A new jewellery valuation service has just been launched here by a British company, Jewellers On-Line, which aims to bring down the cost of insurance premiums and provide owners with more reliable protection. A Ballinasloe jeweller, Cahalans, is the first to join the service which is expected to be widespread by the end of the year. Known as On-line Appraiser, the system, which was jointly developed by IBM and Jewellers On-Line, provides an accurate valuation of the jewellery piece using common global standards and a high quality digital identification photograph of the item. This information is then stored in the IBM secure database, minus the customer details which are kept by the retail jeweller. Copies of the valuation and photograph are made available to the customer and insurance company, cutting down on any opportunity for dispute in the event of an insurance claim. The information is also expected to be shared electronically with the Garda to help trace lost or stolen jewellery.

On-Line Appraiser, which is used by over 700 participating jewellers in Britain, is regulated by the National Association of Goldsmiths and will only accept valuations on the system from NAG-registered valuers. The service costs an initial fee of £25 (slightly higher if a piece needs to be X-rayed) plus 1 per cent of the valuation price of the item. To record and register a £10,000 ring, for example, would cost the owner £125. Future revaluations will only cost 1 per cent of the difference between the original valuation and the new value of the item. For more information or a valuation, contact Cahalans Jewellers in Ballinasloe or your own retail jeweller.