I have a client who has just had his jewellery re-valued - was last done 2007.

The increases in values are frightening. Plain gold items, with the drop in the Rand and the rise in the Gold Price have gone up between 300% and 500%! Diamond jewellery has gone up by a smaller degree - around 300% tops - as the diamond increase is less than gold - and so the increase largely depends on the amount of gold in the item.

One plain gold wedding band which was R2,800 seven years ago is now nearly R15,000 to replace.

if you claim under your insurance for lost items, you need to produce a valuation for jewellery and watches to prove your loss. If your valuation is out of date, you will not be in a position to replace the item on a like for like basis. I know NO insurer who will accept an "updated" valuation after the loss, based on an update of an out of date valuation certificate.

A lot of my clients use a qualified Gemmologist we recommend to value their jewellery. The beauty of this guy is he values the items at your home, so there is no exposure to transit theft or having stones "swapped out".

He also charges a flat fee per hour, unlike a lot of jewellers who charge a percentage of the valuation. This gives them an incentive to over-value, as doing that increases their income too.

He only works in Joburg region, though ....