Appraisal needed before or after mounting?

[Ready2AskHer]

I've read about appraisals and what happens, but I don't understand when to get the appraisal?
The purpose in the appraiser is to make sure you got what you paid for. The appraisal is more accurate iif the diamond is loose (and a grading can only be performed on a loose stone). But if I get it appraised loose, then turn it over to someone to mount it, how do I know the diamond in my ring is the same as the one I got appraised or that it wasn't chipped or hurt during mounting? Do I get it appraised again? Also, the appraisal is for insurance values. To have it properly insured to I have to get a second appraisal after it is mounted? I'm buying it from a reputable vendor on Pricescope who has only received great reviews. Do I need a loose diamond appraisal and an appraisal after mounting to make sure it's the same diamond and nothing happened to it during mounting? Or is it safe to just have it appraised after it is set? Appraisals are expensive.

 

[belle]

you don''t *have* to get an appraisal at any point in the process unless you insurance company requires it or you need it for your own piece of mind. decide what it is you want from the appraisal and go from there.

 

[Melinda]

Derek,
I''d recommend getting an appraisal before and after the stone is set.

 

[Melinda]

Oh, and preferably by the same person.

 

[blodthecat]

Huh

I would have thought it best to appraise prior to setting. Why have it appraised before and after? What will have changed, especially if you have the same appraiser!

Blod

 

[RockDoc]

RE: Appraisals are expensive.

Depends on the size stone you thinking about getting, and whether you want further testing done, to provide you with more information than what sellers provide so that your purchasing decision is made based on an evaluation that is complete review.


Experience and expert eye examination, from someone who is not selling diamonds, provides you with the comfort of peace of mind. If you''re investing thousands of dollars in purchasing a diamond, the verification of what you''re buying and that you''re getting a good value can be very worthwhile.

Check out the appraisers listed, and maybe call a few to discuss your needs, and then you can weigh in your mind, if this is something you want to do.

Many of the best appraisers out there do participate on this forum, usually far better and advanced as to whom you might find locally.

Rockdoc

 

[Ready2AskHer]

Do I need an independent appraisal to get insurance? Or just a receipt and a GIA grading report.

The diamond is a .9 Carat F VS2 VG VG with excellent cut.

 

[EdSkinner]

Get it appraised loose. Then get it set. Then take it back to the appraiser and have it verified. I don''t charge to verify my own work, check the ring, make sure they didn''t damage the stone and make sure that you know it is the same stone.

 

[esguy27]

Here is how the appraisal of the stone I bought went.

1. received loose stone from Whiteflash
2. made an appointment with independent GIA certified appraiser (found him through Pricescope)
3. got appraisal done on the loose stone (I paid the appraiser''s fee at this point)
4. was instructed by my appraiser to come back to finish the appraisal once the stone has been put in a setting
5. came back about 2-3 weeks later with the finished ring (no extra fee was charged)
6. the appraiser added the setting into the appraisal amount
7. received the finished appraisal product about 3 or 4 days later

"But if I get it appraised loose, then turn it over to someone to mount it, how do I know the diamond in my ring is the same as the one I got appraised or that it wasn''t chipped or hurt during mounting"? First off, I watched my stone being mounted into the setting at Robbins Bros (it took about 10-15 minutes). Then when I went back in to see my appraiser the second time, he verified that the stone in the setting was the same stone I had brought in to him loose.

"Do I get it appraised again"? As I mentioned above, I technically made 2 trips to see my appraiser (once with the loose stone and once with the finished ring), but he didn''t charge me twice. I would think that most appraisers would work this way and not charge you to twice to complete the appraisal.

"Appraisals are expensive". I paid $100 for the appraisers services.

Also, one other bit of advice. Don''t get caught up in the "my ring appraised for twice the amount I paid for it" phemomena. All this guarantees is that you''re going to pay a lot more to have the ring insured. All you should be concerned with is that the amount it is appraised for covers what you paid for it. I paid $7500 for the ring and it''s appraised and insured for $8500.

I hope this helps.

 

[esguy27]

Date: 3/21/2006 11:46:45 AM
Author: blodthecat
Huh

I would have thought it best to appraise prior to setting. Why have it appraised before and after? What will have changed, especially if you have the same appraiser!

Blod

Blod, the reason you go in twice is so that the appraiser can adjust the amount of the appraisal to accomodate for the setting. The first time you go in (assuming you go in with a loose stone), they don''t know what type of setting the stone will be in (gold, platinum, eternity, etc). Remember, the setting has value too, you want the appraisal to reflect that as well.

 

[denverappraiser]

Date: 3/21/2006 11:46:45 AM
Author: blodthecat
Huh

I would have thought it best to appraise prior to setting. Why have it appraised before and after? What will have changed, especially if you have the same appraiser!

Blod

Blod,

The purpose of having it appraised is to get information that will be useful to you. I’m not sure I would agree with DiamondDerek's assessment that appraisal fees are expensive but this depends on what you count as expensive and what you get for it but if you only want to pay to have it looked at once, I would recommend that most PS customers learn more by having it appraised AFTER the setting than before. This is especially true if you are buying from one of the vendors that supplies extensive data about the stone in the first place so that the initial appraisal is really just intended to confirm that you got the ‘deal’ that you were expecting. Most of my PS clients know quite a bit before they ever reach my door. At the post-setting appraisal you learn:
Is it the same stone that you purchased?
Has it been damaged during the setting process?
Is it set correctly and securely?
Are there any other craftsmanship problems with the ring or the other stones?

This is especially important if the diamond, ring and setting labor came from more than one supplier.

This second appraisal serves as a dated starting point for your insurance policy. As of the date of the inspection you have documented exactly what you have by an uninvolved 3rd party immediately prior to you taking final posession of the piece. This serves as a benchmark for any possible insurance claim in the future.

Neil Beaty
GG(GIA) ISA NAJA
Professional Appraisals in Denver

 

[Modified Brilliant]

Is it set correctly and securely?
Are there any other craftsmanship problems with the ring or the other stones?
------------------------------------------------------------------------------------------------------------------------------
These are key issues that Neil brings up for discussion. If your diamond is being set by a different vendor, you never know what issues might arise.
It''s important to have your appraiser check the mounting after the diamond is set. A client last month couldn''t believe it when he saw his round brilliant spinning around in the mounting and two very bad prongs. Things like this happen, not often, but they DO happen.

www.metrojewelryappraisers.com