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Value of item now

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  • 25-06-2008 11:48am
    #1
    Cinamon Girl
    Closed Accounts Posts: 51 ✭✭


    Hi,
    I bought a ring in Switzerland in 1991 for 640 Swiss Francs. I have since lost this ring and would like to claim for it on my house insurance. Can anyone tell me how I would find out what the equivalent of 640 Swiss Francs would be in todays money. I'm not looking for a direct currency conversion, I can work that out. But bearing in mind inflation and the increase in the value of money over time what would it cost to buy the same ring now?
    Any help would be greatly appreciated.


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    #2
    craichoe
    Closed Accounts Posts: 2,706 ✭✭✭craichoe


    Cinamon Girl wrote: »
    Hi,
    I bought a ring in Switzerland in 1991 for 640 Swiss Francs. I have since lost this ring and would like to claim for it on my house insurance. Can anyone tell me how I would find out what the equivalent of 640 Swiss Francs would be in todays money. I'm not looking for a direct currency conversion, I can work that out. But bearing in mind inflation and the increase in the value of money over time what would it cost to buy the same ring now?
    Any help would be greatly appreciated.

    Hi Cinamon girl,

    AFAIK Insurance company will only go off a valuation and not off a guess of inflation or currency conversion.

    Failing that an original receipt for the product purchased.


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    #3
    jor el
    Closed Accounts Posts: 16,713 ✭✭✭✭jor el


    I think you'd be best to go into a jeweler and ask for a quote for a ring on very similar (or exact same) properties now. If you know the carat, size, of diamond (if there was one) and what the ring was made of (gold, silver, platinum, etc) then they should be able to value it, roughly.

    The insurer might want more than this, such as a recent valuation of the actual ring.


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    #4
    ruprect
    Closed Accounts Posts: 630 ✭✭✭ruprect


    If you have the weight carat size description etc of the ring you could ask a jewellers here for a quote. Dunno if they do value direct to currency, I would have thought it would be its current value.

    e.g. if my house was burgaled and they stole my 13 year old £1,500 gateway 2000 pentium 1 PC, I doubt they would add interest etc and refund me €3,000!

    AFAIK Gold has gone up a lot over the years, in your case it might be the reverse, i.e. they owe you more.


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    #5
    MysticalSoul
    Registered Users Posts: 1,266 ✭✭✭MysticalSoul


    AFAIK that unless you have a Cert of Valuation, the insurance company would not repay for such an item.


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    #6
    mcaul
    Closed Accounts Posts: 1,493 ✭✭✭mcaul


    ruprect wrote: »
    if my house was burgaled and they stole my 13 year old £1,500 gateway 2000 pentium 1 PC, I doubt they would add interest etc and refund me €3,000! QUOTE]

    That's an antique - surely its worth more than that!:D

    As to valuation - original cost was about €380 so it wouln't be at the very precious end of the scale. As above go to jeweler and ask for quote for something similar. My guess would be region €600 - €700.


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