appraisal confusion/help... thanks!

[spacecadet]

hi,
i am fairly new at this whole process and have some questions regarding appraisal... ultimately for insurance purposes.

my situation:
-am about to purchase a stone from a B&M and am going to hand deliver it to my appraiser. of course, i will watch the whole process as i do not want it to leave my sight.

questions:
1. should i get the stone mounted and THEN appraise it? appraisers, out there, will this become more difficult to appraise once it''s on a setting?

2. Or, should i get the stone itself, get it appraised, THEN have it mounted and then re-appraised?
(i know it seems a little anal to get it re-appraised, but i just want to make sure that the same stone was mounted, right?)

i realize that my first situation is ''easier'' for me since i don''t have to go back to my appraiser, but will the process become more difficult since it is already set?

what other tips, advice and procedures can y''all out there can give me (and maybe others) who are in the process of getting a stone+setting and getting it appraised...

i apologize if my questioning/rationale seem a little silly... i am very very new to this
i thought this post went thru- sorry if it''s a double post.

thanks everyone! -spacecadet

 

[jaz464]

It depends on how in-depth of an appraisal you are looking for. In most cases, you want to have an appraisal done before it is mounted so that accurate weight, color, etc can be determined. It's not really necessary to have it appraised after the setting because I would not leave the jeweler without verifying that it is indeed your diamond in the setting. Have them point out your diamond's characteristics (inclusions) to you with a loupe or microscope. Discuss the inclusions when you drop it off and look for the same inclusions when you pick it up. Is the company that sold the diamond to you also setting it?

 

[Kaleigh]

I would have the stone appraised loose. Once that''s done take it to the jeweler that''s going to set the stone for you. Have them go over your stone so you know it''s finger prints so to speak. Having it re appraised after that is over kill. Know your stone before you drop it off to be set. The appraiser and the jeweler can help you with this. HTH

 

[slammie]

Agree with Kaleigh..that is what I have done. Also, once it is mounted some appraisers will take the description of the setting via phone from you or the jeweler and add it to the appraisal without it going back so you can have it for insurance purposes.

 

[RockDoc]

Date: 1/29/2006 9:23:39 PM
Author:spacecadet
hi,
i am fairly new at this whole process and have some questions regarding appraisal... ultimately for insurance purposes.

my situation:
-am about to purchase a stone from a B&M and am going to hand deliver it to my appraiser. of course, i will watch the whole process as i do not want it to leave my sight.

questions:
1. should i get the stone mounted and THEN appraise it? appraisers, out there, will this become more difficult to appraise once it''s on a setting?

2. Or, should i get the stone itself, get it appraised, THEN have it mounted and then re-appraised?
(i know it seems a little anal to get it re-appraised, but i just want to make sure that the same stone was mounted, right?)

i realize that my first situation is ''easier'' for me since i don''t have to go back to my appraiser, but will the process become more difficult since it is already set?

what other tips, advice and procedures can y''all out there can give me (and maybe others) who are in the process of getting a stone+setting and getting it appraised...

i apologize if my questioning/rationale seem a little silly... i am very very new to this
i thought this post went thru- sorry if it''s a double post.

thanks everyone! -spacecadet

I think first that you need to consider what you want done by the appraiser. If you take the stone mounted, any appraiser worth his salt will write a report with the critical assumption that the opinion expressed by him are limited. This will take the appraiser "off the hook" if his opinion is wrong, as he will blame his inaccuracy (should this later be an issue) on the fact that the stone was graded insofar as the mounting permits.

If you are not seeking a confirmation of what you bargained for and what you are paying for it, and are just going there for a document to take for insurance acquistition, then consider getting Chubb insurance and bypass the whole appraisal assignment, as Chubb doesn''t require an appraisal under $ 50K.

Alternatively, if you want all the relevant facts before the purchase become "not returnable", then the stone and ring with the diamond unset given to the appraiser so he can "analyze" and evaluate both items. If you want the appraiser''s opinion to really have some depth "appraise the appraiser" beforehand. This includes discussing what you want and how he will approach the assignment, what tests he will do, what equipment he has, and finding out his educational and experience credientials wouldn''t hurt either.

Since you''ve made it a point to be present when the appraiser does the assignment, you should equally consider being present when the stone is set.

Hope this helps

Rockdoc

 

[spacecadet]

thanks everyone for your input. there are definitely lots of things to consider, but i''m just trying to cover my bases. i haven''t really looked into the insurance part of it, but thanks for the tips everyone!! -spacecadet