Solitaire Rings
It’s that awful gut wrenching moment when you realise your wedding ring is missing, or worse, callously stolen from you. It’s not about the materialistic aspect of the ring but what the ring represents and its sentimental value. This is something that could have been in the family for generations and passing this on is a tradition you’re not ready to let go of yet. Situations like this are becoming far too common so ensuring you value your ring, protects you if the worst happens.
Valuation information from F.Hinds, a professional jewellery retailer, found that the classic diamond solitaire ring was the most popular jewellery piece valued in 2018. Which is no surprise as it’s one of the most popular engagement rings. The study further revealed that British households on average are sitting on over £1,000 worth of jewellery.
Looking at the F.Hinds’ jewellery valuation results between 1st January 31st December 2018, it was revealed that as a nation, we may have over £30 billion worth of jewellery in our homes. The highest valued jewellery piece on the database was worth £2.5 million.
Jeremy Hinds, Sales Development Director at F.Hinds, said:
If you’re buying a jewellery piece that you may one day pass on as a family heirloom, consider choosing something with a classic design and metal. Precious metals such as yellow gold, white gold, rose gold and platinum are important because they not only look stylish, they’re also of the best quality and will stand the test of time.
What to look for if you have a family heirloom.
It’s worth taking the time to work out if there are any factors that could affect the value of the jewellery. Here are some of the main things to look out for when assessing each piece:
Firstly, what metal is the piece made from? The precious metals used can have an impact on the final value. For example, some metals are more valuable than others. Also, the carat, clarity and jewel itself can all affect the final amount.
Next, look at the craftsmanship involved. How do the parts fit together? Are the hinges working smoothly? Expert valuers will be able to look at the inner mechanisms to see how clasps and links are operating, however you can have a look at the texture, polish and finish to see if the piece looks pristine.
Rarity is also significant. A one-of-a-kind piece with a unique design could be worth a lot. Also, if the piece is limited edition or is a bespoke design, you might find this reflected in the value.
Possibly one of the more obvious points to consider is its condition. If there has been a lot of wear and tear over the years, this can cause the final value to drop. If there are any breakages or discoloured parts, you’ll also see this reflected in the estimate.
Similarly, should you or the previous owners have taken steps to repair precious damage to a piece, this will be apparent. Adaptations or alterations may influence the value.
So, there’s a lot to look out for. If you can spot some of these points yourself, you might be able to get a rough idea of what your items are worth. Commenting on the importance of having your jewellery valued, Jeremy Hinds continued:
Having an up-to-date valuation of your precious jewellery is very important. It’s estimated that one in four people are underinsured for their jewellery and have no idea of its actual value. If your jewellery was ever stolen, your insurance company will ask for a current jewellery valuation for each piece when you make a claim – without this you may not be fully compensated. A current valuation also serves as proof of ownership if its ever lost.
Buying jewellery to pass down your family is incredibly special. Always do your research, keep it safe and ensure your insurance is valid. Our valuation service is an ideal opportunity to assess your jewellery and to make sure you are covered if the worst happens.
For more information please visit: https://www.fhinds.co.uk/customer-services/valuations
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