During an inspection and valuation at the London home of our client, a rather substantial fissure was detected inside the Burmese Sapphire. The client had no idea how this had occurred; the sapphire had been purchased privately and in perfect condition.
Benefits of an experienced broker
The sapphire was insured at retail price rather than trade price such is their scarcity and the difficulty to find a willing seller. This was clearly an ambiguous occurrence and the client was distraught.
- We took the sapphire to Hatton Garden specialists but it could not be restored and the damage was permanent.
- We advised the client to claim for accidental damage and ask for either a like for like replacement or full cash settlement.
- We managed the tender process and our client settled on a rare sapphire that our supplier sourced from Singapore.
The damaged sapphire was returned to the insurer and was then sold for its remaining value at auction, a very satisfactory outcome for the client.
Without a broker
Thanks to Stanhope Cooper’s standing with the insurance company, deep understanding of rare and precious items of jewellery and unparalleled network of specialists, the claim was settled and arguably a rarer and more precious sapphire was sourced.
Only an experienced private client broker could have negotiated such an outcome. A general insurance broker simply is not set up to deliver this type of service to the world’s most discerning clients.
Our client’s son was doing his homework and pulled his ink pen apart. The ink went everywhere, several possessions needed replacing including a new floor.Find out more
Our client’s home was broken into with the main door smashed and the car keys were stolen. But the biggest issue is that the client was living abroad at the…Find out more
Our client misplaced their hearing aid – the difficulty as you can imagine is the fact they couldn’t hear well without it!Find out more
Our client uses a company to buy rare & fine wines on their behalf and store them for them in a specialist storage facility. Unfortunately, the facility was broken into…Find out more
In the run up to Christmas, our client suffered from a traumatic aggravated burglary whilst at home and 4.25 million pounds worth of jewellery was taken from the safe. Unfortunately…Find out more