Advice Please- Cost to set and appraise diamond

[miaomy]

I recently ordered a setting in which I plan to place my own stone. The setting is custom and the prongs are custom according to the diamond dimensions. I called a local jewler I''ve worked with in the past and was quoted approximately $350 to set and appraise my 1.6 carat stone

. I may be a little green on this topic but I thought that was quite expensive or am I being cheap?

 

[belle]

prices vary so widely from jeweler to jeweler and region to region, but i would say that is probably not tooo far off unfortunately.

 

[jaz464]

That may be a little high. It all depends on how in-depth of an appraisal you will be getting. My appraisal was a couple hours long and I recieved a binder full of pictures and detailed information about my diamond. I think it was about $150. The cost of setting a diamond varies greatly as well. I think I was charged $50 by WF. The diamond was from another vendor but the setting was from them. If the setter did not sell you the setting or the diamond, the price may be higher than if you had bought one or the other from him/her.

 

[miaomy]

This is actually an independent appraiser who is also a jewler; so, I do expect a fairly thorough appraisal. I did however think $350 was quite high for these services. Perhaps I should consider shipping the stone to the e-tailer from whom I purchased the stone.

 

[belle]

Date: 1/9/2006 10:01:09 PM
Author: miaomy
This is actually an independent appraiser who is also a jewler; so, I do expect a fairly thorough appraisal. I did however think $350 was quite high for these services. Perhaps I should consider shipping the stone to the e-tailer from whom I purchased the stone.

considering that the vendor from which you purchased the stone should set the stone for free, i think that would be the best option.

 

[jaz464]

Yes, he should set it for free. However, if you want an indenpendent appraisal, you will have to go to someone other than who you bought the diamond from (and ideally, someone who does not sell diamonds at all).

 

[Richard Sherwood]

Date: 1/9/2006 10:01:09 PM
Author: miaomy
This is actually an independent appraiser who is also a jewler; so, I do expect a fairly thorough appraisal. I did however think $350 was quite high for these services.

An independent appraiser is one who does not buy or sell. This disqualifies your jeweler as an "independent" appraiser, although he may well be qualified to appraise your diamond on an "objective" basis. Some jewelers are, some aren''t.

The $350 figure is not overly high. I would charge $175 for an independent appraisal up to 2 carats, expecting jewelers to charge up to $100 for setting.

 

[miaomy]

Date: 1/9/2006 10:51:20 PM
Author: Richard Sherwood

Date: 1/9/2006 10:01:09 PM
Author: miaomy
This is actually an independent appraiser who is also a jewler; so, I do expect a fairly thorough appraisal. I did however think $350 was quite high for these services.

An independent appraiser is one who does not buy or sell. This disqualifies your jeweler as an ''independent'' appraiser, although he may well be qualified to appraise your diamond on an ''objective'' basis. Some jewelers are, some aren''t.

The $350 figure is not overly high. I would charge $175 for an independent appraisal up to 2 carats, expecting jewelers to charge up to $100 for setting.

I guess I had not considered the fact that he offers services as a jeweler and acts an appraiser. I do realize their name is no longer listed under the independent appraisers on this site. I will do a bit more checking around my area because even considering the figures you provided the $350 is on the high side.

Thank you to everyone for your responses.

 

[oldminer]

We offfer appraisal services and have stated before that we will set diamonds into pieces where the risk is reasonable for a rather nominal cost to the customer. Our area has several excellent setters in it and we have had no problems. We are responsible for any inadvertent damage that might happen although the risk seems very low to us.

It is not a conflict of interest to engage a setter to set a diamond versus provide an appraisal or grading document on a particular diamond. In your case especially, where you own both the diamond and the mounting already, we''d hardly influence your choice by providing one service or two services..... We know where to draw the line. We also sell Ideal-Scopes, but we don''t force anyone to use them. Its a matter of fairness and reason.

The $350 sounds highish, but if the provider feels this amount is competitive in your area, and if you agree, then it may be okay. We probably could save you some bucks, but there is shipping both ways which will eat up some of the difference. I encourage doing business locally and follow that style myself when I buy things a great deal of the time. Having a relationship with a local craftsman is not a bad thing, and may well be worth the added money. I''d be glad to talk with you via PM if you want to discuss further.

Lots of luck!