Jewellery valuation for probate

DoogsterDoogster

Hi all

I've inherited some jewellery from my mum, but need to get it valued for probate.  Alot of it is of no value (though lovely) - some given to her by me for Christmas/Birthday etc.  But there is her engagement ring and a couple of things she inherited from my grandmother that are probably of some value.

My questions:
1. Presumably I can make an estimate of the cheaper pieces for probate?
2. What's the best way to get the more expensive pieces valued?  It seems very expensive - £65 per piece and I'm not sure how much ultimately they will be worth.  I've found various online places or other suggestions seem to be to take it to an antique shop or quality jewellers.  I definitely would expect to pay for their expertise, but as I have little knowledge, I may be spending the cost of each item by getting a valuation...
3. Would HMRC expect a proper valuation certificate?

Any advice gratefully received!

Thanks

Keep_pedalling

I would just put a nominal value on all of her chattels. No one will check on them unless you have something truly very valuable that you plan to sell off.

Rodders53

This really depends on whether the Estate is (anywhere near) having to pay Inheritance Tax...

If no IHT will be due some random guesswork will be fine. 

Bear in mind that much jewellery could end up being sold for scrap metal value even with gem stones in.  Ask a few local Jewellery shops how much they'd buy some stuff for if you want to be more accurate.

Paid for valuations are typically for Valuables Insurance purposes only.

The same goes for much other chattels if well inside the IHT nil rate band.

I did a big spreadsheet of items for the late M-i-L and (with hindsight) grossly overestimated the value of much, if not all, of it. Well under the total IHT nil rate band so of no consequence in practice.

Grumpelstiltskin

Take the pieces you think may have some value to a local jeweller who advertises they buy gold, just tell them you are thinking of selling and what would they offer you, don't say it's for probate, See what they say.

Chances are it won't be worth much.

silvercar

Did she have house insurance? Most insurers require that valuable items are individually named and a value attributed to them.

JGB1955

Valuation for replacement is far higher than valuation for probate.  I took the line that my mother had disposed of her jewellery several years before her death.  Her personal and household possessions were valued at £500.

Marcon

I've used this site several times and found the responses full, quick and helpful: https://www.valuemystuff.com/uk

DoogsterDoogster

Thanks everyone - very helpful.