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»  » Diamond Prices and Grading »
 » RockyTalky
»  » Get third party appraisal or use in-house?
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Get third party appraisal or use in-house? |
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| P: 8/24/2004 11:15:30 AM | |
kanderna Rough Rock Total Posts: 2 Last Post: 8/25/2004 Member Since: 8/24/2004 |
Hi all, I attempted a search on this and came up with very little. Might be because I was looking for Blue Nile specifically. I recently purchased from Blue Nile, and they provided an appraisal. Do I use this appraisal for insurance purposes, or do I get another opinion? Thanks! K.a.
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| Posted: 8/24/2004 11:15:30 AM | |
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There are 8 replies to this message. There are 8 replies on this page. |
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| P: 8/24/2004 11:48:29 AM | |
lmurden Ideal Rock Total Posts: 2,101 Last Post: 6/4/2006 Member Since: 5/3/2004 |
I just got my engagement ring from Blue Nile one week ago and I am doing the insurance through Chubb and I used the Blue Nile appraisal and it took about 2 minutes on the phone and yesterday I just got a packet from Chubb. The only thing is that I am getting another appraisal ($75.00) today after work because I wanted to get in-depth digital pictures of my ring and to verify that everything is kosher. If everything matches then tomorrow I will pay my Chubb Insurance off completely by using their online service. I hope this helps and hopefully I will be able to post my pictures.  LM |
| Posted: 8/24/2004 11:48:29 AM | |
| P: 8/24/2004 12:26:28 PM | |
ame Ideal Rock Total Posts: 3,452 Last Post: 2/7/2006 Member Since: 7/7/2004 |
Id get a second opinion just to be sure.
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| Posted: 8/24/2004 12:26:28 PM | |
| P: 8/24/2004 12:27:32 PM | |
denverappraiser Ideal Rock Total Posts: 4,614 Last Post: 11/22/2009 Member Since: 7/21/2004 |
Kanderna The appraisal that you submit to the insurance company becomes s a critical part of your insurance contract. It documents exactly what the item is on a particular date and attaches a price to that description. One or both of these will be used if there is ever a need to file a claim. In many cases, the selling jeweler can supply documentation that will fill this need although they shouldn’t really be calling these documents ‘appraisals’. If this is your purpose for getting an appraisal done, it’s very possible that the documents supplied by the jeweler are sufficient. Read them over carefully to see if they contain all of the things that you find important about your jewelry. Pay particular attention to lab report references, jewelry designers, style numbers, descriptions of all materials used, photographs, diamond cut information and other things that may be necessary to make you whole again should a claim situation ever arise. There are, of course, other reasons to have appraisals done where these documents are not applicable. Neil Beaty, GG ISA Independent Appraisals in Denver There's never a crowd when you go that extra mile. |
| Posted: 8/24/2004 12:27:32 PM | |
| P: 8/24/2004 12:39:33 PM | |
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lmurden Ideal Rock Total Posts: 2,101 Last Post: 6/4/2006 Member Since: 5/3/2004 |
ame, Did everything pretty much match? LM |
| Posted: 8/24/2004 12:39:33 PM | |
| P: 8/24/2004 9:35:14 PM | |
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yowahking Cut Rock Total Posts: 317 Last Post: 11/13/2004 Member Since: 8/16/2004 |
It is not even legal to accept an appraisal for your house from the seller of the house. Personal property is way behind in understanding the problems. Unfortunately, most insurance companies accept appraisals that are done by people who are not appraisers, or are tied to only one place, or who have only the sellers interest in mind. If your appraisal is overblown, you will pay too much in premiums. If that same ring is stolen, you will not recover overpayment of premiums. If the ring is underappraised, your insurance will be happy to give you less money than it takes to replace your diamond. Find a good appraiser, pay him his fee, and enjoy your new ring.
Scott Bohall |
| Posted: 8/24/2004 9:35:14 PM | |
| P: 8/24/2004 11:35:22 PM | |
Richard Sherwood Ideal Rock Total Posts: 4,879 Last Post: 11/23/2009 Member Since: 9/25/2002 |
When you use an independent appraiser's services, it is the only time in the entire purchasing process that somebody is employed directly by you to work on your behalf. Sometimes that difference is crucial. Rich, Independent GG Appraiser |
| Posted: 8/24/2004 11:35:22 PM | |
| P: 8/25/2004 1:46:58 AM | |
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kanderna Rough Rock Total Posts: 2 Last Post: 8/25/2004 Member Since: 8/24/2004 |
Thanks all! Now...does anyone know any appraisers in the state of IA (Cedar Rapids area)? There are none listed, and the yellow pages yield no results either.
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| Posted: 8/25/2004 1:46:58 AM | |
| P: 8/25/2004 8:40:31 AM | |
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denverappraiser Ideal Rock Total Posts: 4,614 Last Post: 11/22/2009 Member Since: 7/21/2004 |
K.A. Katherine Vandygriff, 563-264-0697, is a very knowledgable appraiser in Muscatine although she's not an independent (she works for a jewelry store). She can probably help you find someone a little closer to home or she may be able to help you out from there. She surely knows who is in the area. Several of us on the forum are happy to work with out of state clients. I do this and I know that Rich in Florida and Dave in Pennsylvania will be happy to do the same. Neil Beaty, GG ISA Independent Appraisals in Denver There's never a crowd when you go that extra mile. |
| Posted: 8/25/2004 8:40:31 AM | |
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