Your old family heirloom is worth more than its monetary value. These heirlooms are the bridges that connect two different generations, and it is therefore important to ensure that they remain in the best condition possible. To get this done, you need to get them repaired as soon as you see the marks of wear and tear or any other sort of problem, such as dull shine or other such issues.
Living in the UK? Well, if you live in the UK, things are easier for you; however, sometimes a lack of information can lead to poor decisions. So, this article will give you all the info you need to repair and appraise your heirlooms.
In the UK, the repair and valuation of heirloom or heritage jewellery are essential practices to maintain both the sentimental and financial worth of these assets. As a matter of fact, the UK jewellery market generates approximately €5.16 billion in revenue in 2023 and is projected to reach around €7.24 billion by 2030. This data clearly shows how important it is to get an accurate valuation for your jewellery and repairs.
The Significance of Jewellery Repair and Valuation
The piece of jewellery that you inherited just a few years ago is not only something sentimental or emotional that just got added to your assets, nor is it a mere asset adding to your net worth; it is something much more than that. It represents the past that you will carry with you for the rest of your life, allowing you to feel the warmth of your ancestors’ love. But over time, these pieces are damaged for various reasons. In such cases it is best to get your jewellery repaired in time, which will help you in ensuring that they remain in a good condition and retain their value even when they get old. To get this done, you need to visit a professional jewellery repair and jewellery valuation agency. These agencies guarantee the restoration of these items to their original splendour, thereby maintaining their structural integrity and aesthetic appeal.
Apart from getting the jewellery repaired, you also need to get the jewellery valuation done on the other hand, and this is indeed important for several reasons. Please consider the important reasons listed below.
- Insurance: When the valuations are done accurately, it ensures that jewellery is properly insured, and in unforeseen circumstances, such as theft or burglary, you can get the right amount in return when you report the theft.
- Estate Planning: During the inheritance procedures, equitable divisions are important. Getting the valuation done also helps in easy estate planning.
- Resale: When you get the valuation done, you will have an idea about the price that your jewellery would fetch on the open market. This will provide you with mental peace and security about the value of the assets you own.
The Right Way to Get It Done
To ensure that the repairs and jewellery valuations are completed correctly, it is crucial for you to understand the proper procedures involved. Here are some tips to help you track your progress and take the necessary precautions to ensure your assets are properly valued.
- Engage Qualified Professionals: Constantly try to look for certified valuers and repair specialists. This ensures that you avoid visiting an unprofessional valuer and receiving an incorrect valuation. In the UK, there are several valuation companies and organisations, and you can visit one of them. Prestige Valuations, located in the UK, is a trustworthy and established valuation company that offers a range of comprehensive services, including jewellery repair and valuation.
- Regular Valuations: Market fluctuations are real, so it is important that you get the jewellery valued every 3–5 years. It is always advised that you must not get the valuation done once and then keep the same price in mind as the worth of your asset. Prices mostly appreciate and, in a few cases, depreciate too. Getting an appraisal done will help in keeping track of the price of your asset.
- Avoid Online-Only Valuations: Although the online valuations are quite convenient and most of the companies provide the customers with this option too, in most of the cases, these valuations are not accurate, as they depend entirely on the image sent to them by the customers. Therefore, it is best to have the jewellery checked and valued in person rather than relying on online valuations.
Summing Up
To sum up, getting jewellery and other valuable assets repaired and valued is extremely important. Completing this process will be beneficial in several ways that we have already discussed above. You must always visit a trusted valuer, who will provide you with all the necessary documents for other legal processes.
