WF A Cut Above appraised as very good cut. Does it matter?

[Grade1View]

The title says it all. I recently purchased a round brilliant ACA stone from White Flash. The stone and setting look awesome, I'm very happy with the product. However, I took the stone in for an independent appraisal, and she graded the cut as Very Good due to something about the culet.

I know an appraiser's job is to be as objective as possible, but there is certainly some degree of subjectivity to the art. I can't escape the feeling that if I went to three different appraisers I may come away with three different opinions. In the end, does this matter at all? Will this impact what type of replacement I could receive if the stone is lost or stolen?

Thanks all!

 

[chrono]

Re: WF A Cut Above appraised as very good cut. Does it matte

For an insurance replacement, every detail in the appraisal matters because it DOES impact the replacement you will receive in the event of its loss or damage. I would ask the appraiser for her reasoning why she graded it as a VG (exact words about the culet). The appraisal should also include all the Sarin information, ASET and H&A documentation. My concern is that the appraiser you selected may not be up to snuff.

 

[pfunk]

Re: WF A Cut Above appraised as very good cut. Does it matte

Can you be more specific about what it was with the culet? I imagine every ACA has a culet that is "pointed" which should never be cause for a decrease in cut grade. The only thing that I can guess is if there was damage to the culet when setting, which would be unlikely. We would need more details about exactly what the appraiser said? Was this a PS recommended appraiser?

 

[Grade1View]

Re: WF A Cut Above appraised as very good cut. Does it matte

I can't recall her exact wording. I will send her an email. The culet is listed as pointed on WF's website. This is a link to the actual stone: http://www.whiteflash.com/loose-diamonds/round-cut-loose-diamond-3227670.htm#

I found the appraiser by following the Resources --> Appraisers tab on this page, and then selecting my state.

 

[marymm]

Re: WF A Cut Above appraised as very good cut. Does it matte

Did the appraiser not see the AGS diamond certificate indicating Ideal for Cut Grade, Light Performance, Polish, and Symmetry?

I'm not sure I trust an appraiser who would appraise an AGS super ideal RB as having a very good cut, without providing a clear and detailed reason (such as damage to diamond not shown on lab report, which I don't believe is the case here) - and not only documenting that conclusion in the appraisal report, but clearly and effectively communicating same to the client (you).

If you've reviewed the appraisal documents and you cannot find a basis for the "very good" cut determination made by your appraiser, it appears your appraiser did not do a thorough job in this instance. Without knowing more, and based just on what you've communicated, me personally I'd be asking for a refund from the appraiser.

But first I would contact the appraiser, preferably in email/writing so you have a record, asking for clarification - people do make mistakes and perhaps that's what's happened here.

 

[WinkHPD]

Re: WF A Cut Above appraised as very good cut. Does it matte

This is very important. Does the appraiser mention in the appraisal that this is a White Flash ACA?

If not, you will NOT receive a diamond equal to what you paid for as your adjuster will just go find a "like kind" stone that may or may not be as beautiful as what you now have.

PFunk is correct that we need more information about what the appraiser said about the culet. If it was damaged, you need to know that now. If it is pointed and not damaged, then it opens questions about the Very Good cut grade for an AGS 0 cut graded diamond.

Looking at the AGSL report I see that it is a Proprietary report with "A Cut Above®" clearly displayed. Is this report part of the appraisal?
Does the appraiser explain the cut grade in the report issued to you?

These are the questions in my mind.

Please keep us apprised.

Wink

 

[pfunk]

Re: WF A Cut Above appraised as very good cut. Does it matte

I assume if this was a complete setting, as it sounds like it is, it would have come with an insurance valuation from whiteflash? Or do they not do that? If it did, I would surely be submitting that to the insurance as opposed to this appraisal. You spent top dollar on a top of the line stone and I would not risk getting anything but premium replacement in the event something were to happen. I'm very curious to hear what this appraiser felt was wrong with the culet, as I would be very surprised if there was some kind of damage that whiteflash did not catch prior to sending it to you. Highly unlikely.

 

[Texas Leaguer]

Re: WF A Cut Above appraised as very good cut. Does it matte

Hi Grade 1,
As others have said there is no reason this stone should get anything but a top grade for cut quality. Please contact us so that we can help you determine what the issue is and get it resolved.
I'm sorry for any upset this is causing you.

 

[partgypsy]

Re: WF A Cut Above appraised as very good cut. Does it matte

That is very puzzling. I would definitely follow up with the appraiser, and if they cannot answer satisfactorily why they graded it as very good, I would get my money back and start over.

With the paperwork you have, I would only get an appraiser if you needed it for insurance purposes (the insurer requires it).

 

[Grade1View]

Re: WF A Cut Above appraised as very good cut. Does it matte

Thanks everyone for the responses!

First of all, let me reiterate that I think the stone and setting look wonderful. I was and still am really happy with how the product turned out. White Flash has been a pleasure to work with from the beginning, and has provided me with nothing but top notch customer service. Thanks for reaching out in this thread, although that was never my intention!

As far as how the appraisal went down: I was asked to bring with me the diamond certification from AGS, and any receipts. I brought both with me, but the appraiser asked for and looked at neither. She did ask for some info on the stone beforehand, so I provided her with the color, clarity, carat, cut, as well as a brief description. I explicitly stated in email before hand and in person that it is an ACA stone (but I got the impression she was unfamiliar with that designation).

The final appraisal document has not been compiled and given to me yet. At the end of the appointment she went over each of her findings before creating the report (which is being done this weekend). This is when she told me she graded the stone as Very Good (vs Excellent (GIA scale)). Again, I have not yet been provided with the final document.

I spoke with the appraiser via email today. I voiced that I was concerned about the discrepancy between her findings and the AGS report cert. She said that she used a variety of tools to evaluate the cut, but that none of them are scientific in any way. She conceded that the AGS lab is well respected and has several specialized tools to evaluate cut and dimensions (which I assume means she does not have access to those tools?). She stated that she believed the culet is off center, and that was the reason for the deduction in grade. She said hat she doesn't have a problem rating the stone as excellent, and culet does not always impact overall cut grade and brilliance.

So, I guess that the final document will display Excellent cut, and hopefully should cover me if the item ever needs to be claimed on insurance.

PFunk- you asked about the insurance valuation-- Nothing was sent with the diamond regarding that (that I can ascertain at least). However, information about the diamond and setting was sent to Jewlers Mutual, who offered me a quote simply by entering my WF order number. I bought that insurance, which values the piece at a figure I believe would allow me to replace this jewelry. Jewlers Mutual never asked for an appraisal, I assume because they got the info they need from White Flash? Now that the item is covered, I'm not sure if I should even submit this appraisal to them or not? I'm very new to high dollar jewelry. If this appraisal values the jewelry at less than my policy does, what should I do?

Thanks everyone for your help. Thanks White Flash for reaching out! I'll update once I receive the final appraisal report.

 

[denverappraiser]

Re: WF A Cut Above appraised as very good cut. Does it matte

I, of course, can't speak for other appraisers or on a stone that I haven't seen but this sounds like an error. The 'specialized tool' that AGS is using is called a Sarin machine and they're VERY good at spotting symmetry type problems (an off center culet is a symmetry ding). It sounds like she just screwed up, and it sound like she's prepared to fix it.

The report should reference both Whiteflash and AGS directly, if nothing else because they put a girdle inscription on the stone about both. The description portion of the appraisal report should include sufficient information to replace the stone with 'like kind and quality' in the case of a loss and, obviously, both of these are relevant. Branding matters at replacement time so it matters at appraisal time.

This actually raises a couple of options that come up occasionally.

1) If the appraiser thinks it's the wrong stone, damaged, or otherwise not what's described by the lab.
2) The appraiser thinks the lab made an error of some sort.

Both are rare and they are both what the jewelers would rightly call 'fighting words'. Both do happen. It doesn't sound like neither of those apply here but in both cases they should be extremely specific about what their problem is. This is step one of a fight and a vague statement about the culet is not sufficient. When she told you her findings, did this lead to a conversation?

 

[diamondseeker2006]

Re: WF A Cut Above appraised as very good cut. Does it matte

Why did you even get this appraisal if Jeweler's Mutual accepted your information from Whiteflash for insurance purposes? The sales info and AGS report which designate the stone as AGS Ideal Cut...A Cut Above branded stone are what is needed to replace that stone. An appraisal that calls it "excellent cut" will NOT get you an ACA replacement. She is just plain wrong, for one thing. If she bothered to look at your information and the images of that stone on their webpage, she could see that it is a perfectly proportioned stone and certainly does not have an off center culet.

If this was my situation, I would tell her this is unsatisfactory and you do not want her appraisal because it will not serve any purpose whatsoever.

 

[Grade1View]

Re: WF A Cut Above appraised as very good cut. Does it matte

Hi Denver. I'm not sure what to make of the whole process. Its the only appraisal I have ever witnessed, so I'm not sure what is normal and what is not. I can tell you that I was asked to bring the diamond cert and purchase receipt, but she never looked at them (I dont know if this is to aide objectivity and prevent bias?). I suspect the final appraisal will list the item as an ACA branded stone. If it does not, I will not accept it.

The cut conversation went like this: She went through various ratings for the stone, most of which matched up with what I was expecting to hear, until the issue of cut. She rated it Very good. I said "Whats your take on the difference between the AGS cert that rates it Ideal versus what you see? This is WF's brand of top tier ideal cuts." That information didn't seem to mean much to her. Like I said before I got the impression she wasn't familiar with the a cut above designation. That is when she told me the culet is off center, and that is why she rated it that way, and then moved on to the next topic. I didn't push the issue after that. As I said I didn't know if discrepancies were normal or not.

She made a few corrections based on info I read to her from the AGS cert. She estimated the stone to be 1.7-1.8xx carats. I provided her with the true carat weight of 1.67. It also appeared she struck and re-wrote the final 3-4 numbers of the laser inscription based on what I read to her from my cert. Is it normal to have difficulty reading and transcribing the inscription?

Of the two options you listed- I hope neither are applicable. She said that she doesn't have a problem listing it as an excellent cut. I guess that means that either 1) she believes she could have made an error or 2) she doesn't feel that strongly about proving her point and is just going to give me whatever rating I ask for. I'm hoping #1 is driving her.

Seeker- I got the appraisal because the first time I went on JM website, it said that they do not service my zip code. As such I could not purchase the insurance from them. I'm not sure why it said that, since I'm in the U.S. I got the appraisal in order to prepare for applying with a different company. I got back on the JM website to check again, and was able to successfully apply for coverage. I don't know why their system excluded my zip code the first time.

 

[drk14]

Re: WF A Cut Above appraised as very good cut. Does it matte

I bought that insurance, which values the piece at a figure I believe would allow me to replace this jewelry. Jewlers Mutual never asked for an appraisal, I assume because they got the info they need from White Flash? Now that the item is covered, I'm not sure if I should even submit this appraisal to them or not? I'm very new to high dollar jewelry. If this appraisal values the jewelry at less than my policy does, what should I do?

In your Policy Declaration that you should have received (or will soon receive) from Jewelers Mutual, look at the "Description of Item" under the "Scheduled Jewelry" section. This description specifies exactly what JM is prepared to replace your diamond with (assuming the cost of doing so does not exceed your limit of insurance), if your original diamond is ever lost or damaged.

Thus, they are only required to replace your diamond with an ACA if the "Description of Item" explicitly mentions the ACA brand. If this information is missing from the description, or if any other part of the description does not match your expectations, you can ask them to adjust the description. But the catch is, you need to provide documentation to prove that any changes you are requesting to the item description are in fact accurate -- submitting an appraisal and/or a detailed sales receipt can serve this purpose. You can also submit an appraisal to support a request to raise the insured value (if you are certain that it would cost more than your current insurance limit to replace the diamond with an equivalent one), or to lower the insured value (if you think you can get an equivalent diamond for less than the current insurance limit).

If you are happy with both the insured value and the item description in your Policy Declaration, you do not need to send an appraisal to JM.

Good luck!



P.S. With regards to making adjustments to the insured value, there are additional complications related to the fact that appraisers often estimate what it would cost for you as a consumer to purchase an equivalent diamond at a high-end brick-and-mortar retail store, while the insurance company have ways of sourcing diamonds at a discount. This can sometimes result in your premiums being higher than they need to be. I don't know too much about how all of that works, or how to factor such considerations into any attempt to minimize your premium payments (while maintaining adequate coverage), but perhaps some of the experts here will be able to explain. If your premium is not unreasonably high, I would just go with a conservative estimate of the value.

 

[drk14]

Re: WF A Cut Above appraised as very good cut. Does it matte

The title says it all. I recently purchased a round brilliant ACA stone from White Flash. The stone and setting look awesome, I'm very happy with the product. However, I took the stone in for an independent appraisal, and she graded the cut as Very Good due to something about the culet.

It sounds like your diamond was already set and that the appraiser was working with the finished ring, not with the loose diamond. If this is the case, it can be very difficult to accurately appraise the center diamond, and some of the discrepancies you have reported are likely due to this circumstance. Do you have a link to the setting? This might help in ascertaining how likely it is that the problems encountered in assessing cut grade and carat weight were due to inherent challenges in appraising a set stone versus any limitations in the appraiser's skills. As far as the girdle inscription, is it possible that the last few digits were obscured or partially obscured by a prong?

Although this advice comes too late to help the OP, for future reference, I recommend getting the loose diamond appraised before it is set, and then having the complete ring appraised after the center diamond has been set. Some appraisers (e.g., David Atlas) only charge a fee for the first appraisal, and I believe others may at least offer a discount on the second appraisal (of the complete ring) -- definitely worth inquiring about for anybody out there getting ready to purchase a loose diamond for a ring. This makes it much easier to get an accurate appraisal of the diamond itself, and it provides better protection of the diamond during the setting process (because your insurance policy will more accurately reflect the type of replacement diamond you can get in the unlikely event that the stone is damaged during setting).

 

[denverappraiser]

Re: WF A Cut Above appraised as very good cut. Does it matte

I'm a big fan of proper appraisals and I regularly disagree with some of the prosumers on this issue. I suppose that's no great surprise. I think there's great value in getting an outside pair of eyes to look at it for quality control purposes if nothing else. It's not a second opinion if it comes from the same source as the first. Aside from the quality control topics, the appraisal session also provides an opportunity to ask questions about what your seller did or didn't say in the sales presentation. Again, it's not a second opinion if it comes from the same source as the first and the fact that they don't have a financial interest in the deal can add credibility. Lastly, professional appraisers USUALLY write more thorough reports than sellers. It's not that they can't or that it's even all that difficult. Some sellers even do write pretty good documents, but most people don't do their best work for 'free'.

To answer some specific questions:

The girdle inscriptions are rather small and in a weird font. Yes, it's easy to screw them up.

ACA is a small brand. Whiteflash is a one store company and as popular as they are here on PS, they're not a giant player in the diamond business. For people outside of the Pricescope community, I can see how they wouldn't recognize the name. The same thing happens with the HCA and Idealscopes. These things are well entrenched here but outside of PS they're pretty unusual.

 

[Rhino]

Re: WF A Cut Above appraised as very good cut. Does it matte

This is extremely important. It is true that there are AGS Ideal's that don't make GIA Ex but not necessarily for the reasons stated. I have noted differences in grades based on girdle measurements between the two labs, proportional differences as well as their independent tolerances for painting and digging but for culet?

There are so many appraisers out there who do NOT, unfortunately properly perform the duties of their job and actually *research* the products they appraise. More than once we've encountered appraisers who will appraise ideal cut fancies akin to the least expensive cuts on the market with no knowledge of what makes a diamond ideal or not. Very frustrating.

I'm curious to see the appraisers reasoning.

Regards,
Rhino

 

[Texas Leaguer]

Re: WF A Cut Above appraised as very good cut. Does it matte

Hi Grade1,
It does appear from what you have posted about the appraisal that the appraiser's error is due in part to the fact that the diamond was set. That should not be a reason for a contradictory finding though. Essentially the appraiser was trying to do too much with too little information. Denver can correct me if I am wrong but when appraising a set diamond with a certificate from a top tier lab, the appraisers job shifts to more of a verification role. They take whatever measurements they can to detect possible differences between the details of the report and what they are seeing and measuring, and looking at the stone for any possible damage, etc. Off center culet would not be something that they would typically be making a judgment on in a set diamond if all other data suggested that it is a match to the certificate. Assessing the culet alignment is something that is part of the lab procedure.

While an appraiser might want to initially review the diamond without influence of the clients paperwork, they certainly should avail themselves to the information as a cross-check of their findings,to prevent finalizing a document that may prove problematic for the client, and as Denver suggested to provide talking points to make sure you have a full understanding of your diamond and the transaction. Also, appraisers learn new things by looking at documents such as a proprietary report from AGSL on a branded diamond, not to mention that branding does impact price, value and insurance replacement.

Hopefully you are getting this all sorted out. It may please you to know that by documenting your appraisal journey here you have probably shed alot of light on the process for a whole lot of folks who are also new to this entire business!

 

[Sundial]

Re: WF A Cut Above appraised as very good cut. Does it matte

Not long ago I had my new Brian Gavin Signature diamond appraised in its setting by an independent local appraiser. I needed this for my insurance carrier and I had it done after the diamond was set in order to avoid paying additional shipping charges. The appraiser requested that I bring the AGS report with me and not only did he look at it, he attached it to his appraisal. Although I had no concerns about buying from such a reputable vendor it was nice to have verification that I received the stone that I paid for and the fee was very minor in comparison to the value of my ring.

 

[WinkHPD]

Re: WF A Cut Above appraised as very good cut. Does it matte

Not long ago I had my new Brian Gavin Signature diamond appraised in its setting by an independent local appraiser. I needed this for my insurance carrier and I had it done after the diamond was set in order to avoid paying additional shipping charges. The appraiser requested that I bring the AGS report with me and not only did he look at it, he attached it to his appraisal. Although I had no concerns about buying from such a reputable vendor it was nice to have verification that I received the stone that I paid for and the fee was very minor in comparison to the value of my ring.

Sundial, you give good and wise council with your post. Frankly, I am surprised how few of my clients ever ask me to send a diamond to an independent appraiser for them. Last year was my best ever, and I think I sent less than 2% of my diamonds to an independent appraiser.

This being true, I write a LOT of "Evaluations for Insurance Purposes" commonly called appraisals. While appraisal organizations do not like this, I state in my limiting conditions that I was involved in the sale and I believe that NO ONE knows more than I do about the cost of my diamond and the cost of my mounting and its retail value in my market.

Although I see a lot of appraisals with out it, I can not imagine not including the Laboratory report number and findings in the report. With the relatively new Proprietary reports from AGS the name of the branded stone will be right on the report, so that even if the appraiser does not properly put the brand name in the appraisal, it is in the report which is part of the appraisal. Not putting all pertinent information, such as brand names of both the diamond and the mounting is one of the most common errors I see from less than competent appraisers.

These are things that I consider to be a minimum level of requirement for the evaluation document, and it does not come close to the level of a report written by someone like DenverAppraiser. I am sure he can tell us of some of the ramifications he has had to deal with, in and out of court, that a sloppy appraisal can lead to. If your appraisal is properly written, it can stand up to the most penny pinching adjuster on the planet. If it leaves out crucial information, you are at the mercy of the adjuster, not normally a good place to be.

Wink

 

[diamondseeker2006]

Re: WF A Cut Above appraised as very good cut. Does it matte

Wink, you guys that sell superideal cuts know more about writing what is important in an insurance valuation that any other jeweler who routinely writes these kinds of evaluations. If Neil lived in my town, it might be nice to have all my jewelry appraised by an expert appraiser. But when I spend thousands of dollars on a top quality stone, I do not care to pay for shipping to and from a great appraiser plus the appraisal fee because I already have good verification of what the diamond is from my sales receipt and AGS report. A local appraisal would be worthless as far as I am concerned. This situation is the perfect example! Most of us outside major cities simply do NOT have access to a great local independent appraiser familiar with superideal cuts and specialty cuts because they are so rare.

One reason I am happy to buy ACA's, GOG signature and specialty cuts, CBI, etc. is because I KNOW the cut quality and I am paying a premium for it already. I 100% trust the vendors selling the stones. I can compare prices myself. I don't need an outside appraisal with you, Bryan, Jonathan,etc.

 

[WinkHPD]

Re: WF A Cut Above appraised as very good cut. Does it matte

Wink, you guys that sell superideal cuts know more about writing what is important in an insurance valuation that any other jeweler who routinely writes these kinds of evaluations. If Neil lived in my town, it might be nice to have all my jewelry appraised by an expert appraiser. But when I spend thousands of dollars on a top quality stone, I do not care to pay for shipping to and from a great appraiser plus the appraisal fee because I already have good verification of what the diamond is from my sales receipt and AGS report. A local appraisal would be worthless as far as I am concerned. This situation is the perfect example! Most of us outside major cities simply do NOT have access to a great local independent appraiser familiar with superideal cuts and specialty cuts because they are so rare.

One reason I am happy to buy ACA's, GOG signature and specialty cuts, CBI, etc. is because I KNOW the cut quality and I am paying a premium for it already. I 100% trust the vendors selling the stones. I can compare prices myself. I don't need an outside appraisal with you, Bryan, Jonathan,etc.

I and others mentioned will be thinking fond thoughts of you this weekend for your kind words. We all work hard for the trust that you have in us, and we have taken years to earn it. It is why I send less than 2% of my diamonds to an independent appraiser, even though it never ceases to amaze me and please me at the same time.

Actually reading your kind assessment of our gems and our ethics is so rewarding that it is hard to adequately express.

Wink

 

[Modified Brilliant]

Re: WF A Cut Above appraised as very good cut. Does it matte

It's important for consumers to know that outside the PS community (as others have stated) there are consumers, appraisers and retailers who do not know what ACA, HCA, BGD, WF, GOG, OMC, OEC represent. However, if an appraiser is listed on Pricescope, they should be familiar with most or all of the branded diamonds sold by vendors here. That's just important information to know and to better serve their appraisal clients. My take is that it's in the clients best interest to put all information and documents out there to include in the appraisal and that is the conversation that I have. And as others have stated, if the diamond is set and there are some difficulties in viewing certain characteristics....then it should be more of a "verification" process using the available documentation rather than a "guessing" process. Again, it's in the clients best interest.

 

[Karl_K]

Re: WF A Cut Above appraised as very good cut. Does it matte

It's important for consumers to know that outside the PS community (as others have stated) there are consumers, appraisers and retailers who do not know what ACA, HCA, BGD, WF, GOG, OMC, OEC represent. However, if an appraiser is listed on Pricescope, they should be familiar with most or all of the branded diamonds sold by vendors here. That's just important information to know and to better serve their appraisal clients. My take is that it's in the clients best interest to put all information and documents out there to include in the appraisal and that is the conversation that I have. And as others have stated, if the diamond is set and there are some difficulties in viewing certain characteristics....then it should be more of a "verification" process using the available documentation rather than a "guessing" process. Again, it's in the clients best interest.

Google knows however and I would think very poorly of a an appraiser that did not take the time to research that or just ask the client if they mention something they are not familiar with.

 

[diamondseeker2006]

Re: WF A Cut Above appraised as very good cut. Does it matte

Wink, you guys that sell superideal cuts know more about writing what is important in an insurance valuation that any other jeweler who routinely writes these kinds of evaluations. If Neil lived in my town, it might be nice to have all my jewelry appraised by an expert appraiser. But when I spend thousands of dollars on a top quality stone, I do not care to pay for shipping to and from a great appraiser plus the appraisal fee because I already have good verification of what the diamond is from my sales receipt and AGS report. A local appraisal would be worthless as far as I am concerned. This situation is the perfect example! Most of us outside major cities simply do NOT have access to a great local independent appraiser familiar with superideal cuts and specialty cuts because they are so rare.

One reason I am happy to buy ACA's, GOG signature and specialty cuts, CBI, etc. is because I KNOW the cut quality and I am paying a premium for it already. I 100% trust the vendors selling the stones. I can compare prices myself. I don't need an outside appraisal with you, Bryan, Jonathan,etc.

I and others mentioned will be thinking fond thoughts of you this weekend for your kind words. We all work hard for the trust that you have in us, and we have taken years to earn it. It is why I send less than 2% of my diamonds to an independent appraiser, even though it never ceases to amaze me and please me at the same time.

Actually reading your kind assessment of our gems and our ethics is so rewarding that it is hard to adequately express.

Wink

That was such a sweet reply, Wink! I meant what I said.

 

[pyramid]

Re: WF A Cut Above appraised as very good cut. Does it matte

It is a big world, I remember asking a high class jeweller in the UK about ten years ago about diamonds and said after reading the internet that I wanted a GIA certificate and he looked puzzled at me and said but that stands for america, in the UK we use the HRD lab and find it grades correctly. They just weren't interested to hear of cut grading either and no one here seems to know about it although one of the chain stores which had over 150 stores at one point have just come out with a hearts & arrows cut which will probably be forgotten about soon.

 

[drk14]

Re: WF A Cut Above appraised as very good cut. Does it matte

While the philosphical discussion in this thread is interesting and valuable, I think that much of it is not relevant to OP, who is concerned about how his insurance coverage from JM will be affected. Having recently purchased insurance from JM, I can tell you that although JM does keep copies of any submitted appraisals "on file", Jewelers Mutual's Perfect Circle insurance policy does not reference any appraisal report, nor allow for any appraisal report to actually be attached to the policy.

IANAL, but I would take the insurance policy document to be the only legally binding contract that defines the rights and obligations of both parties, and the relevant language is as follows:

Our Loss Settlement Options: "We" may at "our" option: (a) repair, replace, or rebuild the "covered property"; or (b) settle based on the actual cash value of the "covered property" at the time of loss.

"Covered property" means items shown on the declarations page under Scheduled Jewelry.

That is what I tried to explain in my advice to OP above:

In your Policy Declaration that you should have received (or will soon receive) from Jewelers Mutual, look at the "Description of Item" under the "Scheduled Jewelry" section. This description specifies exactly what JM is prepared to replace your diamond with (assuming the cost of doing so does not exceed your limit of insurance), if your original diamond is ever lost or damaged. Thus, they are only required to replace your diamond with an ACA if the "Description of Item" explicitly mentions the ACA brand.

So, while I'm also a fan of proper independent appraisals, in my opinion, the accuracy of the Policy Declaration page is a far more important concern when it comes to piece of mind.

 

[Grade1View]

Re: WF A Cut Above appraised as very good cut. Does it matte

Hey All--

Thanks a lot for all the help and insight you have all provided. I will certainly update when I receive the final appraisal report. Perhaps she is doing some research on the stone prior to writing up the report. I'll let you know how it transpires.

DRK- Thank you very much for your help with the insurance info. My application must still be going through the underwriting process, so I can't access the policy declaration page yet, but as soon as it is finalized I will make sure all the appropriate information is there. I saw the figure that they placed on the piece while I was filing the application and it seemed fair to me.

I figured I might as well show some pics so everyone can see the ring we are talking about.

 

[Sundial]

Re: WF A Cut Above appraised as very good cut. Does it matte

Good luck with the appraisal. You certainly did well on the ring. It is absolutely gorgeous!!!

 

[pfunk]

Re: WF A Cut Above appraised as very good cut. Does it matte

Gorgeous ring! Which setting is that? It is such a nice look.