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What is a retail replacement valuation? #NCJV #Jewellery #Jewelleryvaluer

Updated: Oct 24

When we value jewellery and watches for clients, we have to stipulate what market we are valuing the item for.


For example, if a customer has purchased a brand-new watch, a Rolex, Omega, Breitling, Patek Philippe, Vacheron Constantin or Audemars Piguet from an authorised dealer recently and would like to have it insured for replacement if the item is ever lost or stolen, then a retail replacement value will be used.


If a customer has purchased a new item of jewellery from Cartier, Tiffany & Co, Chaumet or Bvlgari, then they may also want to have the item replaced at an authorised retailer or the store of purchase, again in this instance, a retail replacement value is used.

A sample valuation of what we provide is in the image below:






This valuation is an example of what our valuations look like currently, please note that the prices and names have been removed for security purposes.


We have been an independent NCJV registered since 1997, currently we hold the record in our store for the youngest ever gemmologist, diamond grader, diamond technologist and jewellery valuer ever in Australia with a speciality in watches located at the Dymocks building, 428 George St, Sydney, NSW 2000.


Retail replacement is commonly called “Insurance” valuation, this term is no longer used as it doesn’t correctly reflect the valuing market. Because of this name, it means that the valued item is replaced by the same or similar item from the same outlet or it’s closest location to us here in Sydney.


For our valuation services, click the link below:


You can find NCJV registered valuers in your area here: www.ncjv.com.au


 

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