Appraisal and store policy question

[e5116]

Hey everybody! I have a few general questions if you don't mind.

1.) Do most stores allow you to bring in a diamond to compare with ones they have in the store side-by-side? Obviously, I could call and I'd imagine they would as they want the business, but I was wondering what was the general practice.

2.) For a store that doesn't have a return policy for diamonds, do you think it'd be reasonable to ask that if an independent appraiser sets the price as less than the purchase price, that one should be able to get a full refund and be able to return it?

3.) In an appraisal, does the appraisal go by the measurements cited in the GIA/AGS certificate, or do they make the measurements themselves? I'm assuming the latter. Do they even look at the GIA report or just come up with their own designations for color, clarity, etc.? Furthermore, what sort of tests of performance does a traditional GIA-certified appraisal do? I assume they look at it in different lighting conditions, check for leakage, measure dimensions, color, clarity, polish, symmetry, etc. So, I assume the final appraisal value is a combination of the four C's, dimensions, and performance. If you have a good article link that describes the appraisal process in detail that would be greatly appreciated.

Thanks so much!

 

[denverappraiser]

Date: 11/8/2009 9:15:29 PM
Author:e5116

1.) Do most stores allow you to bring in a diamond to compare with ones they have in the store side-by-side? Obviously, I could call and I'd imagine they would as they want the business, but I was wondering what was the general practice.

It’s kind of an unusual request but no, most stores won’t have a problem with it. By all means ask, and make sure they know what you’re doing before you start so that there’s no fear about confusing your stone for theirs during the presentation.

Date: 11/8/2009 9:15:29 PM
Author:e5116

2.) For a store that doesn't have a return policy for diamonds, do you think it'd be reasonable to ask that if an independent appraiser sets the price as less than the purchase price, that one should be able to get a full refund and be able to return it?

Umm, that would be a return policy. I have a different solution. If a store doesn’t have a return policy, refuse to buy from them. You should have the right to show it to whatever expert you wish, look at it in whatever environment you wish and return it for whatever reason you wish within a reasonable amount of time as long as you don’t damage it while in your possession. It's fair for them to expect you to be in something of a hurry about this since they probably don't own the stone and if you don't buy it they need to return it to whoever does. Pricing is yet another question. They should be able to charge whatever they want, regardless of what your appraiser says it ‘should’ cost. If you aren’t happy with the deal after you talk to your appraiser,your mother or your astrologer, return it or negotiate for a new deal based on the return policy and what you've learned but they should not be expected to obligate themselves based on the opinion of an unknown 3rd party.

Date: 11/8/2009 9:15:29 PM
Author:e5116
3.) In an appraisal, does the appraisal go by the measurements cited in the GIA/AGS certificate, or do they make the measurements themselves? I'm assuming the latter. Do they even look at the GIA report or just come up with their own designations for color, clarity, etc.? Furthermore, what sort of tests of performance does a traditional GIA-certified appraisal do? I assume they look at it in different lighting conditions, check for leakage, measure dimensions, color, clarity, polish, symmetry, etc. So, I assume the final appraisal value is a combination of the four C's, dimensions, and performance. If you have a good article link that describes the appraisal process in detail that would be greatly appreciated.

This will depend on the appraiser and the nature of the assignment. The presence of a GIA lab report on the stone is an important attribute. In most cases, the purpose of the appraisal isn’t to second guess the lab, at least if it’s done by a reputable lab, but rather to spot things that aren’t being done by the lab, to match the stone to the report, to indicate condition and to assign a value. For all of these objectives it’s necessary to see the report. Most appraisers will grade the stone themselves first then look at the report and identify for you what areas, if any, they have a grading dispute as well as any other issues they may have and how these differences may affect the value.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver