What to keep in mind for an insurance appraisal

[natascha]

I need an appraisal for insurance purposes (in the UK) and have now set up an appointment with an appraiser recommended by the Guild of Valuers and Appraises (thank you needfullshineythings!). If anyone has another recommendation for an appraiser in London I am all ears

The one thing that worries me slightly is that it is valuation day at located at Ersnt and Jones ( a highstreet jeweler) and I couldn't talk to the appraiser beforehand. Supposedly it would only take 30-45 min to appraise my three items (OEC solitaire, toi et moi with OEC's and studs also with OEC's)

What should I keep in mind when it comes to the valuation? e.g. shall I tell them what I know about my jewelry, what should I watch out for, what to ask, etc.

Now since I only need this for insurance purposes, my thoughts (this will sound terrible to many) is that I just want a paper with the specs and an approximate value that the insurers will accept. I managed to buy the stones at very good prices so I do want them insured at a higher price then I paid since I won't be able to replace them for what I paid. Since the insurers with an option for cash settlement that I have found will discount based on what they would pay to replace the item with their preferred suppliers I do want a "high street" appraisal even though it will be inflated.

Or Im I going about this in the wrong way?

Also will they accept my word for the weight of the diamond? they have been weighed outside the setting but I stupidly didn't ask for any paperwork when it was done

 

[kenny]

The system is BS.
"Appraisals" are often a scam to make you think you got some screaming deal.
Even PS vendors include 'appraisals' that say a diamond is worth WAY MORE THAN YOU JUST PAID!

Nuff said?

Of course our egos love to hear our bauble is worth 40% more than we paid.

I'd use the receipt/invoice when deciding what value to insure a diamond for, not an so called "appraisal".
Why pay a higher premium insuring for an inflated price?

 

[natascha]

The system is BS.
"Appraisals" are often a scam to make you think you got some screaming deal.
Even PS vendors include 'appraisals' that say a diamond is worth WAY MORE THAN YOU JUST PAID!

Nuff said?

Of course our egos love to hear our bauble is worth 40% more than we paid.

I'd use the receipt/invoice when deciding what value to insure a diamond for, not an so called "appraisal".
Why pay a higher premium insuring for an inflated price?

The sole reason I am getting an appraisal is because insurance requires one. I don't want to use what I paid since I literally can't replace my things for what I paid (plus they have been converted beyond recognition). That probably sounds very stuck up but it's not meant that way, e.g. my solitaire I found mislabeled in a pawn auction set in a heavy mans ring, my toi et moi took me 2 years to find in my price range with two matching stones and it was a bit of a gamble that this time I won.

For your beauties that come from a respectable dealer and with papers I definitely wouldn't over-insure but in my specific case it seems like the best option although Im happy to hear other opinions

 

[natascha]

Shameless bump. Have the appraisal booked for tomorrow and basically figure that i need to insist on as many details as possible

 

[natascha]

Shameless bump. Have the appraisal booked for tomorrow and basically figure that i need to insist on as many details as possible

 

[pyramid]

I don't know, but if you can get your diamonds at bargain prices by spending a lot of time and by chance of luck and you
lose them, you could probably do it again. It is probably the skills you have for finding them rather than the luck or chance. Maybe
that price is your correct price for appraising. I do understand it from what you are saying too. I am in the UK too and know too
that Ernest Jones are way more pricey than Pricescope and have basically I1 diamonds of K, L colour. I wouldn't pay their
appraisal price. I know that local appraisers are just as expensive though, so unless you can use receipts there is no option really.

I would think Ernest Jones would just give a standard appraisal, can't see them writing all the fancy things that pricescopers get
on their appraisals such as AGS ideal cut or such and such pavillion angle.