Valuation conducted by a member of the Australian Association of Jewellery Valuers (AAJV). The estimated replacement value is, in the opinion of the valuer, the estimated cost of having the piece replaced based on the current market price of the stones and precious metals. As the grading of precious stones & diamonds is not an exact art and due to fluctuations in the market, variations may occur. Further information on valuation methodology can be found on the Authenticity Report Tab. The estimated replacement value may be used for insurance purposes but does not represent a retail price or the resale value of the jewellery piece.