Chickendoodle Posted April 4, 2011 Share Posted April 4, 2011 I have never thought I had any jewellery that was worth anything much. I have wedding/engagement/eternity rings etc but none of them were very expensive. I have the original receipts but a lot of them are from more than 20 years ago so they would prove ownership but not replacement cost. Thought it would be interesting to see what the replacement costs were now (I work in insurance and know how much trouble people have when they claim). This was prompted by losing a gold bracelet, finding it again, and the repairer telling me how much the replacement cost would be (only bought 5 years ago and would now cost almost twice as much)and I realised that I would have had no idea of it's replacement value and I would have been happy with getting the original cost from the insurance company - it would have been impossible to find an exact replacement and as the receipts don't show gold weight or anything there would be no other way of calculating the value) Well, I was absolutely staggared. I know the price of gold has rocketed in recent times but I never thought that a gold necklace and bracelet bought in the USA about 12 years ago are now worth more than 5 times what I paid for them! Engagement and eternity rings are about 2 and 1/2 times more and an opal ring I got only 6 years ago has almost quadrupled (apparently there is an opal shortage) The jeweller was more than happy to give me a verbal valuation on each item for nothing, which he did, but I thought it was worth paying the 1% fee to get a proper written valuation so that I have a new baseline to work from. I am also going to photograph the items in case I ever have to claim for one of them (hopefully never as they all have sentimental value) Get your stuff valued as you will have no idea what you may have! Quote Link to comment Share on other sites More sharing options...
beach chick Posted April 4, 2011 Share Posted April 4, 2011 good advice chickendoodle. ever since a burglary years ago, I have photographed jewellery etc (not that I've got much!), but not thought to update the valuation... if you are taking pics of jewellery/other small valuable items, its a good idea to include a ruler in the photo as an indication of size! Quote Link to comment Share on other sites More sharing options...
The Dogmother Posted April 4, 2011 Share Posted April 4, 2011 I agree with beachchick too; I have some lovely inherited pieces and others from a (long past) rich boyfriend. I have been advised to get them valued and photograph them. Quote Link to comment Share on other sites More sharing options...
kerryegg Posted April 4, 2011 Share Posted April 4, 2011 Well worth doing but if you try to sell your jewellry as I did recently,the value offered by the trade is about one quarter of the insurance valuations. We did shop around and went to local respected jewellers. Auctions were an option but the commission can be very high. Quote Link to comment Share on other sites More sharing options...
Chickendoodle Posted April 4, 2011 Author Share Posted April 4, 2011 Yes the valuation gives you a replacement cost which is not the same as what you would get if you sold it. Quote Link to comment Share on other sites More sharing options...
Redwing Posted April 4, 2011 Share Posted April 4, 2011 Be careful what you do with the photographs, valuations and receipts though! My home was burgled a few years back while I was on holiday, I had a lot of disposible income in those days and many valuable peices of jewellery and art as well as handbags and electronics etc.. the theives were well organised and went to the filing cabinet, found the photos and receipts and used that as a shopping list to seek out the items around the house Some photos were taken away and others were left on the tops of cabinets, chests of drawers etc.. so they could refer to them while they rifled for the valuables Everything on photos and receipts was taken, less valuable items were left behind Quote Link to comment Share on other sites More sharing options...
Egluntyne Posted April 4, 2011 Share Posted April 4, 2011 Good advice. I recently lost the diamond out of my engagement ring. I was flabbergasted at the cost of a replacement. Fortunately the insurers coughed up. Useful to have photos of any decent jewellery, both close ups and with you wearing the item too, in case you are burgled. Stops the insurers trying to duck out of paying. Quote Link to comment Share on other sites More sharing options...
beach chick Posted April 4, 2011 Share Posted April 4, 2011 Redwing, that's awful, I'd never thought of that. because our house is below sea level, and we are very close to the sea, we have a 'flood box' on the top floor - wind up torch, radio etc, copies of household insurance policies. I think I will add my jewellery receipts/info etc to it. Quote Link to comment Share on other sites More sharing options...
Cheeky Chicken Posted April 6, 2011 Share Posted April 6, 2011 I took some old broken pieces to the jewelers when I was having charms attached to my charm bracelet. It was cheap chains and bracelets that came with pendants from Argos. I just about fainted when I was told that the s"Ooops, word censored!" was worth £250 I had 22 charms to be attached to my bracelet and the jeweler advised me that whilst they were all individual pieces my insurers would have no problems replacing them, now they were attached they were counted as an one item. My 9ct gold charm bracelet that was bought 11 years ago for less than £100 plus 22 small 9ct gold charms ranging in price from about £10-£30 has now been valued at a staggering £750. The value of gold at the moment is at an all time high at over £10 per gram for 9ct It is well worth having a jewelers value it, some even offer to keep the valuations on file for you just incase anything happens to your copy. It's also worth checking with your insurer as to what your individual item value is on things like jewelery as mine was set to £500 so my bracelet had to be valued and a copy of the valuation report sent to them. Quote Link to comment Share on other sites More sharing options...
beach chick Posted April 6, 2011 Share Posted April 6, 2011 just makes you think doesnt it. for example the filing cabinets thing - if you are organised, OF COURSE you have a folder in there called 'insurance' ! and if you have a lovely charm bracelet, and people give you nice charms you add them on... - what else would you do with them?! sometimes I think insurers look at human behaviour and try to find the easiest way they can to subvert it!! (apologies to anyone out there who works in insurance). Quote Link to comment Share on other sites More sharing options...
Cheeky Chicken Posted April 6, 2011 Share Posted April 6, 2011 sometimes I think insurers look at human behaviour and try to find the easiest way they can to subvert it!! (apologies to anyone out there who works in insurance). I used to work in insurance and believe me no apology needed. The worst one I had to deal with was; a taxi driver was helping an elderly lady to the door with her shopping. In the corridor of the flat entrance a young male brushed past him, picked the car keys out his pocket and stole the car. The insurance company refused to pay out because the theif had the car keys and there was no way for the driver to prove the keys were stolen. Some insurers will try to find any loop hole so as not to pay out. Quote Link to comment Share on other sites More sharing options...
coco Posted April 7, 2011 Share Posted April 7, 2011 Good advice. The only item of jewellry I had valued is my mothers engagement ring as it is 40 years old and irreplaceable. It also has a lot of sentimental value as she died when I was 18, I don''t think any amount of money would make up for its loss. Quote Link to comment Share on other sites More sharing options...
