Tag: valuation

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How accurate are jewellery valuations?

AcuVal jewellery valuations

The accuracy of jewellery valuations can vary depending on several factors. Here are some key points to consider:

  1. Appraiser’s expertise: The accuracy of a jewellery valuation depends on the competence and experience of the appraiser. A certified gemologist or a professional jewellery appraiser with relevant credentials is more likely to provide a precise and reliable valuation.
  2. Purpose of the valuation: The purpose of the valuation matters. If the valuation is for insurance coverage, it may be higher to ensure full replacement in case of loss or theft. If it’s for resale, the value may be lower as it accounts for market conditions and potential profit margins for a buyer.
  3. Quality of the jewellery: The quality of the jewellery, including the materials, gemstones, craftsmanship, and overall design, plays a significant role in its valuation. High-quality materials and precious gemstones will generally have higher values.
  4. Market conditions: The fluctuating prices of precious metals and gemstones can impact the accuracy of a jewellery valuation. Market conditions change over time, so a valuation today might not hold the same value in the future.
  5. Certification and documentation: Having proper documentation and certifications for gemstones and metals enhances the accuracy of the valuation. This information helps appraisers make more precise assessments.
  6. Appraisal method: There are different methods for valuing jewellery, such as comparison with similar pieces, the cost to replace, or the intrinsic value of materials. Each method has its advantages and limitations.
  7. Local market differences: Valuations can vary across different regions due to variations in consumer preferences and market demands.

It’s important to note that a jewellery appraisal is an expert’s opinion based on their evaluation of the item at a particular point in time. The value assigned to the jewellery may change over time due to various factors, including market fluctuations, changes in demand, or updates in gemstone grading techniques.

AcuVal Adds the consistency of repeatable outcome, this give you a credible and trusted valuation.

 

 

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The world’s largest office building is filled with diamonds

India’s diamond city

A new office building in India’s diamond city Surat in Gujarat, where 90% of the world’s diamonds are manufactured has surpassed the Pentagon as the largest structure of the kind.

Built over 7.1 million square feet of floor space, the Surat Diamond Bourse (SDB) has a big leg up on the 6.5 million square feet headquarters building of the US department of defense in Arlington, Virginia. The Pentagon was the world’s largest building for 80 years before it got dethroned.

The 15-story structure, featuring a succession of nine rectangular structures spilling out from a central “spine,” cost a whopping 32-billion-rupee ($388 million) to develop and build.

Indian architecture firm Morphogenesis stopped and started construction over four years because over pandemic-related delays. The building is finally due to open its doors in November 2023, with prime minister Narendra Modi due to inaugurate it.

Quotable: Narendra Modi lauds Surat Diamond Bourse
“Surat Diamond Bourse showcases the dynamism and growth of Surat’s diamond industry. It is also a testament to India’s entrepreneurial spirit. It will serve as a hub for trade, innovation and collaboration, further boosting our economy and creating employment opportunities.” Prime minister Narendra Modi, who was Gujarat’s chief minister from 2001 to 2014, quote-tweeted a video of the Surat premises yesterday.

Working in the Surat Diamond Bourse, by the digits 4,700 office spaces: Office spaces in the Surat Diamond Bourse, which can also double up as small workshops for cutting and polishing diamonds. The offices were all purchased by diamond companies prior to construction, project CEO Mahesh Gadhavi.

65,000: Diamond professionals, including cutters, polishers and traders, that can work on the premises at a given time. Besides offices, the workers also have access to dining, retail, wellness and conference facilities

9: Number of 1.5-acre courtyards with seating and water features that can serve as casual meeting places for traders

131: Number of elevators on the premises

7 minutes: The maximum amount of time it takes to reach any office from any of the building’s entry gates, according to Sonali Rastogi, co-founder of the Indian architecture firm Morphogenesis that designed the behemoth building. In a democratic move, the offices were assigned to business via a lottery system

3 times: How much bigger SDB is compared its counterpart in Mumbai, Bharat Diamond Burse (BDB)

400: The small number of merchants that were willing to move in during the touted November 2022 opening, which led to the opening being postponed. Mumbai’s Palanpuri diamantaires are staying put because they do not want to incur establishment cost, transport cost, and take on overheads of maintenance when the trading business is struggling.

Source: qz.com