We offer a formal Valuation service for your jewellery at Lila’s whether it is for Insurance purposes or for Probate purposes. There is some information below which clarifies the reasons for having either type of valuation undertaken. Any documentation that you have available when submitting pieces for valuation eg. Past valuations/sales receipts, can be helpful in the assessment. The valuation is performed by an accredited registered Valuer and results in a full portfolio which is extensive and involves detailed descriptions and supporting photographs.
It is a good idea to have a conversation with your insurers or solicitors before undertaking any type of assessment to check what kind of documentation they will require or accept.
Valuations for Insurance Purposes
This type of appraisal will show the full retail replacement value, "as new" or "as antique" of your jewellery, taking into account the nature, quality and design of the pieces and the sort of shop likely to be able to provide comparable replacements in the event of loss. It is, therefore, a representation of the highest value of your goods.
Probate/Open Market Valuations
Unlike an insurance valuation which indicates the full retail replacement value, this lower value assessment is based on amounts likely to be achieved at auction or by selling your jewellery to the trade. It is determined by the worth of the materials, prevailing tastes and the condition and state of wear of the items. For a probate valuation the date of deceased is essential to provide.
We also offer an informal In-Store Assessment service at Lila’s in which we will undertake assessment of your item of jewellery and test the stones and materials involved. We can provide our experienced opinion on the value of the piece for Insurance, Open-Market purposes.