- September 25, 2020
- Posted by: tom
- Category: Collections
Sporting memorabilia, jewellery, watches, books and other collectables all have considerable sentimental value to the owner, but often hold significant monetary value as well. Professional valuations for collectables are an essential, Here’s why:
If you are looking to have your collectables insured then you will need to know their value. Often these goods do not come under a standard household policy so they will need to be insured separately.
You may want to sell them. If you look to sell these goods on then you will need to know their worth to maximise the profit you make on them.
From bespoke designer dresses and extensive shoe collections to suits, luggage and designer handbags, high net worth individuals can have wardrobes worth upwards of £40,000 for women and £35,000 for men. With these items more likely to be damaged when worn, they need to be valuated so they are not underinsured.
The worth of valuables such as jewellery fluctuates a lot with changes in the market. For example, gold has been at its highest price for many years. If you have not had jewellery valuated in some years then it is likely to be underinsured.