Martin Rees, Jeweller and Pawnbroker

Probate Valuation

A relative has died, now you need to divide the jewellery, but how?
If you are settling an estate, this is the valuation you need both to ensure there is a fair distribution among the heirs, and also to prove the estate value for inheritance tax.  So it is often called the Probate Valuation.
Unlike an insurance valuation which indicates the full retail replacement value, this assessment is based on the value of the jewellery if sold.  In other words, how much the items would be likely to fetch at auction, or by selling your jewellery to a shop such as ourselves.   We take into account the worth of the materials, prevailing tastes, and the condition and state of wear of the items.

What we need

Bring the jewellery to us, and explain you need a probate valuation.  Often there are a number of pieces to value, and it does take time, so we may need to keep them for a few days, we will tell you how long we need when you bring the jewellery to us.
If you have found any of the receipts, or any other documentation (e.g. stone certificates) do bring them, as it helps us.  But don't worry if you haven't found them, it usually doesn't have much effect on the value.   Often it is more important to get the estate settled quickly.

Remember if you (or whoever inherits the jewellery) decide to sell, we will need proof of identity.   But we do not need it while we are doing the probate valuation.

We know this is a very distressing time.  We understand the considerable pressure on you, and will handle everything with sympathy, and strive not to cause you any additional problems.

How much does it cost?

Because of the work involved, we do have to make a charge.

Charges are as follows:
£20 one-off handling fee, plus £5 per item.  In the case of low value items we would group them together and just charge £5 per group.
Specialised or particularly high value items would be charged at £10 to £15 per item.
We will give you an exact quote when you bring the items to our shop.

Where the value of the individual items is not that high, many solicitors are happy with one of our standard printed 'value to buy' valuations, in which case we can usually do it the same day, and would not need to make a charge.