Andrew Lamputt has been valuing silverware and jewellery for over 20 years and has gained great expertise in the subjects, backed up by a trusted and keen team of staff.

As a qualified REGISTERED VALUER, Andrew Lamputt has satisfied the necessary high standards laid down by the Valuation Committee of the National Association of Goldsmiths. This qualification is only granted to those working in the jewellery trade who have the necessary knowledge, expertise, experience and equipment to undertake such work to the exacting standards demanded by the examining body

Thinking about the possible theft or loss of your favorite jewellery is hardly pleasant, but the possibility cannot be ignored. An up to date professional valuation will at least maximise the chance of an equitable replacement should the worse happen. The operative word is professional. In theory anyone can carry out a jewellery or silverware valuation you don’t need any professional qualifications, in fact you don’t even need to be a jeweller and you certainly don’t need one of those nifty little magnifying glasses. However, a professional jewellery/ silver valuation that provides a comprehensive and accurate identification and description of each piece and a well reasoned opinion of value requires considerable expertise.
That is why we would like to offer our experience to you.

All items left with us for appraisal are listed for the customer during ‘the taking in procedure’ and are fully insured whilst on our premises.

The final Appraisal\Valuation we hand over to our clients is a highly detailed document, produced to conform to Registered Valuers strict guidelines .

When necessary photographs are produced to accompany the Appraisal\Valuation for the more valuable pieces.

Types of APPRAISALS AND VALUATIONS

1. Valuation for Insurance Replacement 2. Valuation for Private Sale 3. Valuation for Probate 4. Valuation for Loan Security 5. Capital Gains Tax. (CGT) 6. Family Division and Divorce

These values are completely different from each other and none serves the purpose of another.

An Appraisal\Valuation provides the following information.

1. A monetary value on each individual item. 2. A check list 3. Proof of ownership 4. To enable the replacement or remake of a similar item using the information in the appraisal. 5. To show an exact date of when the item(s) existed. 6. To reduce disputes with Insurance Companies\Loss adjusters about the nature of a claim in the event of a loss. 7. To check that a replacement item is of a comparable quality and value. 8. To prove to H.M Customs of ownership when re-entering the country and thereby avoiding duty and tax.

Your complete NAG Registered Valuer appraisal will not require updating, only the actual monetary value will require future reassessment, unless of course the pieces have been materially altered in some way.

Why you should have your jewellery valued

There are a number of reasons why it could be essential for you to have your jewellery valued. It goes without saying that jewellery you own should be adequately protected by insurance. But even if you already have insurance cover based on a valuation given to you some years ago, it would be prudent, because of the sharply rising cost of gemstones, gold and labour, to have it valued again. Otherwise if you were unlucky enough to lose your jewellery, have it stolen, or damaged, the money you receive may not be sufficient to restore the loss. These days you would be wise to have your jewels revalued every two to three years.
As an executor of an estate, any jewellery included in that estate would need to be valued for probate in order to satisfy the inland revenue.

1. Appraisal\Valuation for Insurance Replacement

This is the commonest type of valuation undertaken by most jewellers.
The monetary valuation is based on the replacement cost, that is the retail price, (including Value Added Tax), to the client of replacing an item of goods with a reasonable equivalent item.

Retail price means the price that a retailer charges or would charge at the time of the appraisal for an item reasonably equivalent to the item appraised. This takes into account the relevant locality or type of business where the item was originally purchased.

In exceptional circumstances the valuation may be based on the estimated cost of recreating the item exactly to the original design, in which case explanatory notes \ wording to that effect are included in the appraisal document.

If an item is damaged, or is in a condition that has a noticeable effect on its value, such damage and or/condition is recorded as part of the valuation description.

It should be appreciated that a valuation given to you by a jewellery does not represent an offer to purchase unless the jeweller actually makes such an offer in the course of making a valuation for realisation purposes.

2. Valuation for Private Sale

Valuation for private sale or disposal reflects the price likely to be obtained by the client in a sale to a person in their private capacity.

It is usual for the figure produced by this form of valuation falls between cost and retail prices excluding Value Added Tax.

3. Valuation for probate

A valuation for probate is based on the price which the jewellery is likely to realise if it were sold in the open market at the time of death of the owner. As this does not take into account the current cost of labour, materials or current taxation levels but only the current market situation, the figure put on jewellery valued for probate will be considerably lower than a valuation for insurance purposes.

4. Valuation for Loan Security

Valuations for loan security will state values at the lowest level reasonably assessed as likely to be realised on a sale of the goods, without the benefit of favorable market conditions.
The interests of the owner of the goods and the party accepting them as security is balanced, while our responsibility remains with our client who asks for this type of service.

5. Capital Gains Tax. (CGT)
This type of valuation is usually requested by a clients accountant or financial advisor. In the absence of any other proof of cost, receipts or insurance valuation the values are based on the comparison with goods on the open market together with prices achieved at auction.

6. Family Division and Divorce
Family division is the heading used nowadays to cover valuation of assets in divorce proceedings.
In general the values are similar to probate values or ‘offer prices’ that could be obtained fairly quickly.

Post Loss Assessment.
In addition to the standard Valuation services described above we also offer a Post Loss Assessment valuation service. This service is usually requested when a item(s) has been lost or stolen and a detailed valuation is absent. The Insurance Company will require a written statement, descriptions and retail estimates to replace the lost item(s) with a similar piece(s). This document is not classed as a Valuation but as an un-sighted opinion of the replacement cost based on the clients verbal, photographic and or other forms of documentation.

Code Of Practice.

All NAG Registered Valuers must adhere to a strict Code of Practice. These are basic practices and procedures that the association has codified into 12 Articles to form an advisory but mandatory code of practice for Registered Valuers. This code has been agreed by the Office of Fair Trading in the UK.

Valuation of new jewellery

When a piece of jewellery is purchased you will probably need a replacement valuation in order to obtain insurance cover. It is better to ask the jeweller who sold the article originally for a valuation for insurance purposes rather than issue a receipt to the insurance company, because most jewellery insurance can be placed on a replacement basis, or an agreed value basis.
Generally speaking with insurance, it is wise to specify your jewellery on an "All Risks" basis rather than under the same terms as the contents of your house.

Who should value your jewellery?

For very practical reasons the valuation of jewellery should always be undertaken by a jeweller, because he has the experience of the current market situation.
To gain for yourself the most benefit from the valuation please bear in mind the following points. A reliable valuation is an opinion based on knowledge gained through training, experience, specialist knowledge and is backed up by the use of technical equipment where necessary. It should always be written, so please do not rush the valuer, give him adequate time to carefully examine your jewellery, and the more intricate the jewellery, the more time needed to examine it.

SCALE OF FEES.

Valuation for Private Sale
Valuation for Probate
Valuation for Loan Security
Capital Gains Tax. (CGT)
Family Division and Divorce

Because of the intricate nature of jewellery, valuation charges vary and where valuations are made away from our premises additional charges are usually made for any travel cost and time.

Finally, if you still have questions you wish answered about a valuation, Contact us by e-mail, fax or telephone to discuss your appraisal/valuation requirements.