Aussies - insurance valuations (& Garry if you are reading)

[D2B]

Ok, fellow Aussies,

I have just had my Facets eternity 15 pointer 9 stone, FG colour VVS-VS valued at $5400 AUD. Now, does that seem a bit lean to you. I thought the whole point of an insurance valuation was to get comfortable cover. how does that strike you? I had a look at a local jeweller in melbourne who sits between the mall and tiffany jewellery stores, indpendent upmarket store, with a front in collins street and comparable cut, size etc would cost AUD 7600 - so what gives.

Was this jeweller just tight in his estimating? Should I go somewhere else? I really thought insurance values where always a bit inflated and everyone knew that iykwim, to give you peace of mind that the ring can be replaced easily. I guess I should have just gone to Garry Holloway, rather than taking the easy route and go somewhere close to work.

Garry, if you are reading an Australian industry perspective would be appreciated, I am assuming you are familiar with Facets eternity bands and their stones. Are insurance valuations supposed to be spot on? or even lean? or do they provide a bit of a buffer?

Oh, not to mention he forgot to return my AGS Certiications for my earings, which I will now have to chase up - I have the folder, just not the paperwork argggghhhhhhhhhh.....

Any other melbournians on here? Now that I have come out so to speak, might as well see who else is around.

thanks to all

DB

 

[arjunajane]

Hey D2b,

I'm assuming your saying the valuation came back less than what you paid,
or just on?

In that case, no it's not acceptable. If this guy is a jeweller, his motivation
could have been to make you doubt your purchase. Or he may just not know what he's
doing!

I'm not sure what type of services Garry runs in that dept., but I would just advise
finding an independent valuer.

try this site perhaps?

http://www.ncjv.com.au/

 

[D2B]

thanks for that link, will check it out.

I am still waiting to hear back from that jeweller regarding my AGS paperwork, I cant believe he forgot to put it back in my folder, and I didnt check either argghhhh.

 

[Deelight]

Date: 7/8/2009 10:56:10 PM
Author: arjunajane
Hey D2b,


I''m assuming your saying the valuation came back less than what you paid,

or just on?


In that case, no it''s not acceptable. If this guy is a jeweller, his motivation

could have been to make you doubt your purchase. Or he may just not know what he''s

doing!


I''m not sure what type of services Garry runs in that dept., but I would just advise

finding an independent valuer.


try this site perhaps?


http://www.ncjv.com.au/

ditto to AJ

 

[bluemoi]

Should jewelers ask for the invoice to get a more accurate valuation? It seems some really need that guide as I am reading more and more people getting under valuations. I recently got a valuation that was under what I expected and also under what I paid for the diamond and setting. I wasn''t upset because I thought perhaps this is how much it would cost the jeweler to replace the whole piece? I don''t know but perhaps then jewelers should give their clients one for insurance purposes in the event of loss or damage and one for resale value? I think that would cut out some of the confusion and frustration that I have been hearing so much about. It seems the people have spoken but its up to industry to step up and set the standards.