Insurance Replacement Valuation and Appraisal Policy

Document code: RJ-LS-09

Version: 3.1

Version date: 22 September 2026

Effective date: 1 October 2026

Issued by: Ralph Jacobs SA (Pty) Ltd (reg. 2019/101093/07) and Ralph Jacobs NZ Limited (company no. 9334729) — see Where We Sell for which company sells to you

Supersedes: all earlier published versions of this document

This Policy explains Ralph Jacobs insurance replacement estimates, valuation documents, appraisal wording, duplicate reports and revaluation processes.

If you are buying from outside South Africa, read this together with Where We Sell and Who You Buy From.

Unless an independent qualified valuer is separately appointed and identified, a Ralph Jacobs document is a Ralph Jacobs insurance replacement estimate or appraisal document, not an independent valuation.

We base an insurance replacement value on the specific item in front of us, taking account of:

• current replacement cost;
• metal type and weight;
• stones and grading information;
• laboratory report where applicable;
• exchange rates;
• supplier replacement cost;
• labour and design complexity;
• market availability;
• setting, finishing and replacement practicalities; and
• taxes, VAT/GST, customs, shipping, import or administrative costs where relevant.

No automatic fixed uplift may be used as a default substitute for item-specific valuation methodology.

Insurance replacement estimates may differ from retail price, resale value, market value, insurer settlement value or forced-sale value. Insurers may apply their own methods and may require independent assessment.

Laboratory reports and certificates are third-party documents and reflect the issuing laboratory’s opinion at the issue date. Ralph Jacobs does not control later regrading, changes in laboratory standards or insurer treatment of those reports.

Ralph Jacobs may charge a reasonable fee for duplicate, updated or replacement documents, especially where research, inspection, photography, administration, laboratory work or updated market checks are required.

Ralph Jacobs does not guarantee that an insurer will accept a valuation, insure an item, pay a claim, or pay the amount stated in any document.