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JEWELLERY VALUATION :

 

 

 

 

Who is a Valuer?

The one who estimates or assesses the value professionally. He is an expert in his field. He is authorized to declare the worth of a particular commodity, may be it property/machine/gold or any other item. The license to act is issued by Chief Commissioner of Income Tax. The main categories under which the license is issued are:

  • Immovable Properties
  • Agricultural Lands
  • Plantations-Coffee, Tea, Rubber, Cardamom and others.
  • Forests
  • Mines & Queries
  • Stocks, Shares, Debentures and Securities
  • Plant and Machinery
  • Jewellery
  • Works of Arts
  • Life interest, reversion and interest in expectancy

VOC is operated by P.K. Pakhawala, a professional Jewellery Valuer offers a truly Valuation quick service.

  • Swift and professional valuations for all purposes
  • work carried out at voc office, your home/business or through Jewellers who provide VOC service

All Valuations are presented as a quality package containing extensive detail and include photographs (if demand by assessee).

Reports can be provided for a variety of purposes, including: post-loss Assessment, Wealth –Tax purpose, Insurance purpose, Gift-tax purpose, Arbitration purpose,etc.

Some times a formal report is not required we realize that, on occasions, clients just require a bit of friendly advice or guidance. Examples include: how best to dispose of somer unwanted jewellery or ona more formal footing, advice in a pre-litigation scenario.

Each consultancy is charged on an-individual basis,depending on the complexity of the assignment and the likely time input. The minimum consultancy fee is Rs. 250 A free quotation is offered on request.

Proformas aproved by the ministry of finance (Government of India), for the preparation of valuations for different assests are as specified in the table below:-
Note :- Valuers shall adopt the following Proformas, while preparing their Valuation Reports.


table
(viii) Jewellery.... Form O-8

Form O-8


Report of valuation of jewellery


Note : All questions to be answered by the valuer. If any particular question does not apply to the asset under valuation, he may indicate so. If the space provided is not sufficient, details may be attached on separate sheets.

  • Purpose for which valuation is made.
  • Date as on which valuation is made.
  • Name of owner(s) of the jewellery.
  • If the asset is under joint ownership/co-ownership, share of each owner.
  • Description of each item of jewellery.
  • Total gross weight of each item of jewellery.
  • Net weight of precious metal such as gold, silver, platinum, etc., in each item of jewellery.
  • Description of each precious or semi-precious stone whether or not set in any ornament wearing apparel, etc.
  • Weight of each such precious or semi-precious stone in carats.
  • Value of each precious or semi-precious stone and the total value of all such stones.
  • Value of the precious metal content in all the items of jewellery.
  • Total value of the jewellery. (The valuer should discuss the special features, if any, of the jewellery, such
        as, its antique value, aesthetic value, etc.)
  • I hereby declare that–
    • The information furnished above is true and correct to the best of my knowledge and belief;
    • I have no direct or indirect interest in the jewellery valued;
    • I have personally inspected the jewellery;
    • I have not been convicted of any offence and sentenced to the term of imprisonment.
      or
      I have been convicted of an offence and sentenced to a term of imprisonment for a period of ................(particulars of offence and sentence attached) and
    • I have not been found guilty of misconduct in my professional capacity.
      or
      I have been found guilty of misconduct in my professional capacity (particulars attached).

Date................


Place.............. Signature of Valuer

 

Jewellery Valuation

Highly skilled experts providing accurate assessments of all types of jewellery, essential when claiming insurance for lost, stolen or damaged.

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