Help AFTER Purchasing the ring...

[goldlion]

Once I purchase the stone, what is the next step?

Do I:
1. Get stone sent to appraiser BEFORE getting the stone placed in setting?
2. To the appraiser AFTER the stone is set?
3. What about insurance?
Etc...


Thanks...

 

[Daniel B]

Definitly get the stone appraised loose before getting set--you wont get a fair assessment if the stone is mounted. And if you are satisfied with the results from the appraiser, get that bad boy insured

 

[jasontb]

Skip the insurance. There are better ways to throw your money away.

Unless the loss is going to be a big financial dilema for you (and if you ask me...it is *impossible* for the loss of a piece of jewelry to be a financial dilema...even if it's worth tens of thousands of dollars...obviously it was discretionary money...you spent it on jewlery!) insurance is foolish.

Bottom line: You will *ALWAYS* make out better in the long run by not buying insurance. The proof is simple: People make money selling insurance.

 

[Shay37]

Date: 3/13/2006 11:31:25 PM
Author:goldlion
Once I purchase the stone, what is the next step?

Do I:
1. Get stone sent to appraiser BEFORE getting the stone placed in setting?
2. To the appraiser AFTER the stone is set?
3. What about insurance?
Etc...


Thanks...

1. Yes.

2. Yes. Most appraisers will recheck after setting to make sure that the diamond was not damaged in the setting process. Some may include that in the price, others may charge a nominal fee. Very worthwhile to have it done both ends.

3. Only you can decide whether it's right for you. Mine is insured through Chubb. I just think that for a purchase that (no matter the budget) is this huge, you need to have it insured. Yes, it's technically a luxury item. However, how long did it take you to save for it? Could you do it again if something happened to it 5 years from now when you may have house payments and kids that take precedence over replacing a beloved ring that really is a luxury. That is something you must decide. However, the thought of her face knowing she can't get a ring to wear because you guys don't have that kind of discretionary income after life happens, is a sad picture.

HTH

shay

Edited: Because I can't seem to spell or punctuate today.