Valuation - Rings Is it true that you pay 10% of the valuation in a jewellers?

J

Jildy

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Is it true that you pay 10% of the valuation in a jewellers?

If not, how much does it usualy cost to have, lets say, a ring valued ?

J
 
Re: Valuation - Rings

Jildy,

The more usual price is 1% of the value. However, my g/f recently got her engagement ring valued at the jewellers below in the Powercourt shopping centre in Dublin. It cost about E80, which did in fact work out about 1.5% of the value.


ESL Jewellery
ESL Jewellery*(Emma Stuart Liberty Jewellery) are makers and designers of all jewellery.
Phone: +353 (0) 1 679 1603
Fax: +353 (0) 1 679 1697
 
It will take the jewler half an hour max to value items.
I think €50 at most for any valuation is plenty for his time.
This is like solicitors chargeing % of the sale price of a house for conveyancing.
If you walk and go to the next shop this practice will soon stop.
But if you're a sucker, they'll take your money.
 
I got mine valued for 5 euro!! This was in a midlands town, this cost is much less than 1% of the total cost of the ring!
 
minion said:
It will take the jewler half an hour max to value items.
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We have to get an engagement ring valued for insurance purposes but thus far anywhere we have contacted insist they'll need to keep the ring for anything from a few days to a week.

Being a bloody expensive ring to begin with (but purchased abroad) neither of us are too keen on this idea.

Any suggestions on where one might get a 'half hour' valuation would be appreciated.
 
Does the jewellers you buy the ring from not give you a certificate of value along with your purchase.
 
See above post regarding ESL in Powerscourt. They'll value your ring while you're there I think, or at worst you might have to go and have a cup of coffee and then go back for it.
 
gringo said:
See above post regarding ESL in Powerscourt. They'll value your ring while you're there I think, or at worst you might have to go and have a cup of coffee and then go back for it.
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Thanks, the ring was purchased in Tiffanys in New York and was naturally supplied with certification however for some bizarre reason the insurance company wanted a euro valuation. I was in a hurry so didn't ask them to elaborate.

I may just call back when i've more time and push them for a 'like for like' replacement policy instead. No doubt it could be gotton elsewhere for cheaper (though i doubt it given Irish prices anyway) but i'm damned if the worst even happened that I'd be accepting a non-Tiffanys 'similar' ring.
 
Ignore this if it's irrelevant but do you really need (presumbly) all risks cover for this item?
 
ClubMan said:
Ignore this if it's irrelevant but do you really need (presumbly) all risks cover for this item?
Click to expand...

Seeing as it's an engagement ring i imagine all risks cover would be prudent.
 
You will hear all sorts of stuff around engagement rings. It's a right of passage, you have to do it, but the whole thing is a victory of marketing over substance.

There's a very interesting article on The Atlantic (which was free to view, but I think is now subscriber-only unfortunately) which details the history of the industry. A few snippets from memory:

1) In the early part of the 20th century, engagement rings were bands (like wedding rings). De Beers pushed diamond rings to sell more diamonds, and now we all think engagment = diamonds!

2) Up to the 50's, big diamond equalled good diamond. But then, following a deal to bring the Russians into the cartel, the marketing strategy had to change, since the Russian diamonds were typically smaller. So "Clarity, Cut, Color, Carat" were invented so they could sell us these smaller diamonds. Again, we bought it hook, line and sinker.

3) Then De Beers realised that most people never bought another diamond after their engagement. Hey presto, in the 80's, the Eternity ring was invented....and we're beginning to swallow this one too!

A BBC programme a few years ago on a Russian scientist showed it's now possible to manufacture gem-quality diamonds that are indistinguishable from real ones. De Beers are now beginning to etch a small microscopic engraving on all their stones, so they know their own (and of course sneer that your loved one would only want a "real" diamond.....even though De Beers themselves can't tell the difference!!)

But, for all that.....it's a right of passage, and I'm not sorry I blew a sizable sum on a ring I think the only thing I’d change in hindsight would be to ignore all the “4C” nonsense and just buy the biggest I could afford
 
Hi,

I bought a diamond ring in Dubai, last year. I found it very difficult to get a valuation here done for it. It seemed that a lot of jewellers I tried almost wanted to penalise you for not buying in Ireland. I finally got it done in Keanes of Cork... However I supplied them with all the information, colour, carat weight etc.. and they then confirmed the characteristics to be correct. It cost me 25 euro.

The valuation was far higher by the way than the price I paid for it..
 
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