Valuation of gems calls for time and care

Press, 29 November 1977, Page 17

Valuation of gems calls for time and care

Many people are surprised to learn, when they take their ring to a jeweller to have it valued for insurance, that they have to leave it to have this done. It is not possible to take a quick look at a diamond ring or other article of jewellery and immediately judge its value for insurance. First, the ring must be cleaned so that the quality and colour of the diamonds or other stones can be determined. Second, the stones themselves must be identified. Apart from diamonds it is not always possible to identify stones on sight.

Sapphires, rubies and emeralds must be identified as being natural or synthetic. Some other stones may require scientific testing to identify, because they cannot be classified on colour alone. Next the stones have to be measured and tables consulted so that an estimate of the weight of the stone can be made. With the weight, colour and clarity known the approximate value can be calculated. To this must be added the value of the mount. Is it made in 9ct or 18ct gold? How much labour is in the particular design? Then the settings are closely inspected to see that each stone is safe,

and any wear that may be dangerous to its safety is noted. As you can see, all this can be a time-consuming task, especially where there are a lot of stones in a ring or brooch. The value of your jewellery for insured purposes, is, if in new condition, its retail replacement value. With older pieces not in new condition the value is considered to be what would be reasonable recompense in the event of loss. There are also valuations for Probate or Death Duty purposes. Here the same procedures apply but the value is what the article could be expected to realise if sold on the open market at the time.

This special feature on precious stones is the sixth of a series to appear in “The Press” on Tuesdays. The series ends next week with articles on diamonds and a chance for readers to win a magnificent diamond ring worth $5OO. Today we announce the winner of the nine carat gold bracelet and give readers an opportunity to win a three-stone rhodolite, garnet, and diamond ring worth $5OO. Readers will now be very much aware of the quality and variety of items available from qualified retail jewellers. With Christmas less than four weeks away it is as well to remember that gems, semiprecious jewellery, watches, and clocks make ideal gifts for people you cherish.