After initial discussions with the client to establish what type of valuation is required (the most common one being for insurance purposes), the item is fully examined in front of the client to check for any damage to stones or settings, and advise the client accordingly, prior to preparing the take-in documentation.
The valuer then assesses the overall quality of the piece.
The metal is tested to determine the caratage, either by acid or electronically. The most common being 9ct, 10ct, 14ct, 18ct, 22ct and silver or platinum.
All stones are assessed in settings. We do not remove any stone, unless given written instructions by the client to do so.
Coloured stones are tested using standard gemmological testing procedures and equipment, eg refractometer, polariscope, microscope, spectroscope, ultra violet light, if applicable to that particular gemstone.
Diamonds are assessed using 10x loupe, microscope, thermal probe and ultra violet light. The cut, colour and clarity are assessed using daylight equivalent light and a range of comparison stones.
On the rare occasion should the identity of the stone in question not be able to be determined then we have access to laboratories that have very sophisticated equipment.
After the initial gemmological examination each gemstone is measured and weight estimated using standard industry accepted formulae.
The manufacturing of the piece is then taken into consideration and assessed as fully or partly handmade, cast, component or machined. The quality of the workmanship plays an important role in the final analysis.
The total item is then weighed using approved scales.
The final valuation certificate documentation is then prepared incorporating a digital image of the item.
No matter what the purpose is for the valuation the methodology is always approached in the same diligent manner.
Valuations can be prepared for different purposes.
Some of these are:
Auction Reserve – is the estimate of the fall of the hammer price where time is not a consideration, and does not include any taxes, duties or buyer and seller commissions.
Probate – is considered as a price which can be achieved under the conditions of a forced sale.
Forced sale – is the estimate of the realizable value when items must be sold within a short time frame, possibly not under ideal market conditions.
Private sale – is a fair and reasonable price for one member of the public to sell to another member of the public and does not include any taxes, duties or buyer and seller commissions.