Glossary of Quoting Terminology

Retail Price The full ticketed retail price you would normally charge a standard retail customer for the item in the quote request.

Insurance Price The discounted price you would be willing to invoice the insurer to supply the item in the quote request, whether as an exact replacement, similar replacement, or in-store credit based on a calculated quote.

Comments to Claimant Use this field to provide any additional comments that help clarify your quote or explain how your quote may vary from the description. This is particularly important when providing a similar replacement quote.

Exact Supplying the item exactly as described, including its design and specifications.

• You can specially design, manufacture and supply the item using existing or currently available materials, based on the description or information provided in the quote request, at a minimum.
• This may also mean you can supply the exact model or serial-numbered item listed in the description.

Similar Supplying an item of similar design while still maintaining the key specifications outlined in the description.

• You can supply an item that is specially manufactured using currently available materials, or a pre-manufactured item of similar design, provided it meets at least the minimum specifications in the quote request.
• The similar item must be able to be supplied to the insured for the quoted amount without any additional out-of-pocket cost. This may also include a similar model or serial-numbered item, so long as the quality and specification are at least equivalent to the original description.

Calculation Providing a quote based on estimated or guide values, where current supply or specifications may not be confirmed.

• You may be able to supply a similar item if requested, but the quote is based on price guides or catalogues only, and materials may not currently be available or may be subject to price fluctuations.
• This may also mean you cannot supply the item as described and are only providing an estimated or ballpark value.

Can't Quote You are unable or unwilling to quote on the item described.

• This may mean you cannot supply the item exactly or similarly, and cannot provide an estimate or calculated replacement value, or simply do not wish to quote for any reason.

Exceptional Quality

• Highest possible quality in both material and cut.
• Top colour with excellent and even distribution.
• Minimal to no inclusions.
• Fine cut quality, with facets well aligned to maximise the gemstone’s appearance.

High Quality

• High quality in both material and cut.
• Good colour with good distribution.
• Minimal inclusions, barely visible to the naked eye.

Average Quality

• Average quality in both material and cut, commonly used by manufacturing jewellers.
• Average, light or very dark colour, sometimes with uneven or patchy distribution.
• Average cut quality, which may present with a window through the table.

Commercial Quality

• Large volumes of average-grade industry material or lower.
• Cut to maximise yield, often with minimal labour.
• Common and readily available material.

Low Quality

• Heavily included.
• Poor colour, either near colourless or very dark and opaque.
• Most commonly seen in low-value or costume jewellery.

Commercially Cast

• Consists of a single piece only, for example a wedding ring.
• Produced in bulk quantities, typically more than 10 pieces at a time.

Commercially Cast / Hand Assembled

• Consists of more than one component that must be assembled by hand, for example a white gold and yellow gold engagement ring.
• Produced in bulk quantities, typically more than 10 pieces at a time.

Traditional Handmade

• Constructed from stock gauge or plate metal using traditional techniques.
• No components are cast or machine made.

Custom CAD / Cast

• Designed using CAD for a custom or unique design.
• Cast from the CAD-printed wax.
• Cleaned up and assembled by hand.

Hand Carved Wax / Cast

• Wax is carved by hand.
• Cast from a one-off wax model.
• Cleaned up and assembled by hand.

Machine Made

• Constructed by machine.
• Includes machine-assembled chains.
• Includes machine-pressed settings or flat medallions.

Small Run Cast

• Predominantly small-batch or one-off cast products.
• Often produced by artisan galleries or hobby jewellers.