Receipts, Certificates of Purchase & Valuations

By James Hanlon 18 Feb 2020

18ct White Gold 4 Claw Diamond Solitaire Ring


Receipt [Noun] A written or printed statement acknowledging that something has been paid for or that goods have been received.

Certificate [Noun] A document attesting ownership of an item or the fulfilment of legal requirements.

Valuation [Noun] An estimation of the worth of something, especially one carried out by a professional valuer.

Many jewellers’ receipts provide little more description than ‘9ct Diamond Ring, TDW=1.00ct’ and a price paid. This may be used to make a return or exchange (depending on individual store policies) or in the instance of a warranty claim to show the jeweller that it was obtained from them in a legal fashion and on a particular date. It may also be used to establish ownership in the instance of an insurance claim, but often lacks the detail for the item to be assessed accurately.

Jewellers may offer a certificate of purchase, which provides a more detailed description of the item, but may be generic to a whole group of the same item and may have been written by a staff member or supplier based on the details of ordered stock. This may possibly be used in the instance of a warranty claim to show the jeweller that it was obtained from them in a legal fashion and on a particular date. A Certificate of Purchase may also be used to establish ownership in the instance of an insurance claim and may possibly contain information about the items that is not found in the receipt, such as a diamond grading, a breakdown of stone sizes or the weight of the item. 

A valuation certificate is conducted by a registered jewellery valuer. They are a qualified gemmologist who have many years of experience within the jewellery industry and in many cases are jewellers themselves. They have an appreciation for the labour that goes into the jewellery making process and can identify if an item has been handmade or cast, determine the type and quality of the metal or stones and can calculate a market value based on current commodity prices, exchange rates and market influences. They then prepare a summary of their findings in the form of a certificate, complete with their name and qualifications, which is in turn stamped with their official registration number. Valuations are not considered proof of purchase for warranty or exchange purposes, however it can be used to establish ownership in the instance of an insurance claim and should contain all the information about the items including metal type and quality, stone sizes and grading, the dimensions and weight, as well as a photograph of the item, value at the time of inspection and the market conditions in which it was calculated. 

 

Receipt (n.d.). In Oxford English dictionary. Retrieved from https://en.oxforddictionaries.com/definition/receipt

Certificate (n.d.). In Oxford English dictionary. Retrieved from https://en.oxforddictionaries.com/definition/certificate

Valuation (n.d.). In Oxford English dictionary. Retrieved from https://en.oxforddictionaries.com/definition/valuation

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