How Much is My Jewellery Worth

Do you ever get asked to give an opinion on the value of someone's Jewellery? How important is it to know the value of your engagement ring? Is it just the memories attached to it, or have you ever wondered what makes a Rolex so pricey?

If you need a jewellery appraisal for estate or inheritance purposes, or if you want to sell your Jewellery, this guide will help. Finding the value of your Jewellery, such as an engagement ring, can be difficult, although it is easier for more recent pieces. 

The price of expensive materials like gold and diamonds, the item's rarity or uniqueness, and why you want it appraised can all affect its value. Throughout this article, you will learn the following:

  1. What is the current market value of my jewellery collection?
  2. What does jewellery valuation mean?
  3. What does a jewellery valuation report contain?
  4. Why do I need a jewellery appraisal?
  5. How is jewellery valuation estimated?
  6. Consequences of not having my Jewellery appraised
  7. How frequently should I have my Jewellery appraised?
  8. How long does it usually take to determine the worth of a piece of Jewellery?
  9. What kind of questions might I expect from a jeweller's appraiser?
  10. How well do you know how to appraise fine Jewellery?
  11. Do jewellers typically charge for appraisals?
  12. Do I have the right to dispute an appraisal?
  13. Who is qualified to judge the worth of Jewellery?

What is the Current Market Value of my Jewellery Collection?

You will need to know the actual value of your Jewellery to insure it, sell it, or if you are unfortunate enough to need a value for inheritance after the passing of a loved one. Consequently, a jewellery appraisal will be necessary.

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What does Jewellery Valuation Mean?

A jewellery appraisal is the culmination of a series of steps taken by an experienced appraiser, and it is not merely a piece of paper with a description and a price on it.

A written jewellery appraisal will include a thorough description of the piece and proof of its authenticity. It verifies the Jewellery's existence and provides a well-reasoned assessment of its appropriate "worth" for a specific application.

Numerous situations call for a jewellery appraisal, such as selling an item, getting it insured, or disclosing its value to the tax department.

A qualified jewellery appraiser will have formal education, extensive industry experience, and a commitment to lifelong learning. A professional jeweller appraiser will evaluate your Jewellery, consider its purpose, function, intended use, and the current market to arrive at an accurate dollar value.

Jewellery Valuation


Your valuer will investigate, make careful notes, and analyse so that the numbers they come up with are credible and accepted by insurance companies, law enforcement, and tax officials. It will give you faith in the quality of the service you are receiving.

Discover your Jewellery's Actual Worth

Your valuer will conduct extensive research with detailed notes and analysis to guarantee the numbers they arrive at are justified and accountable and will be less likely to be questioned in case of a claim.

What does a Jewellery Valuation Report Contain?

A report will be bound to contain your assessment. In the event of a claim, the report will make it easy to pinpoint specific components and have them promptly replaced.

This report includes the following:

  • Detailed and precise descriptions taken individually
  • Jewellery composition and quality photos and reviews
  • An accurate description of the evaluation's context.
  • Cautions and restrictions to keep in mind
  • Interpreting the schedule notes, often known as the valuation.

The valuer must keep all files and notes gathered during the valuation process for at least six years after finalising the appraisal. It ensures that the valuation approach will have solid justification foundations long after implementation.

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Do You Know?

To verify future claims, the valuer must maintain all research and notes for at least six years after completing the task.

Why do I need a Jewellery Appraisal?

The most typical situations in which you might want to have your Jewellery appraised are:

  • Regarding Divorce, Property Division, or Insurance Purposes
  • As a means of facilitating the sale of Jewellery

The Appraisal of Jewellery for Insurance

Having your Jewellery appraised is crucial for insurance considerations. If you suffer a loss, a professional appraisal will streamline the claim procedure and increase the likelihood of a comparable replacement.

With the help of a well-written, thoroughly researched, and convincingly justified Valuation report (like those created by Peter Michaelson Jewellery), you can confidently present an insurer with a complete inventory and precise descriptions of your possessions.

As a result, you won't have to rely on your recollection or the judgement of a loss adjuster unfamiliar with you and your Jewellery in the case of theft or other loss.

You want to ensure you have enough insurance to replace your Jewellery if you lose it, but you don't want to pay too much or risk losing too much.

If you have insurance, you could be paying too much.

Jewellery Valuation


A fresh appraisal could help you save money on your jewellery insurance if previous estimates have placed its value too high. It is why it is crucial to have your Jewellery appraised regularly.

Jewellery Valuation for Probate Purposes

After a loved one dies, you may need a Probate assessment to calculate Death Duties or Inheritance Tax. Therefore, getting the estate's value right is essential.

Jewellery Valuation for Divorce or Property Division

With a family division valuation, the actual value of your assets can be determined in the case of a divorce, allowing for a more equitable distribution of property. When allocating different types of value, this is of utmost importance.

An Appraisal of Jewellery for Sale

You may rest easy knowing you got the most possible for your Jewellery by having it appraised before you sell it. Having an objective third party evaluate your jewellery might give you peace of mind that the price you're asking is reasonable. When you hire a valuer, you may also ask for their opinion on where to sell your stuff.

How does one Estimate the Value of Jewellery?

The valuation might be considered the total of the item's components or a figure derived from an extensive study of the item's place in the market. However, allowances for faults and wear and tear may or may not be factored in, depending on the specifics of the valuation.

A Registered Valuer is required to record a minimum of twelve essential points of information for every item to guarantee uniformity and precision.

There must be a thorough examination, analysis, identification, measurement, weight, photography, and eventually valuing of every facet of the item in question.

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It doesn't matter if you're trying to determine the value of something cheap, something with sentimental significance to the owner, or anything extraordinarily uncommon and exceptional; you still need to do thorough market research to get the correct number.

Consequences of not having my Jewellery Appraised

The risk of not getting a good payout is greater than the risk that the products would not be appropriately insured. So, you may have to spend more money to get a replacement of your Jewellery, watch, or silverware of equal size and quality.

Perhaps your lost items aren't even covered by your insurance.

However, a professional valuation gives all the information and confidence an insurance company needs to insure appropriately and satisfy a claim when a loss has occurred. There is no genuine appropriate alternative to this.

If My Jewellery Isn't Adequately Insured, What Happens?

Claims payouts may negatively impact your Jewellery if it is underinsured. This is because insurance companies deceive customers into thinking they only need to increase their coverage by inflation to cover their Jewellery, watches, and cutlery.

While some insurance providers may operate this way, it is not the norm. As a result, we run into many cases where your level of protection is inadequate.

In addition, the rate of increase in the costs of foreign exchange, precious metals, and gemstones typically exceed that of inflation, increasing the coverage gap and the risk that you are underinsured.

If I Misplace my Jewellery, What will Happen?

Don't freak out. You can get a Post Loss Assessment from an IRV Member or Fellow who is both highly trained and experienced in the field of valuation. When you lose something you wear every day, it can be hard to describe it from memory, especially if the quality is an important feature.

Even if a homeowner's insurance policy covers it, you may have problems persuading the Loss Adjuster of its existence and worth.

Jewellery Valuation


How Frequently Should I have my Jewellery Appraised?

In an era of rising commodity prices and fluctuating exchange rates, get your Jewellery evaluated every three to five years.

It is essential to review your policy to know how often you should have your Jewellery revalued and tested for settings and conditions. In most cases, jewellery insurance will consider a till receipt as sufficient proof of purchase for newly purchased Jewellery.

However, in the case of unusual circumstances, the insurance company may need a valuation by a certified third party. Conditions of this type typically include:

  • Offers unique to the customer
  • Buying at a Discount
  • Carefully negotiated price cuts
  • A holiday shopper's haul

However, having your Jewellery appraised by a professional as soon as possible after purchase is a good idea.

How long does it usually take to Determine the Worth of a Piece of Jewellery?

Valuing and evaluating a piece of Jewellery is a laborious process. However, every appraiser is independent and will complete their task at their own pace, as agreed upon with you.

While others may take more time and ask you to leave the things with them while they conduct the research, some offer same-day while-you-wait service. It would help if you always inquired about the expected duration of the valuation procedure before scheduling an appointment to bring in a piece of Jewellery for evaluation.

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What kind of Questions Might I expect from a Jeweller's Appraiser?

After establishing the object's purpose and intended use, the appraiser can ask crucial questions. A variety of pertinent documents will be included, such as previous appraisals, gem and diamond reports and certifications, cash register records, and more.

When doing a valuation, a good valuer will ask for your input on how they should evaluate the item in question to provide you with an accurate and thorough report.

Your valuer will be happy to explain the differences and help you decide which valuation method is correct for you. Jewellery has a habit of surprising even the most seasoned appraisers, so the valuation process can go on for longer than intended.

Do You Know?

The Valuation Report's appendix to the schedule will include the twelfth item that must be appraised and catalogued according to the report's guidelines for Jewellery, timepieces, and silverware.

How well do you know How to Appraise Fine Jewellery?

Provenance-specific jewellery, watches, and silverware; antiques; things of distinctive design or construction; goods with unique specifications; and pieces by highly sought-after designers and craftspeople may all necessitate more in-depth expertise.

Do Jewellers Typically Charge for Appraisals?

In a word, yes. To make a living, jewellers and registered valuers who provide a competent valuation service always need to charge for their time, knowledge, usage of equipment, and supply use. Fees may change based on the nature and scope of the work required, the valuer's level of experience, and the reason for the valuation.

Suppose you want to find the most qualified and experienced jewellery valuer for your Jewellery while also ensuring that they adhere to industry standards. In that case, we advise getting in touch with at least three different valuers to get a sense of costs and what you're getting as part of the valuation service offered.

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Pricing reflects the appraiser's time and work spent analysing and examining the Jewellery. Other costs associated with running a business, such as transport, storage, and paperwork, will be considered.

Do You Know?

Current requirements for becoming a registered valuer with the National Association of Jewelers include five years of experience in the jewellery trade, a globally recognised gemological qualification, an accredited Diamond grading qualification, and completion of the NAJ's Foundations of Appraisal Practice programme.

Do I have the Right to Dispute an Appraisal?

You should contact your appraiser if you have questions or reservations about an appraisal, as you may quickly clarify simple explanations or misunderstandings over the phone. Typical problems usually have answers at this stage.

If not, you may always reach out to the National Association of Jewelers for help. All jewellers and licenced valuers included in our Find a Valuer and Find Jeweller directories are eligible for our no-cost mediation services.

Who is Qualified to Judge the Worth of Jewellery?

In theory, anyone can voice their opinion on what something is worth. Getting a rough estimate of the worth of your Jewellery, watch, or silverware is as simple as visiting any storefront jeweller.

However, you can rest assured that any opinions from members or fellows of the Institute of Registered Valuers (IRV) have passed the industry standard for insurance and legal scrutiny.

Your jeweller's appraiser needs to know the difference between natural and artificial stones. They must be well-versed in all the precious metals used in jewellery production and be able to recognise them, be familiar with the many processes involved in manufacturing Jewellery, and be able to tell the difference between them.

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Understanding the evolution of jewellery design over time is also crucial for dating a piece. Moreover, the NAJ website's Find a valuer function makes it easy to find a certified appraiser in your area with the above criteria.

We strongly suggest using Peter Michaelson as a valuer. He is regarded as the finest valuer in Australia.