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» INSURANCE v REALITY.....

INSURANCE v REALITY.....

P: 4/11/2008 1:13:13 AM
pmptrading Rough Rock Total Posts: 50 Last Post: 4/19/2008 Member Since: 4/10/2008	Hello, I can't understand why there is such a huge difference between ACTUAL price paid and INSURANCE valuation..... Why is the Insurance figure so much higher - and too think I thought I was just a clever shopper! Isn't the insurance figure just a lie? “I never worry about diets. The only carrots that interest me are the number of carats in a diamond.”
Posted: 4/11/2008 1:13:13 AM

There are 4 replies to this message. There are 4 replies on this page.

P: 4/11/2008 1:39:36 AM
lisa1.01fvs1 Ideal Rock Total Posts: 1,101 Last Post: 9/4/2009 Member Since: 1/17/2008	Sometimes appraisers give you an inflated figure of what the item is worth. I think they want you to think you got a great deal. You should provide what you paid for the item, sometimes this comes in a valuation letter. As this is the dollar amt. you'll want to recover and not pay extra insurance for an inflated appraisal for years. The appraisal simply insures that in the event of loss you are supplied with the same item as described by appraisal. 4 c's and all that.
Posted: 4/11/2008 1:39:36 AM

P: 4/11/2008 1:52:36 AM
arjunajane Ideal Rock Total Posts: 7,779 Last Post: 11/23/2009 Member Since: 1/18/2008	Hi, I would suggest you read this thread http://www.pricescope.com/idealbb/view.asp?topicID=82508 And there is another thread just yesterday about the same topic - I will find it ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ "And let today embrace the past with remembrance and the future with longing." Kahlil Gibran
Posted: 4/11/2008 1:52:36 AM

P: 4/11/2008 3:22:18 AM
arjunajane Ideal Rock Total Posts: 7,779 Last Post: 11/23/2009 Member Since: 1/18/2008	here is the other one which is current and has very good info http://www.pricescope.com/idealbb/view.asp?topicID=82817 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ "And let today embrace the past with remembrance and the future with longing." Kahlil Gibran
Posted: 4/11/2008 3:22:18 AM

P: 4/11/2008 3:51:53 PM
Modified Brilliant Ideal Rock Total Posts: 1,148 Last Post: 11/21/2009 Member Since: 3/24/2005	Date: 4/11/2008 1:39:36 AM Author: lisa1.01fvs1 Sometimes appraisers give you an inflated figure of what the item is worth. I think they want you to think you got a great deal. You should provide what you paid for the item, sometimes this comes in a valuation letter. As this is the dollar amt. you'll want to recover and not pay extra insurance for an inflated appraisal for years. The appraisal simply insures that in the event of loss you are supplied with the same item as described by appraisal. 4 c's and all that. This may be true if the appraiser is the "seller" but independent appraisers are unbiased and have no interest in overvaluating an item. We just want to make sure that you understand how we arrive at our valuation conclusion. Jeff Averbook,GG Graduate Gemologist since 1986 www.metrojewelryappraisers.com Jeff Averbook, G.G. Graduate Gemologist since 1986. Member NAJA. Life Member AIN.
Posted: 4/11/2008 3:51:53 PM

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