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»  » Diamond Prices and Grading »
 » RockyTalky
»  » insurance for re-set stone lacking its own replacement value pre-resetting?
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insurance for re-set stone lacking its own replacement value pre-resetting? |
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| P: 5/29/2007 12:34:39 PM | |
erica k Ideal Rock Total Posts: 782 Last Post: 10/30/2009 Member Since: 11/1/2006 |
My dad bought a ring from the jewelers district in LA. All he has is a receipt that has a written description: "Platinum ring with 1.56 ct Princess cut diamond and 1.01 ct round center diamond, G SI1, GIA # 12133671" There isn't a corresponding GIA certificate for the diamond, or a replacement value for the stone by itself. My mom gave me the center stone to re-set for my own use. I have the receipt/replacement value for the setting, but the stone's replacement value is a mystery. I checked the GIA report online, and this is what supposedly corresponds to my stone: Report Type: GIA Diamond Grading Report Date of Issue: July 12, 2002 Round Brilliant Measurements: 6.06 - 6.15 x 4.18 mm Carat Weight: 1.01 Color Grade: G Clarity Grade: SI1 Proportions: Depth: 68.5 % Table: 54 % Girdle: Slightly Thick to Very Thick, Faceted Culet: None Finish: Polish: Good Symmetry: Good Fluorescence: None Comments: Crown angles are greater than 35 degrees. As you can see, this is not a well cut stone. It faces up really really small, the table bothers me, there's definite leakage, there's a black hole in the center, etc (but it sparkles nevertheless). Since it was a gift from my mom, who wanted me to have a 1ctw diamond (not understanding that ctw doesn't equal size appearance), I couldn't really refuse the stone. I don't consider this a replacement e-ring, but I like wearing the matching set once in awhile. Normally when I add a piece of jewelry to my homeowners insurance, I simply send in a copy of the replacement value letter or receipt. In this case, I don't know what the replacement value of the stone would be. The price of the original setting plus stone isn't very helpful in this case, and I'm not even sure if the GIA report corresponds to the stone (although it certainly looks like it!). So what should I do? The ring was re-set in California while I was visiting my family. I probably should have asked the jeweler to do a replacement value appraisal (they have AGS jewelers on their staff), while the stone was un-mounted. At the time, my mom said she had all the paperwork for the ring but couldn't find it. I assumed all the pertinent information would be there and wouldn't need to request an appraisal during the re-set. When she did find it much later, all she had was the receipt.  There's something else that makes the situation worse.  Just after I received the ring in the mail, I hit the stone against my desk because I was unused to the much higher setting. Paranoid, I felt the girdle to see if anything had happened. I felt two tiny chips on the girdle.  Stupidly, I had never checked the stone out for any chips or cracks before this happened. I'm going to assume it was my fault rather than hypothesize that they occurred earlier. But anyway, this will clearly affect the value of the stone and is not accounted for in the GIA report.So, should I just go to a jewelers shop and have the replacement value appraised by a certified gemologist? Do I need to go to an independent appraiser? All I want is to have the ring insured. I don't think the stone will be worth much and therefore would prefer not to spend too much time, money, or effort. By the way, I'm in the Boston area. 
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| Posted: 5/29/2007 12:34:39 PM | |
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There are 2 replies to this message. There are 2 replies on this page. |
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| P: 5/29/2007 12:44:50 PM | |
Chrono Ideal Rock Total Posts: 11,303 Last Post: 11/22/2009 Member Since: 4/22/2004 |
If you want a detailed report, it is best to go to an independent appraiser where he might have to unmount the stone. The report will most likely be very detailed and if anything should happen to the diamond, everything is clearly spelled out that this would be the minimum requirement in event of a replacement. Your other option is to bring it back to a jewellery shop and have a GG write up an appraisal report. The 2nd option will give you a very brief and short report which might be sufficient for insurance purposes where the replacement will probably not be the best stone but at least you'll have something.
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| Posted: 5/29/2007 12:44:50 PM | |
| P: 5/29/2007 2:47:34 PM | |
oldminer Ideal Rock Total Posts: 4,964 Last Post: 11/20/2009 Member Since: 9/4/2000 |
Its pretty obviosu that this is a diamond, but not a super fine one. Don't spend a ton of money to get a full bore report when you just need a rather less complete appraisal sufficient only to describe the diamond and its mounting. It isn't like you are going to change the diamond based on the report, but you just want to cover it. Ask the appraiser if the stone is chipped BEFORE you go for the appraisal fee. If there is a problem, go back to the original seller with the "problem" if at all possible.
David S. Atlas |
| Posted: 5/29/2007 2:47:34 PM | |
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