The recent down turn in the stock market is one of the contributing factors that has seen unprecedented rises in the value of precious metals. Silver is now worth about nine times more than it was ten years ago and the price of gold has risen by 50% in the last year alone.In a recent article for BBC news Phillip Diaper the manager of London’s oldest pawnbroker, Sutton & Robertsons commented “The price of gold has run away. A common garden gate bracelet ten years ago would have melted for £65; today it is worth £350.
The knock on effect is that some 6 million householders could be underinsured and claimants could be missing out on full pay-outs.
We recommend that you have your jewellery re-valued every 2-3 years and we can recommend highly reputable valuers to our clients.
At Macbeth we are always happy to provide advice about insuring high value jewellery. See our blog about how to insure jewellery and watches or call Paul Macbeth on 0118 9165480.