Ring value?

I was filling a bit more of the form out for BR yesterday and it asked for any valuable jewellry to be listed, I have a ring that was 1900 new but I've been wearing it for nearly a year, where can I take it to be valued? Will a second hand jewellers do it? Or is that not seen as accurate enough? 

Thanks in advance 


Preparing to go bankrupt April 2020
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  • luvchocolateluvchocolate Forumite
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    That's a tough one..they usually look to take single items of £1000 or more your ring may have increased in value. 
    People have given up engagement rings which is very sad. 
  • edited 5 May 2020 at 9:45AM
    Willing2LearnWilling2Learn Forumite
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    edited 5 May 2020 at 9:45AM
    How would the OR discover your 'little white lie'?  That is what I want to know!!

    (Just to add that deceiving the OR is a criminal offence!!)
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • edited 5 May 2020 at 9:53AM
    SilvertabbySilvertabby Forumite
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    edited 5 May 2020 at 9:53AM
    There's a big difference in 'insurance' value and 'sale' value of second hand jewellery.  In the case of the former, it's more like the cost of a similar replacement.  In the latter, it's normally just the scrap value of the gold/gemstone.

    Perhaps take the ring to a couple of jewellers and ask how much they would give you for it?


  • mwarbymwarby Forumite
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    How would the OR discover your 'little white lie'?  That is what I want to know!!

    (Just to add that deceiving the OR is a criminal offence!!)
    If OP purchased for herself there will likely be a transaction on a bank or card statement, that the OR can see (they can ask you, or ask the bank)
  • PotbellypigPotbellypig Forumite
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    mwarby said:
    How would the OR discover your 'little white lie'?  That is what I want to know!!

    (Just to add that deceiving the OR is a criminal offence!!)
    If OP purchased for herself there will likely be a transaction on a bank or card statement, that the OR can see (they can ask you, or ask the bank)
    ''I lost it'' ;) 
  • SilvertabbySilvertabby Forumite
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    mwarby said:
    How would the OR discover your 'little white lie'?  That is what I want to know!!

    (Just to add that deceiving the OR is a criminal offence!!)
    If OP purchased for herself there will likely be a transaction on a bank or card statement, that the OR can see (they can ask you, or ask the bank)
    But if the OR wants the ring to be sold then how much OP paid for it is irrelevant.  It's how much it would fetch as scrap value - and that will almost certainly be considerably less than the original cost.

  • luvchocolateluvchocolate Forumite
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    I think the post about proof of purchase was in reply to the possibility of the ring being *lost *
  • Willing2LearnWilling2Learn Forumite
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    Sorry about that.  It was my fault that the 'lost' sentiment came about.  I cannot help.  I am a cockney rebel mate and it's how we live in the ghetto...
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • Minkym00Minkym00 Forumite
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    The OR will want it independently valued and will ask their agents to do this. 

    Not sure why there is talk of ‘scrap value’ on a piece of jewellery. It’s not like it loses value like a mechanical item does. 
  • Willing2LearnWilling2Learn Forumite
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    Minkym00 said:
    The OR will want it independently valued and will ask their agents to do this. 

    Not sure why there is talk of ‘scrap value’ on a piece of jewellery. It’s not like it loses value like a mechanical item does. 
    Sorry Minkym00

    That was my fault.  Apologies. 
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
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