Terence Watts, FIRV - Obituary

21 Feb 2024

The Association’s Institute of Registered Valuers has lost another of its much-loved and well-respected valuer members – Terence J Watts passed away, suddenly but peacefully, at the age of 79, on 10th February 2024, following a short stay in hospital.

Terence Watts applied to become an N.A.G. Registered Valuer in 1988. In 1994 he was the first recipient of the prestigious David Wilkins Award – a silver trophy given annually to the valuer who has demonstrated outstanding skill, dedication or service in respect of jewellery appraisal and valuation. It was initially known as the RV of the Year award, and the late David Wilkins himself asked that Terence be the first recipient. Terence was very supportive of the importance of professional valuations and training of up-and-coming valuers.

Terence was also a guest speaker in 2009 and 2010 at the original Loughborough Conferences and attended many Conferences over the years. He retired in 2013 and moved from Newcastle-upon-Tyne to Nairn.

He began his career in 1966 as a trainee manager with H Samuel and went on to manage several of the group's stores in Scotland and the north of England. In 1984 he opened his own jewellery store in Newcastle, which closed a year later due to the economic climate at the time. He continued to manage jewellery stores until 1988 and also attained diplomas in N.A.G and F.G.A courses and attended several N.A.G valuation seminars – a subject that he was clearly very interested in. He started as an independent jeweller valuer (quite unusual in those days) and remained a freelance valuer until he retired.

The IRV’s (now retired) administrator, Sandra Page, remembers Terence with fondness.

“For a number of years, I used to type up his valuations for him. We would chat most days and I looked forward to his calls. He had an amazing dry wit, often having me in stitches. Even after he retired, we’d call one another on our birthdays for a catch-up. I last spoke to him in December last year – he was looking forward to celebrating his 80th birthday, which would have been on March 18th.” She remembers Terence’s many words of wisdom, in particular: “I know what I know, and I know what I don’t know - it’s what I don’t know that I don’t know that scares me!” As valuer Barry Sullivan FIRV comments: “this is a great epitaph, and it remains as true today”.

Terence leaves a widow, Mary, daughter Lindy and grandchildren, Carlie and Charles.

Source: National Association of Jewellers