The Importance of Re-valuation

The Importance of Re-valuation

  Howard Carter at jeweller Cellini explains the importance of re-valuation

 Now we’ve got your attention, please do not be alarmed – we’re not going to involve ourselves in the debate over which of the numerous companies that have sprung up in the last 5/6 years or so, are honest traders.  However, there’s an underlying reason why these companies are all competing madly to acquire your scrap gold, platinum and silver.

Consider the recent market prices per troy ounce of precious metals: -

 

Gold

Platinum

Silver

January 2006

£309

£580

£5

January 2008

£463

£798

£8.25

January 2010

£695

£933

£11.35

January 2012

£1,070

£986

£19.34

 

This unprecedented rise in precious metal prices, together with a significant increase in the prices of fine gemstones/diamonds, is primarily due to the current lack of global confidence in world currencies/stock markets. Many investors are turning to these tangible commodities as an alternative source for attractive returns.

These factors have impacted significantly upon current prices – leaving many people underinsured and unaware that they’d be unable to replace their jewellery and silverware for the sums currently specified in their policies. 

 Examples:

 

18ct two colour gold    3 ounce bracelet

2.50ct diamond solitaire ring in platinum

Pr 4x stone 6.00ct diamond ear-pendants

January 2006

£5,000

£45,000

£65,000

January 2008

£7,500

£48,000

£70,000

January 2010

£11,500

£60,000

£90,000

January 2012

£17,000

£82,000

£115,000

 

Are you underinsured?

As can be clearly seen, jewellery values rarely reflect the prevailing rate of inflation and we would, therefore, urge all our clients to consider a re-valuation of their jewellery and silverware collections.  We can recommend registered valuers who can offer home visits and who don’t charge on a percentage fee of the value.

 Email me for more information or drop me a line on 01223 200652.

Matthew Mullee

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“The few claims that I have had to make have been dealt with in a very prompt and professional manner - thank you!”

Phil B, Private Client

 

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About La Playa Private Client

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La Playa Private Client creates a safe space for you to live life to the full, enjoying your family, friends, and assets wherever you are in the world - without worry or hassle.

We can make sense of all your insurance needs - property, yachts and superyachts, high-performance and classic cars, private jets, art, wine and jewellery collections – and your liabilities too. We can pull multiple assets together on a single “portfolio” policy – or if you prefer, take care of each item separately. 

Amid the impersonal and automated world of large insurance corporations, La Playa provides a refreshingly boutique-style service, with individual advice, and cover based on in-depth understanding of your specific situation. After a detailed and confidential review of your needs and priorities, we’ll structure your insurance arrangements so you know you and your family are protected, come what may.  

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Matthew Mullee

CO-FOUNDER

Direct Dial: +44 (0) 1223 200652

Mobile: +44 (0) 7808 329556

Email: matt.mullee@laplayainsurance.com

Twitter: @MattMLaPlaya