Appraisal - what is it?
When you submit jewelry for valuation with us, you can rest assured that the entire process is handled locally – directly from our workshop in Bergen. We offer professional and thorough valuations performed by experienced professionals, without intermediaries.
All valuations are performed in-house in Bergen, providing you as a customer with extra peace of mind. Your valuables are treated with the utmost respect and security throughout the entire process. Our goldsmiths and professionals have high expertise in valuing precious metals, diamonds, and gemstones.
The process
The process begins when you bring your items to our store. We then conduct a thorough assessment that includes:
Analysis of metal content (gold, silver, platinum)
Assessment of diamonds and gemstones
Inspection of condition, craftsmanship, and origin
Market valuation based on current prices
We place great emphasis on accuracy and quality at every step, ensuring you receive a correct and reliable valuation.
Processing time
The appraisal process normally takes 4 weeks. This ensures that each item receives the time and attention it deserves. We believe that thoroughness yields the best results – and that benefits you as a customer.
Documentation and Guidance
Upon completion of the valuation, you will receive a written assessment. We can also advise you on further options, whether it concerns the sale, insurance, remodelling, or storage of your jewellery.
Different types of appraisals
There are several types of appraisals, depending on what the valuation is to be used for. It is therefore important that both the appraiser and the client agree on which type of appraisal is to be performed.
Insurance Valuation
An insurance valuation should show the cost of replacing an item with a comparable new item at the time of valuation. This means that the insurance valuation is often higher than what the item can be sold for on the used market. The valuation does not take into account that the jewelry is used, nor does it include collector's value or antique value. The purpose is to ensure that you receive adequate compensation from the insurance company if the item is stolen, lost, or damaged.
Sales Valuation or Probate Valuation
A sales valuation is often used in connection with inheritance or if one wants an assessment of what the jewelry might be worth on the used market. Here, the appraiser assesses, among other things:
- design and brand
- quality of workmanship and materials
- condition
- antique value
- collector's value
The valuation reflects an approximate value in the secondary market, for example, when selling online or through auction houses.
Valuation for Loss or Damage
If a piece of jewelry has been stolen, damaged, or lost, an appraiser can prepare a valuation based on available documentation. This could include photos, previous valuations, or descriptions of the item. This type of valuation is often used by insurance companies when calculating compensation.
Damage Valuation
A damage valuation calculates the cost of repairing an item to restore it to the same condition as before the damage. The repair should not reduce the item's value. When do you need a jewelry valuation? Valuation can be relevant in several situations, including:
- for insuring valuable jewelry
- for inheritance or estate settlement
- if you want documentation of the value
- before selling items
- after damage or theft
A professional valuation provides clear documentation of the item's value and can be important in discussions with insurance companies or in legal processes.
Visit us at Sandbrogaten 11!
It is always an advantage to have an overview of the jewelry and other valuables you own. Photos and descriptions can be of great help if items are stolen or lost. Many also choose to update valuations regularly, as prices for gold, diamonds, and other precious stones can change over time.
Come visit us, and we will help you further!
Frequently asked questions
Valuation
Valuation means that a professional assesses and determines the value of a piece of jewellery based on materials, quality, market, and the purpose of the valuation.
An insurance valuation shows what it would cost to replace the piece of jewellery with a comparable new item, whereas a sales valuation shows what the piece of jewellery might be worth on the second-hand market.
Appraisal should be carried out by a professional with specialized expertise in the goldsmith trade and jewelry valuation.
An appraisal provides documentation of the value of your jewellery and may be required for insurance, inheritance, sale, or damage claims.
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