How to Value Your Jewellery Before Selling

Have you ever uncovered a forgotten necklace in your jewellery box or inherited a ring from a relative, only to wonder how much it's actually worth? Jewellery often carries significant sentimental value, yet emotional worth doesn't always match market value when it comes time to sell. Without a proper valuation, you're essentially guessing, which could leave you out of pocket.

Getting your jewellery professionally valued is essential to ensure you're listing it for a fair price when you decide to sell. Beyond knowing your item's worth, accurate valuations may be crucial when arranging jewellery insurance.

Together, we'll cover how jewellery valuation works, why it matters, and the practical steps you can take to value your jewellery before it changes hands. Let's get started.

What is Jewellery Valuation, and Why is it Important?

A jewellery valuation is an expert evaluation conducted by a qualified valuer to determine the precise monetary value of your jewellery. This professional assessment considers factors such as gemstone quality, metal purity, craftsmanship, and current market conditions.

Understanding your jewellery's true market value ensures you receive a fair price when selling, rather than relying on guesswork or sentimental estimates. It's the critical first step to accurately pricing your items, especially if they've been passed down or haven't been professionally valued for years.

Beyond knowing your jewellery's worth, valuations play a significant role when arranging jewellery insurance. Many insurance providers offering specialised jewellery insurance in Australia require recent valuations to accurately set premiums and coverage amounts.

With the fundamentals covered, let's explore how jewellery valuation works and what a valuer evaluates.

Steps to Value Your Jewellery Correctly

Knowing what your jewellery is worth starts with preparation. Here's a clear roadmap to getting your jewellery valued accurately and efficiently.

Gather Documentation

Before booking a valuation, start by collecting all relevant paperwork—original purchase receipts, diamond certificates, previous valuation or appraisal documents, and any other records detailing your item's history.

Provenance is especially important if your jewellery is antique or vintage, as this documentation can significantly influence its market value.

Taking clear, high-resolution photos and writing detailed descriptions of each piece is also beneficial. These documents may be invaluable during valuation and if you ever need to lodge an insurance claim.

Tip: Keep your documentation organised digitally and physically, making updates easy when new valuations are needed.

Select a Reputable Valuer

Valuer qualifications and experience vary. Look for professionals with proven credentials, such as Accredited Jewellery Valuers such as NCJV or those certified by the Gemological Institute of America (GIA). Choosing an independent valuer ensures unbiased evaluations, free from conflicts of interest, like those who value jewellery while simultaneously selling it.

In Australia, an excellent starting point for finding accredited valuers is through the Australian Association of Jewellery Valuers. This resource can help you find a trustworthy valuer close to home, streamlining the valuation process.

Insider tip: Basic valuations can cost around $80–$100 per item in major Australian cities, but fees vary by valuer, complexity and location.

Understand Different Types of Valuations

Not every valuation serves the same purpose. Understanding the differences can ensure you get exactly what you need from the valuation process:

• Insurance Valuation: Determines the cost to replace your jewellery at full retail value. Typically used for jewellery insurance coverage.

• Resale Valuation: A realistic assessment of what your jewellery would likely fetch on the secondary market.

• Estate Valuation: Used for inheritance or probate purposes, establishing a fair market value rather than retail replacement cost.

Knowing which valuation type suits your needs is critical, especially when arranging accurate coverage with jewellery insurance. The right valuation ensures you're neither underinsured nor overpaying for premiums.

Types of jewellery valuations:

• Insurance Valuation

• Resale Valuation

• Estate Valuation
  

With your documents organised and the right valuer selected, you're now well-prepared to understand the valuation process. Let's move on to what valuers look for during their evaluation.

What Does a Valuation Usually Include?

A jewellery valuation goes beyond assigning a simple monetary value. It's a detailed record that captures the unique characteristics of your jewellery, from its precise measurements down to gemstone grades, ensuring you have a complete understanding of its true worth.

Detailed Descriptions of Materials

Your valuation will meticulously document each piece, including the type and purity of precious metals (gold, silver, platinum) and detailed descriptions of gemstones or diamonds. Expect precise measurements such as dimensions, weight in grams, and even band thickness to provide clarity and accuracy.

Gemstone Grading Reports

Gemstones significantly influence the value of your jewellery, and accurate grading is essential. The valuation should clearly outline the four Cs of gemstones: colour, clarity, cut, and carat weight, as these factors directly affect their desirability and market price. For diamonds, expect detailed evaluations aligned with reputable standards such as those set by the Gemological Institute of America (GIA).

Current Market Valuation and Replacement Costs

Finally, a critical aspect of any jewellery valuation is determining its current market value and the replacement cost, should it ever need to be repaired or replaced under an insurance claim. Your valuation will specify these costs clearly, reflecting the most up-to-date market data.

Accurate replacement cost documentation ensures you're adequately covered if you choose jewellery insurance, not underinsured or unnecessarily paying premiums.

Now that you know what a thorough valuation includes, let's explore how frequently you should revisit and update these valuations.

Factors That Affect Jewellery Value

Valuing jewellery involves more than examining diamonds under a microscope. Several external and internal factors shape its market value, influencing what your piece might fetch on resale or how it's assessed for insurance. Understanding these factors helps you get the most from your valuation and informs you about your jewellery's true worth.

Market Demand and Trends

Just like fashion, jewellery experiences its own cycles of trends. When certain styles become highly sought-after, like vintage Art Deco rings or minimalist gold necklaces, their value typically rises in response; on the flip side, if a style falls out of favour, prices might dip, regardless of craftsmanship or materials. Additionally, pieces from renowned designers such as Cartier or Tiffany & Co. often maintain higher values because of brand recognition and consistent demand from collectors.

When considering your valuation, it's smart to be aware of current jewellery trends and market popularity, as these directly influence the valuation.

Condition and Wear

Even exceptional pieces can lose value if they're worn down or damaged. Scratches, dents, missing stones, or poor-quality repairs all negatively impact valuation. A well-maintained piece not only fetches a higher valuation but can also attract better resale offers.

Before your jewellery valuation, it's wise to have your items professionally cleaned and examined for any needed repairs. However, avoid major alterations, as the original condition often holds more value.

Authenticity and Certification

In the world of jewellery, authenticity is critical. A diamond certified by a reputable gemological laboratory, such as the Gemological Institute of America (GIA) or the American Gem Society (AGS), commands trust and a higher market value. Certified pieces clearly state the gemstone's grade, dimensions, and treatments, making valuation more straightforward.

Jewellery without proper certification poses risks, particularly regarding valuation accuracy and obtaining jewellery insurance. Insurers usually require these verifications to confirm the genuine nature of the items they cover, so certified pieces could simplify and speed up the valuation and insurance process.

Now that you're familiar with the factors influencing your jewellery's value, we'll explore how often you should update your valuation and why this matters.

Common Jewellery Valuation Mistakes (and How to Avoid Them)

Valuing jewellery involves balancing emotion with practicality. While your piece might carry deep personal meaning, its financial value is grounded in measurable factors. Understanding common valuation mistakes will help you avoid disappointment and secure accurate insurance for your jewellery.

Overestimating Sentimental Value

Jewellery often represents special memories—engagement rings, heirloom necklaces, or milestone gifts. While these items are emotionally valuable, sentimental value rarely translates to higher market valuation figures. An accurate valuation relies strictly on market conditions, materials, craftsmanship, and brand heritage, not emotional attachment.

How to Avoid This

Approach valuations objectively, focusing on tangible qualities such as gemstone grading, metal purity, and current demand. While your jewellery's personal significance is irreplaceable, separating sentiment from valuation is crucial when determining its financial worth.

Choosing the Cheapest Valuer

Cost shouldn't be your sole factor in selecting a jewellery valuer. Valuers charging significantly less than their peers may lack essential qualifications or experience. An unqualified valuer could inaccurately evaluate your jewellery, leading to undervaluation, overvaluation, or incorrect documentation, potentially causing issues with your jewellery insurance.

How to Avoid This

Always select a valuer accredited by reputable bodies, such as the National Council of Jewellery Valuers. Qualified experts typically charge competitive market rates and provide detailed, accurate reports that insurers accept without issue.

Ignoring Gemstone Certifications

Gemstone certificates from respected labs like the Gemological Institute of America (GIA) underpin reliable jewellery valuations. Valuations without certification leave ambiguity about gemstone quality, directly impacting insurance eligibility and claim payouts. Without verified documents, your jewellery's valuations may be undervalued, complicating any potential future claims.

How to Avoid This

Ensure every gemstone valuation includes up-to-date, recognised certifications. Request updated certificates from reputable institutions if previous documentation is missing or outdated.

Common valuation mistakes:

• Using sentimental value over market value

• Selecting an unqualified valuer

• Neglecting updated gemstone certifications
  

Next, we'll cover how regularly updating your jewellery valuation benefits your financial planning and insurance accuracy.

Jewellery Insurance: Why It Matters After Valuation

Getting your jewellery valued is a smart first step, but it may only be part of the picture. To safeguard your items, you may wish to consider how insurance fits into the picture.

What is Jewellery Insurance?

Jewellery insurance is a type of cover specifically designed to replace, repair or compensate you if your item is lost, stolen, or damaged. Unlike standard contents insurance, specialist jewellery policies like those offered by JewelCover often provide broader coverage tailored to your pieces' unique value, use, and design.

For example, depending on the policy, you may be able to return to your original jeweller in the event of a claim or provide worldwide cover for wear outside of the home, options that standard policies may not include.

Insurance for Jewellery in Australia: Key Considerations

In Australia, insurance for jewellery can vary depending on whether you're using general contents cover or a specialised provider. Many homeowners assume their jewellery is automatically covered, but item limits, wear exclusions, and strict claim conditions may apply.

Here are a few things to consider:

• Item Limits: Some policies cap claims for valuables unless you've listed them separately.

• Wear and Travel: Jewellery worn daily or taken overseas may not be fully covered without additional inclusions.

• Claim Conditions: Policies may require evidence like valuations, photos, or receipts to approve claims.

That's why some Australians choose specialist jewellery insurance. These policies are designed with jewellery in mind, offering tailored coverage, expert support, and benefits like free annual revaluations, a replacement policy and the ability to return to your preferred jeweller in the event of a claim.

With valuation and insurance covered, let's explore some of the most frequently asked questions about the process and what to watch out for.

Make Your Jewellery Valuation Count

Understanding the true value of your jewellery starts with a proper valuation and if you're planning to sell, gift, or insure your pieces, this step shouldn't be skipped. An expert valuation helps you set a realistic price and forms the foundation for tailored insurance that reflects what your jewellery is worth today.

Whether you're looking to insure a family heirloom, prepare for resale, or simply update your records, getting an accurate valuation now can help you avoid financial uncertainty or delays during the claims process.

Get an indicative jewellery insurance quote with JewelCover today.