Did you get your stone/ring appraised..

[Dancing Fire]

by an independent appraiser?

 

[Cricketcat]

No, store that set the diamond did the appraisal for me.

 

[Diamondbug]

I did when I bought a preloved diamond and one from Blue Nile that did not provide all the stuff I needed for peace of mind. Other times when I bought from GOG, Brian Gavin and White Flash I did not.

 

[cflutist]

For me, there was absolutely no reason to.

I had the 10x, ASET, Idealscope, Hearts & Arrows images, plus the AGSL Lab report available.
I could see that the AGSL inscription on the girdle matched the lab report.
I could see that the clarity characteristics matched the plot on the lab report.
I had a one-page checklist that I followed, checking everything from crown angle to lower girdle lengths (and
I probably drove Wink crazy with it).

In addition Wink of HPD and I had an Internet Show & Tell session where I could see the diamond in question.
That was all I needed to formally "accept" my 2.21 F-SI1 CBI Diamond.
Wink and I have had a 10-year working relationship where I trust this man implicitly, period.
He has delivered on everything I have bought from him so there is no reason for me to use an outside appraiser.

 

[Mayk]

I paid David Atlas for an apprasial on the diamond I bought from Jewels by Grace. He's already done an sales evaluation on it.. So I paid his fee to have a professional apprasial for insurance.

 

[Dancing Fire]

For me, there was absolutely no reason to.

I had the 10x, ASET, Idealscope, Hearts & Arrows images, plus the AGSL Lab report available.
I could see that the AGSL inscription on the girdle matched the lab report.
I could see that the clarity characteristics matched the plot on the lab report.
I had a one-page checklist that I followed, checking everything from crown angle to lower girdle lengths (and
I probably drove Wink crazy with it).

In addition Wink of HPD and I had an Internet Show & Tell session where I could see the diamond in question.
That was all I needed to formally "accept" my 2.21 F-SI1 CBI Diamond.
Wink and I have had a 10-year working relationship where I trust this man implicitly, period.
He has delivered on everything I have bought from him so there is no reason for me to use an outside appraiser.

Cf
In your case I'd agree since you are a Gemologist, plus Wink is 101% trustworthy!

 

[two_little_birds]

Yes of course. IMO piece of mind is worth it, plus many insurance companies require it.

 

[kenny]

No, of course not.
Never once in the 25 or so GIA or AGS-graded diamonds that I have bought.
I have 100% peace of mind regarding every purchase.
I'm not much for fear and suspicion since I've done my homework, only deal with reputable vendors, and can match inclusions to plots and measure the stones with a calipers.

Their lab reports carry more weight than any appraiser document.

If I were to insure them (I don't ... again not much for fear or gambling) I'd just use the price I paid, which is on the invoice.

 

[lknvrb4]

No, I have not. I have thought about it though if I ever decide to sell my diamond on my own. It is GIA but I think some people like to have the independent appraisal as well.

 

[tmot14]

Nope, I bought from a reputable vendor and only insured for the value paid.

 

[bright ice]

Yes, only because insurance required it!

 

[WinkHPD]

Yes, only because insurance required it!

This is the second such comment I have seen in this thread.

I have been in the industry for more than forty years now and have never had anyone tell me that the "documentation for Insurance Purposes" that I provide was not sufficient for obtaining insurance.

For purposes of clarity, can you share with us if the insurance company was requiring an appraisal or an appraisal by an independent appraiser? If it was a requirement for an independent appraiser, will you share with us which company it was?

Wink

P.S. For what it is worth, many appraisal organizations would like you to believe that it is a conflict of interest for me to issue an appraisal on items that I have sold. I consider that to be nonsense, because who knows more about what it will cost to replace a custom item that I have sold than me? I was then told, by whom I no longer remember, that I could issue a "Document for Insurance Purposes" so long as I did disclose that I was involved in the sale.

It is always disclosed in the limiting conditions page of the document if I was involved.

Frankly, all of that having been said, I am still amazed that people rarely ask me to send to an independent appraiser and I am never insulted when they do. I am thus deeply appreciative of comments like the ones above from CFlutist and Dancing fire.

 

[EvangelineG]

Nope. By the time we bought from GOG, I had done my due diligence absolutely thoroughly, and had 100% confidence in our purchase.

 

[lovefordiamonds]

I did when I first got engaged (hubby purchased from Blue Nile) but with my recent purchase from IDJ, I did not. (GIA certed, laser inscribed, Reputable PS vendor, didn't feel the need.)

 

[elle_chris]

I use to have Jewelers Mutual and a receipt was not sufficient for insurance. They wanted an appraisal.

They did use the receipt while it was being set since the diamond and setting were purchased separately, but they still required the appraisal once I received the completed ring.

For my engagement ring stone, I used an appraiser because I wanted to see the diamond, and get an opinion before wiring the vendor over 30k.
I think it's pretty stupid to wire that much cash without first seeing the diamond.

 

[LoveLikeCrazy]

Nope. I have an AGS000 stone, which matched the laser inscription on on the stone and a vatche plat setting. Jewelers mutual agreed to allow me to use receipts for insurance. In a few years i will probably pay for an appraisal to update the cost to replace.

 

[CRYSTAL24K]

I did get an independent appraisal solely for the sake of insurance.

 

[denverappraiser]

This is, of course, a topic very near and dear to my heart.

Here are 10 reasons people seek out appraisals on new purchases:

1) Inspect for damage that may have occurred since the stone was lab graded.
2) Match the stone to the paperwork.
3) Confirm (or refute) things the dealer said that you don’t fully understand.
4) Add data and/or answer questions that the seller can’t or won’t answer.
5) Inspect, grade and document materials other than the center diamond.
6) Provide a quality control step for the setting and overall details of craftsmanship.
7) Provide as a secure out-of-state shipping location.
Provide photographs and other details that will become part of the purchase order if replacement is required.
9) Provide a benchmark for condition as of a particular date, usually the start date of the policy.
10) Operate as an escrow service and/or secure transaction facility when buying from unknown or untrusted sources (especially private parties)
11) Bonus. Provide a standardized and equipped viewing environment.

 

[cflutist]

I use to have Jewelers Mutual and a receipt was not sufficient for insurance. They wanted an appraisal.

They did use the receipt while it was being set since the diamond and setting were purchased separately, but they still required the appraisal once I received the completed ring.

For my engagement ring stone, I used an appraiser because I wanted to see the diamond, and get an opinion before wiring the vendor over 30k.
I think it's pretty stupid to wire that much cash without first seeing the diamond.

I had Jeweler's Mutual briefly as my loose diamond was being set by Vatche. They took an appraisal from Wink for that.

After my rings were finished, I got an updated appraisal from Wink for the finished rings that I then used to move my insurance from Jeweler's Mutual to my own Personal Articles Policy with my insurance company as the premium was $350 cheaper per year with a zero dollar deductible as it was at Jeweler's Mutual with a $250 deductible. I thought that Jeweler's Mutual would prorate the refund, but
to my surprise, they gave me a complete 100% refund because the policy was in force for less than 30 days.

I have to disagree with you as far as it being "pretty stupid" to wire that much cash without first seeing the diamond. This is where the trust that I wrote of in my previous post comes in. I paid (well in excess of what you paid) for a finished CBI diamond that wasn't even cut/polished yet and this was all based on the trust that I had for Paul Slegers of CBI and Wink Jones of HPD. To this day, I have not needed an independent appraisal done for any of my jewelry.

 

[elle_chris]

I use to have Jewelers Mutual and a receipt was not sufficient for insurance. They wanted an appraisal.

They did use the receipt while it was being set since the diamond and setting were purchased separately, but they still required the appraisal once I received the completed ring.

For my engagement ring stone, I used an appraiser because I wanted to see the diamond, and get an opinion before wiring the vendor over 30k.
I think it's pretty stupid to wire that much cash without first seeing the diamond.

I had Jeweler's Mutual briefly as my loose diamond was being set by Vatche. They took an appraisal from Wink for that.

After my rings were finished, I got an updated appraisal from Wink for the finished rings that I then used to move my insurance from Jeweler's Mutual to my own Personal Articles Policy with my insurance company as the premium was $350 cheaper per year with a zero dollar deductible as it was at Jeweler's Mutual with a $250 deductible. I thought that Jeweler's Mutual would prorate the refund, but
to my surprise, they gave me a complete 100% refund because the policy was in force for less than 30 days.

I have to disagree with you as far as it being "pretty stupid" to wire that much cash without first seeing the diamond. This is where the trust that I wrote of in my previous post comes in. I paid (well in excess of what you paid) for a finished CBI diamond that wasn't even cut/polished yet and this was all based on the trust that I had for Paul Slegers of CBI and Wink Jones of HPD. To this day, I have not needed an independent appraisal done for any of my jewelry.

I don't have them anymore either. My ring is covered under a valuable articles policy with our home insurer.

Regarding the "pretty stupid" comment. You're a gemologist, correct? If I were one as well, I may also view it differently.
This also wasn't a trust issue since the stone was purchased through WF, and I've purchased from them before.

This was just a case of me wanting to see the diamond for myself, as well as getting an unbiased opinion before committing.
It made me much more comfortable. So for peace of mind, I absolutely think it's worth it.

It's not about paranoia, or distrust- it's strictly about the consumer wanting to see what she's buying before buying it.

 

[ElleElle]

I did because my insurance company required it, but it was also interesting to hear a second opinion on the diamond too!

 

[canuk-gal]

HI:

Yes. Because I thought I should. And for insurance replacement value.

cheers--Sharon

 

[heididdl]

Nope

 

[diamondseeker2006]

Nope for me, too. Bought lab graded stones from GOG and WF and had zero need for other opinions. Used sales receipts and lab reports for insurance. If they hadn't taken that, I would have used their in-house insurance appraisal.

 

[kmarla]

Yes, I did for a couple of reasons. The original receipt I had was in U.S. Dollars but not indicated anywhere as such. After conversion the actual cost in CDN dollars was much higher. No appraisal certificate was included from the vendor, and finally I wanted the stone checked to verify that it matched the AGS certificate.