure will be what a jeweller will give you as scrap value for the items. Probate ‘values’ are based on ‘Open Market Value’ – meaning what they would sell for at a UK auction. These figures often exceed that of scrap; therefore it is important these figures are researched correctly.

This area covers the division of assets between a party (typically marriage) which is used to help divide items between the co-owners.
Values differ from Insurance Replacement and are based on likely open market values.

This type of valuation reflects the fair price to be achieved in a private sale situation, and is usually relevant when a client is looking to sell an item to a private individual, rather than a Trader or Jeweller.

This is an open market assessment usually requested by your accountant or financial advisor.
Capital Gains Tax is payable on the difference between price paid and what it would realise now.

This type of assessment is not technically a valuation – as no goods are being assessed in the flesh.
Post Loss Assessments are usually requested by an Insurance Company to detail an item that has since been lost or stolen, that does not have an up to date Insurance valuation.
This is an opinion of the likely cost to replace the item in the most suitable market, based on the clients description and provenance. We are happy to provide these assessments providing the client has previous valuations on the items, including images