Purchse, Appraisal, Insurance - What Order?

[DeMarco]

I have picked out rock I like:
- Square shape
- 1.3 carats
- E Color
- SI1 (had one feather on the far edge)
- 71% Table - 75% Depth...I know in Square cuts there are less perfect equations for maximum brilliance, but in this case the rock was almost completely purple under IS
- 1.01 proportions
The jeweler I am buying this from is also helping me design a setting, what should be the order in terms of:
1) Actual Purchase
2) Appraisal
3) Insurance
Also, what would be a good price from a rock describe above?

 

[Hest88]

The appraisal portion depends on what you want to achieve. If you want to make sure you''re getting what you think you are, then you should have the stone sent to an appraisal during the evaluation period.

However, if you are comfortable with the purchase and just want the appraisal for insurances purchases, you need to wait until the stone is set first and then have the entire ring appraised at once.

 

[Todd07]

You have some flexibility but need to follow the below advice to minimize your risk.

Find an independent appraiser you want to work with and get their pricing for initial appraisal and updates.

Get the stone appraised within the 100% return window from your jeweler. If this is a problem, get the stone appraised before you buy and have them update the appraisal after the ring is completed. The advantage of getting just the stone appraised is the measurements will be accurate since if you bring in a complete ring, they will not remove the stone unless you specify such. It''s better to only have your jeweler set the stone so they are liable for any workmanship issues.

Add it to your Home Owner''s insurance as soon as you have possession.


I guess the price should be $5.9-6.5k for a GIA cert princess stone with those specs.