What Happens If You Don’t Update Your Jewellery Valuation Regularly?

Jewellery is often more than just a fashion statement or accessory—it can be a family heirloom, a significant investment, or a treasured gift symbolising love or success. Despite its importance, many people overlook one critical responsibility: keeping the valuation of their jewellery up to date. Whether for insurance, legal matters, or personal records, regular updates are essential. With professional jewellery valuation Melbourne services, you can ensure that your jewellery’s worth is always accurately documented and protected.

Why Jewellery Valuation Needs to Be Updated

Valuation certificates are not one-time documents. Like any form of appraisal, jewellery valuations are tied to current market conditions, trends, and fluctuating metal and gemstone prices. Over time, these factors change—sometimes dramatically. A valuation done five or ten years ago may no longer reflect the true value of your pieces.

If your jewellery has increased in value and your records are outdated, you could find yourself underinsured. In the event of theft, loss, or damage, an insurer may only reimburse you based on the outdated valuation, leaving you significantly out of pocket. Updating your jewellery valuations regularly—ideally every 2–3 years—is the best way to protect your financial and sentimental investment.

Risks of Outdated Valuation for Insurance

Your insurance policy relies on accurate documentation. If your jewellery was last valued a decade ago, your insurer may dispute the replacement cost during a claim. Worse still, they may not honour the full amount if you’ve failed to inform them of substantial changes in value.

Updated valuations serve as current proof of your jewellery's worth, providing your insurer with the details they need to process a claim fairly and efficiently. Without it, you risk delays, disputes, and reduced payouts.

When Jewellery Becomes Part of an Estate

Jewellery is commonly included in wills and estates, often being passed on to loved ones as cherished keepsakes or high-value assets. If your jewellery valuation is outdated or missing entirely, it can lead to confusion, disagreements, or even legal complications during estate administration. This is especially important when managing or executing deceased estate jewellery valuations.

Professional and up-to-date valuation ensures accurate distribution among beneficiaries and helps solicitors or executors correctly assess the total value of the estate. It also assists in navigating probate processes and reduces the likelihood of disputes between heirs. Regularly updated records make this process far more manageable and transparent for everyone involved.

How Market Changes Influence Value

Jewellery values can change due to fluctuations in global markets, especially when it comes to precious metals like gold and platinum. Over recent years, gold prices have experienced significant rises, which means the same piece of gold jewellery today may be worth substantially more than it was just a few years ago. If you haven’t had a recent gold valuation Melbourne, you might not be aware of how much value your items have gained.

By staying current with valuations, you ensure that both your insurance coverage and estate planning are based on realistic and up-to-date figures. This is particularly important for collectors, investors, and families holding onto older or inherited pieces.

Changes in Jewellery Condition Over Time

Jewellery is subject to wear and tear, even if it’s stored carefully. Scratches, loose stones, or damage to settings can affect its value. If your piece has undergone repairs or alterations, it may need a fresh appraisal to reflect its new condition.

On the flip side, some jewellery increases in value due to rarity, vintage appeal, or designer brand recognition. This is why a current valuation that takes both physical condition and market appeal into account is crucial. Your outdated certificate might not capture these changes—whether they’re positive or negative.

The Importance of Keeping Diamond Valuations Current

Diamonds, as the centrepieces of many engagement rings and high-end jewellery items, carry a significant portion of a piece’s overall value. Their worth can change based on supply, demand, and evolving consumer trends. Having a current diamond valuation Melbourne ensures that the 4Cs (cut, colour, clarity, and carat) are reassessed by modern standards and graded accordingly.

In some cases, advancements in diamond grading technology or changes in certification requirements can influence a diamond’s assessed value. An updated valuation ensures that your stone is graded with the most accurate and relevant methods available today.

When to Schedule a New Valuation

While there’s no fixed rule, most valuers recommend updating your jewellery valuation every two to three years. However, there are specific circumstances where an immediate revaluation is advisable:

• After major market changes – especially for gold or diamond prices

• Post repair, redesign, or resizing of your jewellery

• Following a significant event, such as a divorce or death

• When adding jewellery to your insurance policy

• Before selling or gifting valuable items

If you're unsure whether your existing certificate is still relevant, a quick consultation with a trusted valuer can offer clarity.

Why DIY Estimates Aren’t Enough

Online calculators, generic estimates, or verbal appraisals from retailers may give a rough idea of value, but they don’t hold weight for insurance, legal, or resale purposes. A certified valuation includes professional testing, grading, and market analysis. It’s detailed, accurate, and recognised by insurers, courts, and solicitors alike.

In short, only an independent, professional valuation offers the security and reliability you need when it comes to your jewellery’s true worth.

Benefits Beyond Financial Protection

Regular jewellery valuations aren’t just about money—they offer peace of mind. Whether you're planning your estate, organising insurance, or simply curious about your collection’s current value, an up-to-date valuation gives you a clear picture.

It also creates a record of your jewellery’s details, which can be helpful in case of theft or loss. Police reports and insurance claims often rely on the photos and specifications listed in valuation certificates. These documents become your jewellery’s identity card, helping you prove ownership and replacement value.

Choose Jewellery Valuation Laboratory for Trusted, Independent Reports

At Jewellery Valuation Laboratory, we understand the personal and financial value your jewellery holds. Our certified experts provide detailed, professional valuations for insurance, estate planning, resale, and legal matters. Whether you own heirlooms, investment pieces, or everyday favourites, we’ll ensure your valuation is current, accurate, and tailored to your needs.

We offer transparent, independent assessments with no conflict of interest—meaning we don’t buy or sell jewellery, ensuring unbiased reports every time. Our team uses industry-recognised tools, modern grading systems, and expert market knowledge to help you safeguard your most treasured pieces.

Ready to update your valuation? Call us today on 03 8596 5908 to book an appointment. You can also check out our customer feedback and five-star reviews on our Google Business Profile to see why Melbourne trusts us for reliable jewellery valuations.