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Good Value Formula

How to determine if your jewellery purchase was good value for money.

scales of justice

You may be surprised to hear a Jewellery Valuer say this, but the real value for money of your purchase has nothing to do with how much you paid versus how much it would have cost you elsewhere.

Yes, you did read that correctly.

In my opinion, it has more to do with the factors dealt with below. This lighthearted article is designed to encourage you to make the right choices, at any price level. Think less in terms of ‘20% off our normal price’, and more in terms of Cost-per-Wear and Smiles-per-Hour.

Here are the simple steps to see if your jewellery was good value for money:

  • Select an item of jewellery that you already own.
  • Answer the four attribute questions.
  • Click the "Calculate Value for Money" button to see the personalised result.


All Jewellery Valuers love formulae, we use them for all sorts of things... weight calculations, value projections, retrospective value calculations etc. They provide a quick way of entering a lot of data to get a reliable, consistent, useful answer.
Here is a formula I have devised for you, to see if you got a good deal. I hope you find this as exciting as I do. There is a calculator below that will do all the calculations for you. Let's go!

The formula = AW + EDW + SA over FP - (FP/3) equals Value for Money
Fear not - A calculator below will do the work for you.
I have illustrated it here to show my workings to those who may be interested

The Attributes & Your Ratings

The degree to which a jewellery purchase represents good value for money (VFM) rests on the attributes mentioned in this section. Read the examples to get a feel to where you would rate your own experience with your item of jewellery, then rate each of these four attributes from 1 to 5, in the drop-down lists.

AW: - Amount of wear the item is receiving:


  • (Rating = 1) ‘I never wear that ring, in fact I am not even sure where it is.’
  • (Rating = 5) ‘I wear my bracelet all the time, if I wasn't wearing it, I would feel undressed.’

How much is your item being worn?

EDW: - Your emotions connected with the item during wear:


  • (Rating = 1) ‘It now has fairly negative connotations. It does nothing for me and sometimes makes me feel sad.’
  • (Rating = 5) ‘It makes me feel fabulous! I look at it in the reflection of shop windows when I walk by.’

How does the item make you feel when you wear it?

FP: - The financial pain suffered when purchased:


  • (Rating = 1) ‘Buying my diamond earrings made little or no difference to my available ‘fun money’.’
  • (Rating = 5) ‘I sacrificed a lot. It took patience & determination to make getting that necklace a reality. Paying for it hurt.’

How much of a financial sacrifice was endured to buy this item?

SA: - The sentimental attachment you now have for the piece:


  • (Rating = 1) ‘No sentimental attachment at all. Another ring that looks same would be fine by me.’
  • (Rating = 5) ‘My mother gave this locket to me with her last breath. It means the world to me.’

Does this item have sentimental value to you?


The Calculation

Once all 4 answers have been given, click this button to see my response in the Results section below.


The Result

Your value-for-money factor is:

You have not entered your ratings yet


Jeweller's window
Look beyond the price, go for SPH (Smiles Per Hour)

This calculation is clearly done a little tongue-in-cheek and should not be taken literally. Beneath the rather frivolous surface of this article lies a fairly serious message. No matter how much the price has been slashed and the salesperson assures you of the bargain before you, it is only a bargain if you are going to wear it and enjoy it.

It works the other way around too, even if the purchase is an extravagance and the price several times more than you had originally intended to pay. It can be considered truly good value if it is the right piece for you and is going to give you many years of pleasure. You will be enjoying it long after you have forgotten how much it cost.

I love it when I have clients open their jewellery box and select a piece to show me and say ‘You know, I just love this piece, I get such a kick out of wearing it... even after all these years’.

Now THAT is what I call good Value for Money!

Adrian S Smith - Diamond Valuer


  • Adrian Smith FGA, FJVA, PJDip
  • Independent Jewellery Valuer
  • Perth, UK
  • Surety Valuations


  • Buyer's Guide (primary)
  • Jewellery
  • Humour

Intended Audience

  • Consumers (primary)
  • Academics


  • July 2020
  • 3.5 mins reading time
  • Dale-Chall readability level:
    Easily understood by an average 10th Grade Student (US)
  • 5 mins speaking time

About the Author

Jewellery and Diamond Appraiser - Adrian Smith

Adrian Smith FGA, FJVA, PJDip

Adrian Smith, of Surety Valuations, has spent his entire working life in the jewellery trade and uses his passion for gemstones and jewellery valuation to own and run an award-winning jewellery appraisal practice in Scotland. He is the Founder and Coordinator of the Association of Independent Jewellery Valuers and the Administrator of Jewellery Appraisers of the World. He has served on the Management Committee and Board of Governors of trade associations both in the UK and the US.

Adrian Smith - Jewellery Valuer

Surety Valuations

Perth, Scotland

Rating (82 reviews)Profile button
4.5 star4.9


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Comments (2)
Leave a Comment

avatarHelen. UKJul 2020

I did the calculation on a bracelet that I bought about 2 years ago. I got 2.8 which was fair value for money. The result rather reflects my suspicions that I should have bought something that I could wear more, like diamond earrings or something. A good tip on how to decide whether to keep the bracelet or sell it (very clever). Thank you, fun and informative.

Author's Response: I am glad that the formula helped you Helen.

avatarSandy. ScotlandJul 2020

Used Adrian for all my valuations. Great service and very attentive at what he does.

Author's Response: It has always been a pleasure to be of service to you Sandy.


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Consumer advice can be found in the Consumer Resources section, this contains information to assist the jewellery-buying public, for example: Types of Jewelry Appraisals and Jewelry Trade Asociations etc.