Jewellery Valuation And Its Benefits
Jewellery is one of the valuable assets which people preserve with much care. It is valuable not just in price but in terms of emotions and sentiments as well. Made up of precious metals and stones, you will find a wide range of jewellery pieces in different designs and styles. Generally jewellery is considered to be an asset, more than an aesthetic piece meant to be worn on special occasions. Of course, people purchase them to wear on special occasions, but that is one of the reasons. The second and the most important reason is that they purchase it because, just like land, house and other precious assets, its value also keeps on increasing over time, benefiting them in so many ways, especially during the time of need. However, it is necessary to understand the fact that the value of the jewellery keeps on fluctuating as per that of the market value. Therefore, it is important to go for the process of jewellery valuation from time to time. If you know the exact value of the jewellery it will help you in so many ways, such as while claiming for its insurance in case it is damaged or in case of a theft or a robbery, during the time of divorce settlement, in case there is an accident, if you are travelling to a foreign land and so on.
In this article we shall be looking at some of the important benefits of evaluating your jewellery. Before going for the evaluation process, make sure that the jewellery valuer you are choosing is expert and experienced in this field. You can either opt for an independent jewellery valuer or you can just approach a trusted company providing you with expert valuers in different fields. Prestige Valuations is one such company in the UK which can provide you with expert valuers for jewellery valuations and the valuation of other important assets. Let us now have a look at some of the important benefits of evaluating your jewellery.
Helps You in Claiming for Insurance
One of the major benefits you get from evaluating your jewellery is that it helps you in claiming for insurance during the time of need. In case, your jewellery gets damaged accidentally, or if it is lost or in case of a robbery or theft, if you have evaluated your jewellery from an expert appraiser, then it becomes easier for you to claim for its insurance. When you take your jewellery to a professional valuer, it makes sure that the jewellery is neither overinsured or underinsured. If your valuation report is updated, then the process of claiming the insurance becomes simple and easier. In this way you can receive the desired compensation or even more than that. Evaluating your jewellery from time to time, helps you in updating the report properly, as the price of the jewellery keeps on fluctuating as per that of the market value. Make sure to for the jewellery repair service in case of damage, before going for the valuation process.
Helps You in Exchanging and Reselling
Evaluating your jewellery from time to time to know its exact value helps you in exchanging or reselling your jewellery pieces. If you know the exact value of your jewellery, then you can easily gain profit, if you are planning to sell it. This keeps the process of buying, selling and exchanging jewellery pieces fair and genuine. In fact, during the process of buying, selling or exchanging the jewellery pieces, you need to present the exact report claiming the value of the jewellery and if you haven’t done the valuation process, then it may put you in trouble, and in the process you may face a huge loss. Also these reports which claim the exact value of the jewellery pieces build trust among the buyers and dealers and make the process of trading smooth and convenient.
Helps in equal division of the assets Last but not the least, evaluation of jewellery helps in equal division of the assets among the family members. If there is an elderly person in your family who is now passing down the responsibilities to the next generation and this he is doing by dividing the assets, then in that case, if the jewellery is evaluated, it makes the process easier. Moreover, the evaluation of jewellery helps in dividing the assets in a legal way by keeping the transparency intact. Equal division of assets is also required in case of a divorce settlement and also when someone in the family dies and their assets, including the jewellery, are to be divided equally among the family members. In short, the evaluation of jewellery can suppress the legal disputes. Many companies are providing experts for valuation of assets, jewellery repair in London and so on.
