Robert H Nicholson has been a Gemmologist, Registered Valuer and Diamond Grader for the last 30 years. To become a registered valuer Robert had to become a member of the National Council of Jewellery Valuers (NCJV).The NCJV are highly skilled experts trained in providing accurate assessments of all types of jewellery that is based on accredited education. Their detailed reports are essential when claiming insurance for lost, stolen or damaged items, when seeking a fair price at a sale or if you want to purchase a new piece of jewellery.
All members must undergo training in all the key areas of gemmological study, gemstone grading and the detection of synthetic gemstones. They must also commit to ongoing education to keep up-to-date with industry changes in order to maintain their membership as a Registered Valuer.
NCJV Registered Valuers have access to the latest testing equipment and procedures to provide a scientific analysis of precious and semi-precious gems. They are trained to identify minute details that can affect a valuation and are familiar with the techniques used in the manufacture of imported and modern jewellery, and the creation of antique pieces.
Consumers should only accept valuation certificates that clearly state the purpose of the document - eg insurance, deceased estate, auction, private sale or divorce settlement - and the type of market on which valuation is based.
The different markets and reasons for a valuation include:
- Retail: A detailed assessment that estimates the likely replacement price at a traditional shop. This type of valuation is often used by insurance companies.
- Auction Reserve: The minimum hammer price achievable in an ideal auction market, where time is not a factor. This figure does not include premiums or commissions which can vary at each auction.
- Non Forced Sale: An estimate of a reasonable second-hand price between a willing buyer and seller in a fair or specialised market without time constraints.
- Forced Sale: The price that can be expected when an article must be sold within a short time frame in potentially non-ideal market conditions.
- Divorce Property Settlement: The Family Court may require a valuation of jewellery in a divorce settlement. Written directions are provided by the solicitors with the valuation usually based on “fair market value”, although this may vary.
- Deceased Estate: Again, written directions are provided by the lawyer or executor of the will, with the valuation reflecting the current market value or the requirements of the will.
A quality assessment report is prepared for people who require an accurate appraisal of jewellery without a value statement. Such reports contain detailed technical information, with the assessments conducted in the same way as a full valuation. They are useful for people wanting to:
- Prove ownership of an item that has been recovered after being stolen or lost.
- Have their jewellery fully assessed but not for insurance purposes.
- Differentiate between two pieces of jewellery that look identical.
- Verify the authenticity of items.
- Assist police with a description in the event of loss or theft.
- Provide jewellery of similar quality to different people.
- Assess jewellery that has been damaged.