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7 reasons you need a valuation for your collectibles

young woman in an art gallery

Whether you’ve inherited a few pieces of jewellery, are starting to collect sports memorabilia, or have invested in wine or fine art over the years, your collectibles are a part of your history and your story. They may even be worth a substantial amount of money. Here’s why you need to value your collectibles to ensure they are protected for generations to come:


  1. Valuations are needed for insurance policies

    If you’re looking to take out collectibles insurance, you’ll need to know how much they’re worth. Keep in mind that most homeowner’s policies will provide limited coverage for valuables. To fully protect your collectibles, you may need a separate valuables policy.

  2. Professional appraisals can help sell items on

    If you’re looking to sell your valuables, you’ll need to know how much to charge, and potential buyers will probably want to know the process by which the item’s value was determined. A professional appraisal is the way to go for valuing items.

  3. To calculate capital gains tax on inherited items

    If you inherited collectibles, you will need to have them appraised for the “date-of-death” value. You’ll need this value to calculate capital gains taxes later if you decide to sell the collectibles.

  1. It ensures potentially valuable clothing collections are never overlooked

    When looking to value collectibles, wardrobes tend to be routinely overlooked, despite regularly containing highly valuable clothing collections. 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. For people with a dedicated interest in clothing, these figures can increase significantly.

    If you are looking to value your clothes then talk to Chubb who can assist you in finding the right expert, for an honest valuation. 

  2. Do not use an expert who would be looking to buy your items

    When valuing items, find an expert who doesn’t have an active interest in purchasing your items. A good place to start is to select a valuer that is a member of the National Association of Jewellers. The NAJ is the UK’s leading jewellery trade association. Every NAJ member abides by the NAJ’s Code of Conduct, based on honesty, integrity and professionalism. The Institute of Registered Valuers is part of the NAJ family, comprising around 150 professional valuers with formal qualifications and substantial experience.

  1. Remember that any collection can vary in price depending on the market

    Collections can fluctuate in value based upon the market. The price of gold, for example, has been steadily increasing over the last few decades meaning vintage pieces in your collection may now be significantly more valuable today than at any point previously.

  2. There are several different types of valuation, so choose wisely

    Different types of valuation may assign the same item with different prices. Fair market value, for example, is the price at which an item would change hands between a willing buyer and a willing seller. Retail replacement value is the highest amount that would be required to replace a piece with another of similar age, quality, and condition. When looking to take out collectibles insurance, this valuation is typically used.

    Chubb – expert insurers of your most valued possessions.


All content in this material is for general information purposes only. It does not constitute personal advice or a recommendation to any individual or business of any product or service. Please refer to the policy documentation issued for full terms and conditions of coverage.

For more information on Chubb in the UK click here

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