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Watch Valuations for Insurance

Online Watch Valuation for insurance

When it comes to watch valuations for insurance, having accurate and up-to-date valuations will be hugely beneficial and in most cases outweigh the cost of having your watch valued in the first place. At GWS we provide a free professional valuation with every watch sold, and we also provide a valuation service for watches not purchased directly from us. You can arrange a straightforward valuation appointment by filling out the form here, but we'd also recommend you familiarise yourself with the information below. This will help you understand why it's important to have an expert undertake an accurate appraisal of your watch, and how this can save you money over the long term.



What is a Watch Valuation?

Watch valuations are assessments of the current market value of your timepiece. These valuations will take into account factors such as the brand, model, age, and condition of the watch, and importantly, the latest market conditions and trends. It is essential to keep in mind that the value of a watch is not always reflected by its purchase price, as this can be significantly less than the current market value. Therefore, it is essential to get an accurate watch valuation to enable your watch insurance to provide the correct coverage from your watch insurance provider, and also that the correct premium is being charged.

Why Do You Need a Watch Valuation for Insurance?

Watch valuations are important for watch insurance cover because they determine the value your insurance company will attribute to your watch if your timepiece is lost, stolen or damaged. Without a proper valuation, you risk undervaluing, which can result in a payout that is far less than what the watch is worth, or overvaluing your watch forcing you to pay excessive, and unnecessary insurance costs. In addition, some insurance companies may require a watch valuation before providing coverage, so it is important to check with your insurer about their requirements to make sure your treasured possessions are fully protected at all times.

Accurate Watch Assessment

Having an expert provide a valuation of your watch should always be a priority. The importance of accuracy of the valuation can literally be worth thousands of pounds in the event of a claim. An expert valuer will take account of the following factors to help determine the value you should insure for to provide optimum cover: -


The first stage in any valuation is to determine the authenticity of the watch in question. The high value of genuine brands like Rolex, Audemars Piguet and Patek Philippe inevitably leads to counterfeit alternatives being produced. Watch valuations will see experts examine the distinguishing features of a watch to establish its authenticity, before going on to assess the value of the item.


Provenance is denied as being a record of ownership, which will help the valuer not only establish authenticity but underpin the overall value of the watch. Items like original purchases receipt, and subsequent private sale documents if the watch is preowned as well as service records or maintenance receipts all help paint the picture of the watch's history and back story. Copies of these should be provided at the time of assessment.

Condition & Maintenance

A watch that has been kept in good overall condition, and has been maintained in line with its needs over its lifespan will inevitably lead to a higher valuation. A full description of any service centre visit or maintenance work that your watch has undergone will help support this.

Market Conditions & Trends

To understand the current, and future value of a genuine luxury Swiss watch it is important to have a deep level of expertise in both current and future market trends, as well as the potential triggers for price volatility. Over many years we've seen the main luxury watch brands' prices steadily increase but in the last 2 years this has been subject to much higher levels of price fluctuations, leading many customers to either be underinsured (potentially losing thousands in the event of a claim) or being overinsured and pay far too much for their watch insurance cover. A specialist in the luxury watch market will generally be much more in tune with these factors than local jewellers specialising predominately in jewellery insurance.

Who can value a watch for insurance?

It's important to check with your insurance provider for their requirements before committing to a provider for valuation, as ultimately they will accept or reject a valuation based on their own policy. Once you have established that your chosen supplier meets the needs of your insurers then it's for you to choose a supplier that will give you the most accurate assessment of your special piece. We would always recommend you undertake some due diligence on your valuer to ascertain their credentials as ultimately, it's their expertise that will you can protect your watch by ensuring it is covered at the correct rate. At GWS our reputation is strong across the entire industry. Not only are we the point of contact for several members of the National Association of Jewellers, but we have also been asked to provide expertise to the national conference of registered valuers on several occasions.

How is the value of my watch determined for insurance purposes?

Our watch valuations are always undertaken on the basis of 'second-hand replacement value (SHRV) and an SHRV schedule is provided as an outcome of the assessment.

In insurance terms, second-hand replacement value refers to the cost of replacing an item with an equivalent item of approximately the same age, condition, and quality if purchased second hand This means that the valuation is based on the current value of the item. On the other hand, 'new replacement value' refers to the cost of replacing an item with a brand new one of the same make and model. This means that the valuation is based on the current retail price of the item.

Traditionally the main difference between the two has been that second-hand value takes into account the depreciation of the item, while new value does not. However, when we look at luxury Swiss watches from the main powerhouse brands, second-hand watches tend to appreciate rather than depreciate, so to be able to ensure you are able to replace your watch in the event it is lost or stolen, second-hand replacement value is used to establish a fair market valuation.

What Should a Watch Valuation Service Include?

Watch valuations should include the following details: -

- Brand
- model name & description
- model number
- serial number
- the estimated value of your timepiece.

The appraiser should provide you with a written valuation report that outlines all of these details, along with the basis of assessment (second hand, or new replacement value). It is important to keep this report in a safe place along with your watch, as it serves as proof of ownership and value. At GWS we're happy to provide both a paper and an electronic copy to our customers, which we keep on file should you ever need a copy to support your watch insurance cover.

How to Get a Watch Valuation For A Rolex & Co.?

You can get watch valuations from a reputable appraiser or dealer who specialises in luxury timepieces. These experts have the necessary knowledge and experience to accurately appraise your watch and provide you with a certificate of valuation. We recommend that you get a valuation every year, as the value of your watches may fluctuate depending on the market demand and conditions. To book an appointment to get your watch valued or alternatively to discuss any aspect of watch valuations please complete the contact form below, and we'd be happy to assist.



Summary - Watch Valuation For Insurance

Valuations for insurance are an important part of watch ownership. By understanding the process of a watch valuation service and why it is necessary to obtain a professional valuation for insurance purposes, you can ensure that you receive the proper watch insurance coverage for your valuable timepieces. Remember to use a reputable appraiser or dealer and enquire every year to see if the valuation requires updating. With these steps, you can have peace of mind knowing that your timepiece is properly valued and protected, helping ensure your watch is not just enjoyed by yourself but can become a family heirloom for future generations.

There are differeing requirements between different insurance companies when looking at watch insurance. Although a GWS SHRV valuation satisfies the requirements of the majority of UK insurers it may be possible that some may not accept it in it's current form. If you are purchasing a valuation to support an insurance policy, please ensure that your insurance company requirements are met. A sample can be provided on requests and minor adjustments can be made to accomodate this where possible. Please do not purchase this vlauation until you are sure it mets the reuirements of your insurance company.
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