New replacement value:
This value reflects the current new replacement price of a similar article of equivalent quality. It does not, however, allow for recreating a handmade facsimile of the original and includes VAT at the rate in force on the date of valuation.
Second-hand replacement value:
This value reflects the current second hand replacement price of a similar article of equivalent quality and in like condition. The value stated makes no pro rata allowance whatsoever for the current cost of individual replacement component parts in the event of a partial loss. Neither does it consider the cost of restoring or recreating the article in question in the event of major accidental damage.
Period Second-hand replacement value:
This value reflects the likely replacement price of a similar item of and age in like condition.
Antique replacement value:
This value should enable the owner to obtain a similar antique replacement article of equivalent quality and in like condition.
This value reflects the likely current replacement price of recreating a handmade facsimile of the original utilising the same quality materials and employing first class craftsmanship.
This value is normally applied to rare and unusual articles including signed antique pieces all of which would be exceedingly difficult or even impossible to replace and the value stated should adequately enable the owner to obtain a different but not better article to compensate for the loss.
The values given represent open market figures likely to be realised by sale of the goods at the date of death; such values reflect the condition of goods at the stated date. This valuation satisfies the requirements of Section 160 of the inheritance Taxes Act 1984.
As above: The values given represent open market figures likely to be realised by sale of the goods at the date specified; such values reflect the condition these goods were in at the stated date, this type is often used for a divorce settlement situation.
Offer to buy:
If an item is wanting to be sold, an offer to buy is used. Christopher Stoner Fine Jewellery is unable to offer this service to items not wishing to be purchased by ourselves.
It is recommended that valuations are updated every three to five years, when all items will again be thoroughly checked, and all relevant details confirmed. This update of values may be charged at a reduced fee if the original schedule is produced.
Clients are warned that changing values do not necessarily correspond to the prevailing rate of inflation, and the practice of merely index linking such values can often prove to be inaccurate and misleading.