Consumers should be aware of the fact that there is no legal obligation for a jeweller to issue a valuation certificate when an item of jewellery is purchased. However most professional jewellers will often offer to provide a valuation certificate, particularly for items above $1,000. Please note that some jewellers may charge a fee for producing a valuation certificate.
When a new item of jewellery is purchased from a jewellery retailer, a valuation certificate from the retailer is acceptable as long as a full and detailed description of the jewellery item appears on the certificate and, most importantly, the valuation figure that appears on the certificate is the same as the price actually paid. A valuation certificate for insurance purposes is supposed to reflect the market price of the item and the price paid is by definition the market price. The only exception to this is when a retailer who has one or two genuine clearance sales per year sells a product at a genuine discounted price and where that retailer believes that it would not be able to replace the item for the price actually paid.
For pre-owned jewellery we recommend consumers use a registered valuer to value their jewellery or check that the person valuing your jewellery has the appropriate qualifications for assessing jewellery.
It is important to know that jewellery valuations do need updating. It is therefore recommended that items of jewellery be valued approximately every 2 years.