Any point in seeing an Appraiser twice? (before and after setting)

[saints25]

Hi all. I''m planning on having an appraiser check out my diamond when I but it to make sure a) it''s the diamond listed, b) to verify GIA''s specs and c) for insurance purposes. Is there any point in going back after setting?

I''d prefer not to since it costs extra to go back. I don''t think this is needed for insurance purposes. What do you all think?

I''m in the process of finding an appraiser in NY so feel free to suggest anyone (I have used the search function here to look into that as well.) Unfortunately David Wolfe is on vacation and I might need it done before then.

Thanks.

 

[dockman3]

I would say that you should only appraise it after it has been set and not before. The appraisal after the ring is set would be for insurance purposes and they can check the stone at that point too. I don't see any reason to get it appraised twice and getting appraised before it is set won't get you a true valuation of the ring itself. That is the value you need for insurance, not just the value of the diamond.

ETA: If you are really worried about checking the GIA specs, they can do just about all of that while the stone is mounted. At the very least, they can certainly confirm the identity of the stone and match it to the GIA report. I still say only one appraisal is necessary, and that should be after the ring is set.

 

[cdndman]

I guess that would depend on the cost of the ring itself.... personally I got the diamond appraised to verify the specs... and once the ring is completed i''ll then go get an appraisel done to give me the replacement value for insurance.... it doesn''t make sense to me not to include the entire ring in the insurance appraisel...

 

[SYC]

Date: 7/31/2008 1:01:04 PM
Author:saints25
Hi all. I''m planning on having an appraiser check out my diamond when I but it to make sure a) it''s the diamond listed, b) to verify GIA''s specs and c) for insurance purposes. Is there any point in going back after setting?

I''d prefer not to since it costs extra to go back. I don''t think this is needed for insurance purposes. What do you all think?

I''m in the process of finding an appraiser in NY so feel free to suggest anyone (I have used the search function here to look into that as well.) Unfortunately David Wolfe is on vacation and I might need it done before then.

Thanks.

For insurance purposes, you need to go back after it has been set so you can get the value of the entire ring, and have the insurance documentation regarding the entire ring as set.

In terms of evaluating the diamond, this should be done before it is set because the appraiser needs to evaluate the color of the diamond unmounted and face down. Otherwise, I don''t think the appraiser will be able to appropriately evaluate the color of the stone. Given that you have a GIA cert, if you feel comfortable with it, maybe you can omit this step and just have it appraised once set. However, I think it''s safest to have the diamond appraised before being set and the entire ring after the setting. It''s the more expensive route, but I think it''s worth it for a purchase of this size....

 

[asudesigner]

I had my diamond appraised the day after I got it to verify the specs during the 10 day return period. When my ring is complete I will have it appraised again to make sure it is the same stone and to have the appraisal value for insurance.

 

[Ellen]

I would say, it depends. If you are buying from a reputable vendor, the stone is definitely well cut, and it has no questionable inclusions, then no, there''s no reason to have one done before. If you can''t apply all that to your stone, then maybe it would be a good idea to have one done first.

 

[saints25]

Thanks for everyone''s responses. Perhaps it would help if I gave a bit more info about the diamond to see if it''s worth checking before the appraisal.

It''s 1.53 ct, G, SI1, excellent cut (GIA) VG polish, and EX sym. 7.37-7.41-4.58. Medium florescence.

I put all the numbers into the pricescope cutadvisor (62% depth, 56% table, 34.5° crown angle, 41°) and came up with a score of 1.8.

I personally couldn''t see any inclusions and it looked pretty clean.

 

[SLICK300]

I actually just purchased and received a loose stone, which has not yet been set. The vendor I purchased from has a 30 day return policy, so just to be safe, I had the stone appraised. The appraisal went quite well and I will return once it is set for a full appraisal for insurance purposes. I''m not sure if many appraisers have a pricing policy similar to where I went but I paid $50 for just the stone. Appraisal of a ring would be $85, but she is going to deduct the $50 I already paid from the fee, leaving me just the residual $35 for the service.

 

[Regular Guy]

I pretty well agree with Ellen.

Before appraisal, maybe not a lot of value to add if a well regarded vendor...though yes, if they''re more of an unknown. But...since differentials can cause high drama and potential concern, the before setting time can catch these more readily.

After appraisal...I think (and experienced) you are more likely to experience value. Yes, it''s needed this way for the insurance, too. But..upon setting is where the diamond can experience trauma (and more, where the piece can simply not be put together the way it''s supposed to be). The appraiser not only evaluates the diamond and setting, each, but how they are put together. If that was not done ideally, they can comment and it can be corrected.

 

[robh505]

I took my loose stone to David before setting and I''m going to take the finished product to him as well. You may not have to do it depending on your insurance. I was originally going to go with USAA who required a full appraisal after the loose diamond was set. I ended up going with Jewelers Mutual though since I wanted protection while the diamond is being set. With JA, all they needed was the appraisal of the loose diamond and basically a bill of sale and description of the setting to bind the coverage. I''m going to take it back to David anyway though just for the piece of mind that everything is ok and that the diamond is set correctly.

 

[SYC]

It''s at a local jeweler in nyc for under $12,000. It does look very nice in person but I''m definitely no diamond expert. The only downside is they have no return policy but they did agree to let me take it to an appraiser before the sale is final. I looked at the pricescope price comparison and it looked like a pretty good deal. I was just worried that the test only gave it a 1.8 and mostly scores of VG.


Saints25 -- just saw your other post. If this is the case that there is no return policy, I think it is VERY important to have it independently appraised by a good appraiser before closing the deal.

Also, in the event that something does go wrong during the setting process, you will want the appraisal documentation to establish that the damage occurred during setting, and was not a pre-existing issue with the stone.

 

[saints25]

Thanks for all the input. I could return it later on if it didn''t match the certificate but not if the appraiser just disagreed. I agree though that it sounds like it would be prudent to get it checked before being set.

As a follow-up what about not getting it appraised after the setting. I intend to get it insured through jewelers mutual. They do not require the inspection afterwards. I''d already have the the detailed diamond info for insurance purposes. I guess what I''m asking is how likely would it be for there to be just a poor setting job that the appraiser would catch? Or is it really that risky in terms of the diamond getting switch?

 

[Modified Brilliant]

Date: 7/31/2008 7:38:21 PM
Author: saints25
Thanks for all the input. I could return it later on if it didn''t match the certificate but not if the appraiser just disagreed. I agree though that it sounds like it would be prudent to get it checked before being set.

As a follow-up what about not getting it appraised after the setting. I intend to get it insured through jewelers mutual. They do not require the inspection afterwards. I''d already have the the detailed diamond info for insurance purposes. I guess what I''m asking is how likely would it be for there to be just a poor setting job that the appraiser would catch? Or is it really that risky in terms of the diamond getting switch?

I see some "fair" setting jobs with new diamond engagement rings...sometimes fibers are already catching on the prongs or the

diamond is set slightly crooked. There are other potential problems as well...polishing, casting, shank thickness, etc.

If there is a problem at the outset, it can usually be corrected before there is a long term problem. Inspection after setting

is not such a bad idea but certainly not mandatory. As far as stone switching on a new purchase..not to worry..have never seen

that as an issue.

www.metrojewelryappraisers.com