A Cut Above H&A - appraisal

[Arlington]

The Whiteflash website stated that they provide independent verification:

"Every diamond and/or ring that is sold by Whiteflash.com is primarily inspected by our in house expert. In addition, every loose diamond and/or diamond ring is personally inspected by an independent appraiser who issues a signed Letter of Verification confirming:

The weight/color/clarity of the diamond and that all measurements match the original grading document from AGS, GIA or EGL.
Laser inscriptions (where they apply)
Setting details
Approximate retail replacement value.

This Letter of Verification accompanies your purchase, confirming the contents of your package and ensuring your secure shopping experience."

Clearly this isn''t a full-blown appraisal..but does it make having a diamond independently appraised before or after purchase redundant and a waste of $100-$150? I''ve seen so many posts with positive ACA H&A experiences that I''m fairly confident that I''m not getting "taken" -- but then again I imagine a good independent appraiser do more than just make sure the cert matches the rock.

Any opinions out there? Please??

 

[Rank Amateur]

It's up to you. I look at it more as peace of mind if I'm dealing with an unknown vendor. You may feel comfortable with the Whiteflash appraisal and if your insurance carrier doesn't mind the appraisal coming from an interested party, then you certainly don't "need" another opinion. You might just talk to your insurance agent about your coverage and what it requires.

Also, I would be suspicious if it "appraises" for too much more than it was purchased.

 

[aljdewey]

Actually, I think Leonid pointed out previously that appraisers have a basic service.....make sure the stones matches the cert.....for about $30-40, or a full-blown appraisal.

Your call on getting the full appraisal......I trust many of these vendors, too, but even THEY will tell you to get an independent appraisal. If you're spending thousands for a stone, the extra $100-$150 is negligible to assure your money is well-spent.

 

[ringbling17]

HI,
I purchased a diamond from Whiteflash and it is my understanding that for now on, if you decide to have the diamond appraised by an idependent appraiser of your choosing, they will no longer send out their own independent letter of verification.
Also, if you choose to have the diamond sent out to your appraiser, they will only give you that shipping for free, any other shipping will be incurred by you (ie: sending diamond to be set, having the diamond shipped back to Whiteflash from the appraiser/ setter, having the diamond sent to you, etc.). Just wanted to let you know, because I was not aware of these new policies.
I had my diamond sent to D Atlas prior to purchasing it from Whiteflash.
It gave me peace of mind, even though I trust Whiteflash very much.
You can either do two things, either accept the diamond with their letter of verification and then have it appraised when you recieve it, or you can have Whiteflash send it to an appraiser prior to sending it out to you.
As far as insuring your ring, I know Chubb does not require an appraisal for any item under $50,000. All they require is a good detailed description and the amount that you would like to insure it for. In case of a loss or theft, they supposedly just cut you a check for the amount insured.
Other insurance companies, such as State Farm, definitely require a very indepth appraisal, because without one, they will just replace your ACA with any ideal cut diamond that they feel matches your description.
By the way, the letter of verification from Whiteflash is extremely detailed and gives an exact description of the item and I thought the appraisal amount was fair, not too much more than what I paid.
If anything, the appraisal I got from D Atlas was way above what I actually paid.

 

[Richard Sherwood]

I view it two ways.

One, if you trust the dealer, feel like you're getting a good price, and are pretty certain the stone has no negatives, then I see nothing wrong with using their appraisal.

Two, if you don't know enough about the dealer to know whether to trust them or not, are not sure if you're getting a fair price, and aren't certain the stone has no negatives, then I would get the appraisal.

Human nature always creeps into the picture when a sales situation is taking place. It's next to impossible to keep it out. Human nature up-plays the positives and downplays the negatives. It is a very hard tendency to completely counteract.

An independent appraiser however, doesn't have to fight this tendency, because he is not emotionally involved in the sale of the diamond. He doesn't have a monthly goal to reach. He doesn't have to worry about job security. His salary isn't affected by the sale or non-sale of the diamond. He doesn't have a boss sitting on his shoulders. He doesn't have cash tied up in old or problem inventory. He doesn't have the deadline pressure of paying the rent, the employees or a large inventory payment.

Consequently, he can comfortably tell you all the positives and negatives. And you can acquire a comfortable peace of mind regarding a multi-thousand dollar purchase for about a hundred dollars, plus one shipping charge.

One other note- Not everyone you're dealing with is a gemologist. In fact, probably a minority are. They quote from reports made by gemologists, pass along comments made by gemologists, and pass judgement based on their own experience, but often they themselves are not a gemologist. As such, they might not always see the whole picture, and inadvertently leave out a critical piece of information because they didn't recognize it as such. Unintentional, but it happens.