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Q. on Goods to Follow - Jewelries and Approx Values?

Q. on Goods to Follow - Jewelries and Approx Values?

Old Feb 4th 2005, 8:27 pm
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Default Q. on Goods to Follow - Jewelries and Approx Values?

Hi,

Two questions:

1. "Settlers' Effect" states that

"...settlers importing valuable pieces of jewellery obtain an appraisal report from a qualified gemmologist, jeweller, or from their insurance agent. Such jewellery should be individually identified on the list of goods submitted to customs."

Does anyone have any idea how they define "valuable pieces of jewellery"? What price range are we talking here?

2. What is the Approximate Value of items? Is that the appreciated/depreciated value or the original purchase price? I live in Hong Kong and being a "throw away" society, items here depreciate very quickly. For example, a HK$2,000 (CAD$320) TV here will depreciate to about half (HK$1,000, CAD$160) in less than a year. So in this example, should I put CAD$320 or CAD$160 in the list?
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Old Feb 4th 2005, 11:19 pm
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Default Re: Q. on Goods to Follow - Jewelries and Approx Values?

Valuations in the uk can be done for selling value or insurance value.
I have all gold and sliver listed and valued for insurance purposes. Valuation is higher than the price I would get if I sold it to the jeweller.

Valuable to me is if was stolen would I be uspet? A cheap dress ring , plated silver plated gold etc, no. If lost the insurers would not pay out for that.

But a wedding, engagement , eternity ring, etc yes. Inherited items that you would no part with, again yes.
If the items went missing when moving. You will want to claim off the insurance. So unless they are valued for insurance purposes. You may not get anything.

People tend not to "throw" away valuable items of jewelery as rule!
Electrical items t.v's etc are completely different.



Two questions:

1. "Settlers' Effect" states that

"...settlers importing valuable pieces of jewellery obtain an appraisal report from a qualified gemmologist, jeweller, or from their insurance agent. Such jewellery should be individually identified on the list of goods submitted to customs."

Does anyone have any idea how they define "valuable pieces of jewellery"? What price range are we talking here?

2. What is the Approximate Value of items? Is that the appreciated/depreciated value or the original purchase price? I live in Hong Kong and being a "throw away" society, items here depreciate very quickly. For example, a HK$2,000 (CAD$320) TV here will depreciate to about half (HK$1,000, CAD$160) in less than a year. So in this example, should I put CAD$320 or CAD$160 in the list?[/QUOTE]
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Old Feb 5th 2005, 1:23 am
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Default Re: Q. on Goods to Follow - Jewelries and Approx Values?

Originally Posted by gooding
Valuations in the uk can be done for selling value or insurance value.
I have all gold and sliver listed and valued for insurance purposes. Valuation is higher than the price I would get if I sold it to the jeweller.

Valuable to me is if was stolen would I be uspet? A cheap dress ring , plated silver plated gold etc, no. If lost the insurers would not pay out for that.

But a wedding, engagement , eternity ring, etc yes. Inherited items that you would no part with, again yes.
If the items went missing when moving. You will want to claim off the insurance. So unless they are valued for insurance purposes. You may not get anything.

People tend not to "throw" away valuable items of jewelery as rule!
Electrical items t.v's etc are completely different.
gooding, thanks for your reply.

The 2nd question is a general one and not specific to jewelry.

As for what is valuable, I guess it is relative to your fortune or income. A CAD$320 worth of jewelry may mean nothing to someone earning hundred 100K a year (no that's not me). So I guess what we think as valuable is not as important as what Canadian customs think.

I am really at a loss as to whether to itemize all our jewelry or only those at a certain values. Mind you, we do not own expensive jewelry. We don't put them in a vault or something.
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Old Feb 15th 2005, 3:01 pm
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Default Re: Q. on Goods to Follow - Jewelries and Approx Values?

Originally Posted by alton
gooding, thanks for your reply.

The 2nd question is a general one and not specific to jewelry.

As for what is valuable, I guess it is relative to your fortune or income. A CAD$320 worth of jewelry may mean nothing to someone earning hundred 100K a year (no that's not me). So I guess what we think as valuable is not as important as what Canadian customs think.

I am really at a loss as to whether to itemize all our jewelry or only those at a certain values. Mind you, we do not own expensive jewelry. We don't put them in a vault or something.

We itemized all jewellery items - followed the descriptions given in the receipts and took photos of them.

In the end Vancouver Coustoms didn't take the photos, but I've heard of other Coustom officers insisting on photos.
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