At Gerard McCabe, helping clients make informed and confident jewellery decisions is part of what we do every day. One of the most important ways to protect your valuable jewellery is by ensuring it has an accurate and up-to-date valuation.
In recent years, the jewellery industry has experienced significant shifts in global pricing across precious metals, diamonds, coloured gemstones, and manufacturing costs. As a result, jewellery that was valued several years ago may no longer reflect its true replacement value today.
Whether you own a treasured engagement ring, a sentimental family heirloom, or a carefully curated jewellery collection, an updated valuation can help ensure your pieces are insured appropriately and protected should the unexpected happen.
To better understand the importance of keeping jewellery valuations current, we talked to our Co-Managing Directors Jessica McCabe-Moran and Justin McCabe to gain their insights into the changing jewellery market and why regular valuation updates matter.
A jewellery valuation, also known as a valuation certificate, is a formal document that provides a detailed description of a jewellery item alongside an assessed value based on current market conditions and the purpose of the valuation itself. As Justin explains, a valuation is “a documented opinion on an item of property at a specific marketplace and time”.
Gerard McCabe offers jewellery valuation services for both Gerard McCabe and non-Gerard McCabe items for retail replacement insurance purposes. Our experienced team carefully assesses each piece based on factors such as metal content, gemstone quality, craftsmanship, design details, and current market pricing.
Importantly, the purpose of a valuation can significantly affect the final value assigned to an item. For example, a valuation prepared for insurance replacement may differ greatly from one prepared for auction, resale, or private sale purposes.
For most clients, the primary purpose of a valuation is insurance. In the unfortunate event of loss, theft, or damage, an accurate and current valuation can help ensure your jewellery is insured for the correct replacement amount. The main purpose of a Gerard McCabe valuation is, according to Justin, “To provide a document for insuring your items for a fair retail replacement”. He also notes that valuations help demonstrate the authenticity and ownership of a piece, which can be critical should an insurance claim arise.
Beyond insurance purposes, an accurate valuation can also provide peace of mind by helping ensure a lost or stolen piece can be replaced ‘like for like’ with an item of similar quality, craftsmanship, and value. Having detailed documentation of your jewellery’s characteristics and current worth can make the replacement process far more straightforward, whether through an insurance claim or personal replacement.
Jewellery values are constantly changing in response to market conditions. Precious metal prices, currency fluctuations, manufacturing costs, and changing consumer demand all influence how much a piece may cost to replace today. Justin observes, “Markets change and price is always fluid for metals and international currency, therefore values are always changing.”
One of the biggest shifts in recent years has been the sharp increase in gold pricing. Jewellery with high gold content may now be significantly more expensive to replace than it was just a few years ago. Jessica says, “Clients should consider updating their jewellery valuations as part of properly managing the insurance of their items, particularly given the significant changes in gold pricing seen in recent years.”
Other market changes have also affected replacement costs. The introduction of lab-grown diamonds into the global diamond market has influenced demand for natural diamonds, meaning replacement values may have shifted over time. Without an updated valuation, some clients may unknowingly be underinsured, while others may be paying for more insurance coverage than they currently need.
For this reason, Gerard McCabe recommends reviewing jewellery valuations every three to five years to ensure insurance coverage remains accurate and up to date.
At Gerard McCabe, we offer jewellery valuation services for both Gerard McCabe and non-Gerard McCabe items for retail replacement insurance purposes. In addition, every Gerard McCabe piece comes with a receipt and digital jewellery certificate, including detailed item specifications, care and maintenance information, and warranty details.
For specialised valuation requirements such as property settlements, disputes, divorce proceedings, investment jewellery held in superannuation funds, or indicative resale pricing, we recommend seeking an independent valuer with expertise in those specific areas. Gerard McCabe Jewellers does not participate in private disputes.
Understanding the value of your jewellery is about far more than knowing what it is worth on paper. It is about protecting the pieces that matter most and ensuring they are properly cared for well into the future.
Whether you own a single sentimental piece or a significant jewellery collection, having an accurate and up-to-date valuation can provide confidence and peace of mind. If you are considering a jewellery valuation or would like guidance on updating an existing certificate, contact the Gerard McCabe online concierge today.
The information provided in this blog is for general informational and educational purposes only and does not constitute financial, investment, or legal advice. It does not take into account your personal objectives, financial situation, or needs. All content is the opinion of Justin McCabe and Jessica McCabe-Moran, Co-Managing Directors, Gerard McCabe, and should not be relied upon as a substitute for professional advice. You should consult with a professional to determine what may be best for your individual needs.