What's your jewellery box worth?

All About You online 06.03.2008

What you might think of as knick-knacks handed over by granny could turn out to be a nice nest egg – but what should you look for? By Lindsay Rogerson

PIle of diamante jewellery Anyone who has been left jewellery by their grandmother could well be in for a pleasant surprise, as Victorian-era rings, brooches and necklaces are undergoing something of a revival right now. Indeed digging out long-forgotten gems from the bottom of a jewellery box could pay handsomely.

Charles Dupplin, head of art and private clients at insurer Hiscox explains: 'Cairngorms are incredibly popular right now. I think there has been quite a bit of a revival recently, which you can see from some of the jewellery auctions. The rather nice thing about the Victorians was that they liked coloured stones which are entertaining to look at and, funnily enough, very popular just now with the Russians. So such pieces are very fashionable and, accordingly, people might find that granny's jewellery has become worth considerably more in recent times.'

His view is supported by the prices achieved at recent jewellery sales at the South Kensington auction rooms of Christies. Keith Penton, director of the jewellery department at the South Kensington branch, confirms: 'Examples of Victorian jewellery which display strong design, exceptional workmanship and good-quality stones continue to perform well at auction - interesting provenance is also a great attraction for buyers and collectors.'

By provenance, Penton means that the history of a item of jewellery can greatly add to its value. In the case of the turquoise, coral and pearl brooch sold earlier this month, it was the fact that it had been given to the actress Lily Hanbury by Queen Victoria herself, which helped it achieve a sale price more than four times its reserve when it sold for £5,040.

What is it worth?
Finding out what interesting items are worth need not cost a fortune. Dupplin recommends browsing internet auction site eBay. He explains: 'If you want to know how much and you don't want to spend any money, my first tip would be to have a scoot around on eBay. eBay is quite the perfect market now - there are not many bargains and you get a reasonable indication, at the lower end, of what things might be worth.' Wooden jewellery box with jewellery showing in open drawers

Those checking out eBay need to be careful that the pieces are genuine Victorian era and not reproductions. Warning bells should sound for items listed as 'Victorian design', 'Victorian inspired' or 'Victorian style'. Next Dupplin recommends taking any interesting pieces to an auction house. He says that both Christies and Sotheby's are well used to people popping in with items they wish to have valued. The auction houses are usually happy to value items free of charge, because they assume that should the owner go on to sell them, they will make back the cost of valuation with fees at auction. However, there is no onus on the owner to place the items for sale.

Also most high-street jewellers offer a jewellery valuation service. They will typically charge either an hourly fee or a percentage of the total value of the items being assessed. It is best to shop around for a few quotes or ask friends or an insurance company to recommend a valuer. Hiscox does not recommend simply picking someone out of the phone book. Adrian Smith, valuer and appraiser, charges a set-up fee of £30 and £20 to £35 per item when valuing for insurance purposes, and £30 plus £65 per hour when valuing pieces for sale.

Updating insurance
Even if a sale is not on the cards, because fashion has led to a rapid appreciation in value, women relying on their home contents insurance policy to protect such items need to check the small print very carefully. While the vast majority of policies will cover jewellery, the totals for what will be covered can be very low. Single item limits on some policies can be as low as £1,000, while the overall limit for jewellery on policies can be just a few thousand pounds. Most insurers will be happy to increase limits in return for a small increase in monthly premium. It is also worth checking the terms on which items will be replaced in the event of damage or burglary. Some insurers simply issue vouchers for a high street jeweller's - hardly appropriate when replacing Victorian era pieces, so it is important to check if heartbreak is to be avoided down the line.