Industry warned against hoax IRV valuers

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Individuals purporting to be IRV registered are deceiving clients.

The Institute of Registered Valuers (IRV) has warned the industry and consumers against a number of individuals falsely claiming to have IRV membership.

The IRV, part of the National Association of Goldsmiths (NAG), issued a warning in April last year of a similar occurrence and has since continued to receive reports that a small number of valuers are claiming membership of the IRV and using this in their valuation of goods for both customers and retailers.

IRV co-ordinator Sandra Page stated: “Valuers wishing to become NAG Institute Registered Valuers are required to follow a stringent course of training and prove their abilities as valuers to the Institute before they can become IRVs.

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"As one of the few major bodies recognised by UK insurers an incorrect valuation by someone claiming to be a member of the IRV could be the difference between a successful claim and the loss of a valuable piece of jewellery, with no recourse for the customer or jeweller in question."

Page explained that many insurance companies now only accept valuations that have been produced by IRV members, resulting in many valuers falsely claiming to be IRV registered to win business.

IRV registered members can be looked up via the Jewellery Valuers website. Anyone who suspects their valuer has falsely claimed membership should contact the NAG or Sandra Page.
 

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