Jewellery is one of the important assets that can help you during the time of your crisis. You purchase jewellery not just to look beautiful, but to use it in a proper way when the time demands. Jewellery pieces are expensive. They are designed with precious metals and stones. These elements make these jewellery pieces highly valuable. Therefore, it is necessary to go for the process of jewellery valuation from time to time to know the exact value of your jewellery pieces. You need to keep this in mind that the value and worth of the jewellery keeps on fluctuating. The value of the jewellery is determined as per the current market value and not as per the market value when you had purchased it. In order to evaluate the jewellery, the metals, stones, age, condition and the brand or the designer who has designed it, are some of the factors which are kept in mind. Apart from that whether the jewellery is hallmarked and certified or not are also given importance. Hallmarked and certified jewellery pieces are considered authentic and genuine and this further helps in improving the value of the jewellery. Therefore, always get your jewellery designed from a brand or a designer who provides you with hallmark and certified jewellery.
In this article we shall be looking at some of the benefits related to jewellery valuations. There are a few things, which you need to keep in mind before evaluating your jewellery pieces. Of course, you need to consider the factors mentioned above, however, apart from that you need to choose the right professional for evaluating your jewellery pieces. How do you consider that the valuer to whom you are taking your jewellery for the valuation process is the right one? Well, he should have years of experience, and proper and in-depth knowledge related to valuation services. Even if he does not have much experience, he should at least have the proper knowledge in carrying out the valuation process of important assets, which also include the jewellery pieces as well.
Let us now have a look at some of the benefits which you can get from a professional jewellery valuation.
Insurance Coverage
The major reason why people go for the valuation of the jewellery pieces is to get proper insurance coverage. This helps them during the time of need. Jewellery is a precious asset and is also prone to many natural and manmade disasters. In order to protect yourself from the loss which you may face in case of a disaster, you need to get your jewellery appraised from a professional. If you have done the insurance coverage for your jewellery pieces, you can claim for your jewellery pieces, in case of a theft or a robbery, damage and loss. If you do not appraise your jewellery, you may receive an amount of money lesser than the actual value of the jewellery during the time of the crisis.
For the Purpose of Planning an Estate
If you are the elder most person in your family and you have to equally divide your properties among your family members, you need to go for the valuation process of the important assets, which also include your jewellery pieces as well. Hence, appraising your jewellery pieces for the purpose of estate planning is highly important. When you go for the valuation of your jewellery pieces, you get a clear and accurate record of the worth of your jewellery pieces which further helps you in dividing your assets equally among your beneficiaries and heirs. It will also help you in creating a will and determining the estate taxes. Not only jewellery, other important assets can be valued for this purpose. You can go for services such as, watch valuation and so on for the purpose of planning an estate.
To Get the Proper Resale Value
Another important aspect of the valuation of the jewellery pieces is that you will get an exact and accurate resale value, if you plan to sell your jewellery pieces in the future. If you do not know the exact value of your jewellery which is determined as per the correct market value, you may face a great loss as you may end up selling it at a very lower price than the exact value. If you have a proper idea and knowledge about the value of your jewellery, it will be easy for you to negotiate with your buyer when you decide to sell your piece of jewellery.
Summing Up
These are some of the benefits which you will get if you go for the valuation of your jewellery. Although it may sound unpleasant, when a family member dies, you need to go for the probate jewellery valuation process so that you can have the equal distribution of the assets among other family members. It is a little tough to carry out this process during such a time, but it is highly essential. Apart from this, the evaluation of jewellery also helps you know whether the jewellery is authentic or not.
