10 Facts You Need To Know About Engagement Ring Insurance
When you first start shopping for an engagement ring, you might feel that you’ve gone back to school...
.png?width=428&name=q-report-logo-high-retina-v1%20(1).png "q-report-logo-high-retina-v1 (1)"){kind=logo}
-
1300 882 018
Trying to call us? We are currently updating our system. Contact us using the Live Chat feature or email us at info@qreport.com.au and we'll call you back.
Jewellery insurance info, helpful guides, resources and industry-leading insights.
When you first start shopping for an engagement ring, you might feel that you’ve gone back to school...
When you first start shopping for an engagement ring, you might feel that y...
Is it possible to insure an engagement ring without home and contents insur...
You’ve found the ring of her dreams, and now you need to protect it. Specia...
If you could be doing anything today, what would it be? Shopping for insura...
Wedding costs add up fast! And worse, the list seems to grow as you approac...
Some of your possessions are easy to replace. One television is much like t...
The luxury watch market has never been more exciting. From revivalist model...
A luxury watch does more than tell the time. It brings an element of elegan...
Some people have one special watch (like their grandad’s Rolex), and others...
Your partner is unique, special, one-of-a-kind. So your proposal should be ...
We all love sneaking glimpses of celebrity engagement rings on social media...
No one “needs” a watch anymore, and maybe that explains our love of luxury ...
Keep up to date with the latest jewellery trends, insights and inspiration from Q Report.
Yellow gold or white gold? Pear-shaped or oval? Wedding band or no?
Ah, summer - that carefree time of year when sandals rein and the sun keeps...
It’s a panicky situation. Maybe it’s hot outside, and your finger is swolle...
Shopping for a diamond can be intimidating, especially if you haven’t done ...
“It’s an investment.” You might hear this phrase as you shop around for jew...
You’ve inherited a piece of jewellery from a beloved family member. Congrat...
Have you seen the one where the long-haired man hears what his watch is wor...
Just one thing stands between you and marital bliss. You have to propose ma...
Men’s wedding bands can take a beating. Whether you’re fixing a roof or pla...
.svg)
.svg)
.svg)
.svg)
“It’s an investment.” You might hear this phrase as you shop around for jewellery. But most of us don’t plan on buying and selling diamonds the way we might buy and sell stocks. Most people purchase jewellery for the long haul--to serve as a memento or even a family heirloom.
So what is the purpose of a valuation? And if you do choose to resell your diamond jewellery, what can you expect?
When you purchase diamond jewellery, it’s often accompanied by official-looking paperwork. It’s typically signed and dated, and it might even include a photograph or two. Additionally, it probably consists of an appraised value, which may be equivalent to the purchase price but is often more.
This type of valuation provides information about its replacement cost and would assist if it was damaged, lost or stolen.
Keep in mind that jewellery valuations primarily serve to help you know how much insurance you need. They don’t provide information about resale value.
Diamonds indeed retain a portion of their value. Because of their scarcity, diamonds are almost always in demand. The quality and condition of a diamond also impact resale value.
The precious metal in a piece of jewellery also retains a portion of its value, but much of a piece’s worth lies in other factors:
In summary, all of the factors listed above are lost when you resell a diamond. Only the diamond’s intrinsic value is left, and that usually equals about one-third of the original appraised value.
Unless a diamond is very rare, such as a fancy-coloured diamond or signed item of jewellery by a famous brand, it will depreciate. Most people like to buy new pieces of jewellery. The styles are fresh and the gem is unscratched. It’s a thrill to wear a shiny, new diamond.
It’s not so different from purchasing a new car. Part of the price is wrapped up in the dealer’s commission and the marketing of this year’s fleet. When you sell the car a few years from now, it won’t fetch as much as you paid for it, even if you’ve cared for it diligently.
When you understand the diamond market and use information wisely, you can care for your jewellery and then achieve the best prices for it if you choose to sell it.
The retail price you receive from a valuation will help you to know how much insurance you need. If you don’t have a recent assessment, we can help you to evaluate your piece and make sure you have adequate coverage. We also provide free yearly evaluations, so you always know if you have enough cover.
Now that you know the difference between retail and resale, you’re better equipped to make wise purchasing decisions and secure adequate insurance for your favourite diamond jewellery. To learn more about Q Report jewellery insurance, or to get a free online quote, get in touch with us.
Get an instant quote below. Questions, call us anytime on 1300 882 018
Get an instant quote now.
When you first start shopping for an engagement ring, you might feel that y...
Yellow gold or white gold? Pear-shaped or oval? Wedding band or no?
Keep up to date with the latest jewellery trends, insights and inspiration from Q Report.
This has not taken cut, colour, clarity or carat, your financial situation or your partners taste into account. There are many factors that can reduce or increase the value of an engagement ring.
Speak with one of our Q Certified Jewellers to find out what you can afford, what your partner is looking for and what will financially work best for you.
.svg "close (3)"){kind=small}
%20legal%20documents/Q%20report%20Logo%20(1).svg "Q report Logo (1)")
Call us Monday - Friday 9am - 5.30pm AEST
For general enquiries - call +612 9234 0580
Level 10, 61-63 Market Street, Sydney NSW 2000 (mailing address)
%20legal%20documents/instagram%20(3).svg)
%20legal%20documents/youtube%20(3).svg)
%20legal%20documents/twitter%20(10).svg)
%20legal%20documents/facebook%20(7).svg)
%20legal%20documents/google-plus%20(1).svg)
%20legal%20documents/Google%20Rating.svg "Google Rating")