Engagement Rings - Valuations

2nd October 2011

Further to our article 7th September regarding rising jewellery prices; Chubb Insurance Co have revealed some interesting statistics regarding value of personal jewellery:

For more information please visit our High Value Home Insurance page or please call our Private Client Team on 0113 258 5711

  • At least 50% of engagement rings in the UK have not been valued since their purchase
  • 40% of all ring valuations were over two years old
  • 15% of ring valuations were over 20 years old.

This suggests that, in addition to the sentimental impact, most owners would be significantly out of pocket should a loss occur.

Platinum has overtaken Gold as the favoured metal for engagement and wedding rings - the price of platinum has increased by 150% since March 2006.  Analysts predict a further 12% rise in 2011.

If anyone is lucky enough to have a 5 carat top grade brilliant cut diamond then a retail value of £270,000 in 2005 will have increased to £600,000 in 2010, if you only have a 3 carat middle grade diamond then your £80,000 in 2005 will now be £110,000!

Chubb also report that the replacement values of premium brand watches continues to rise steadily.

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