Valuations, Estimates & Zakat

17 questions answered. All FAQ topics

Valuations & Zakat

Do you provide jewellery valuations?

Yes. Gold Factory provides valuations including insurance, probate, replacement and other agreed valuation work.

Are valuations free?

General formal valuations are charged because they can require detailed examination, photographs and documentation.

Do you provide insurance valuations?

Yes, for a fee.

Do you provide probate valuations?

Yes, for a fee.

Do you provide replacement valuations?

Yes, for a fee.

Do you provide Zakat valuations?

Yes. A basic Zakat valuation is free. If the customer requires a certificate, the charge is �5.

Do you have a Zakat calculator?

Gold Factory provides a Zakat calculator or guidance facility on www.goldfactory.co.uk where available.

What does the Zakat calculator consider?

It can help a customer consider declared qualifying wealth such as cash, bank balances, gold, silver and other assets. The customer is responsible for entering the correct figures and deciding which assets should be included under the religious guidance they follow.

Is the Zakat calculator religious advice?

No. The Zakat Calculator is an informational tool. Personal rulings can differ according to circumstances and school of thought, so a qualified religious adviser should be consulted if you need a personal ruling.

Are diamonds included in Zakat?

This can depend on the nature and use of the diamonds, the customer's circumstances and the religious guidance they follow. Gold Factory's Zakat tools are informational and are not a substitute for a personal ruling from a qualified religious adviser.

Does a valuation guarantee Gold Factory will buy the item for that amount?

No. A valuation is for the stated purpose and date and is not a guarantee of a future cash-buying or resale price.

Zakat Valuations & Zakat Calculator

Can I bring my gold jewellery to Gold Factory for a Zakat valuation?

Yes. Gold Factory provides Zakat valuations for suitable jewellery and precious-metal items.

Is a basic Zakat valuation free?

Yes. A basic Zakat valuation is free.

How much is a Zakat valuation certificate?

The current charge for a Zakat valuation certificate is �5.

Can the Zakat Calculator include cash and bank balances?

Yes. The calculator can include declared qualifying wealth such as cash, bank balances, gold, silver and other relevant assets entered by you.

Does the Zakat Calculator decide whether my jewellery is liable for Zakat?

No. The calculator provides information and calculations based on the figures entered. Whether a particular asset is included can depend on the religious guidance you follow.

Can Gold Factory give me a personal religious ruling about Zakat?

No. Gold Factory can provide valuations and an informational calculator. A personal religious ruling should be obtained from a suitably qualified religious adviser.