Appraisal-Help, should I get 2nd opinion from a different appraiser?

[Moko]

Hi, I am new here and hope someone help me. (I am not native English speaker, hope you will understand me)

I have a question regarding appraisers.
I had my diamond rings appraised for insurance purpose today and I paid $85.00
He did not have GG or FGA title after his name, but said Appraiser, Graduate Gemologist (GIA). Does GG stand for Graduate Gemologist? If so, I am in good hands?

He was very nice and kind, but several things bothered me.
He did not seem very happy when I asked him a question about Hearts and Arrows and did not want to put it on his appraisal (maybe he did not have tools to see hearts and arrows?)
After I came home I realized he documented Metal: 14K yellow and white gold.
My husband was told the prong was platinum when he purchased it, also in the past I was told by a different jeweler the prong part was platinum. I looked inside of my ring, and it states 14K * P. Isn’t this P stand for platinum?

This is Diamond solitaire engagement ring. The diamond is Round Brilliant Cut, 1.02Cts, VS1, Color: F came with GIA report. My husband bought it 10 years ago, the actual cost was $5200. I only wear it when I go out, so the condition is very good. According to the appraisal, the retail value now is $12,500. Does this sound right?

The appraisal documentation was very simple 1 page paper, it almost just same things was repeated from my GIA report. I was expecting more detailed documentation than GIA report.

Anyway, my question is,
Should I call him again and ask him to check if my prong is platinum or white gold? Or should I go to see another appraiser?

 

[denverappraiser]

Moko,

Welcome.

Yes, GG stands for Graduate Gemologist.

He may not have agreed that the stone was possibility for hearts and arrows and bear in mind that the hearts can only be seen from the back. If he thought it wasn’t an h&a, he certainly should have explained it if asked and if he was unable to test because of the limitations of the mounting or tools, he should have explained that. The tools are cheap and plentiful by the way. Call him up and ask for an explanation. If you have any documentation that supports an h&a claim, talk to him about what you have and what you’ve been previously told that lead you to ask the question.

Discuss with him frankly what you expected that you didn’t get. In my opinion a single page is entirely insufficient but many, even most, appraisers seem to do it this way.

By all means call him back and ask how he determined that the prongs were white gold and express your concerns that this may be inaccurate. It’s an important difference. There ARE tests for this and most appraisers are prepared to do it although he may have made an error or simply not done the test. On the other hand, he may be right. Ask. The ‘P’ in 14kp usually stands for ‘Plumb’ which means that it’s true 14k rather than rounded up 13.5k. It’s a weird American thing. Everywhere else, 14k means 14k.

I can’t address the value conclusion but you can get a feel for what comparable things cost by shopping the dealers here. Most local stores are a bit more expensive than the folks here and most appraisals are valuing to the local market but this gives you a good place to start. Locals are generally 25% - about 50% more depending on the item and what stores you’re talking about. Some are more while others are very competitive. Things like h&a can be pretty important to the required budget for replacement although they''re easier to find now than they were a decade ago. Feel free to ask for an explanation about how he came to the final number. That''s part of what you''re paying for.

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

 

[gk172]

I asked about my prongs at a recent valuation as i thought they were platinum and it was noted as white metal and when i queried it i was told the only way to determine what it was, was to do an acid test on the metal or on a scrapping which i didnt want but i was assured that it didnt really make much of a differance

this is from a uk appraiser.

 

[denverappraiser]

Date: 8/24/2007 2:39:03 AM
Author: gk172
I asked about my prongs at a recent valuation as i thought they were platinum and it was noted as white metal and when i queried it i was told the only way to determine what it was, was to do an acid test on the metal or on a scrapping which i didnt want but i was assured that it didnt really make much of a differance

this is from a uk appraiser.

Here's an example of a totally non-destructive tester. The old 'pawn shop' approach of filing a notch in the piece is definitely not necessary and you're right to refuse to allow them to do it.

http://www.nationaljewelerssupplies.com/page/NJS/PROD/GXL-24

It makes a difference if it's going to be important to you at the time of replacement. Platinum costs considerably more and replacing it with white gold is not 'like kind and quality'. The only for the insurance company to know this is if you tell them and the way you're telling them is by giving them the appraisal.

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

 

[mikebzt]

I am going to throw in my 2 cents. My suggestion is to go to an independant appraiser who has some certification behind him/her. They are the most knowledgable and will give you an accurate valuation of the stone. This appraisal will be more than a 1 page document.
I can tell you from friends that have went to someone not qualified to do an appraisal and received an appraisal thousands less than what the ring is worth.

 

[JohnQuixote]

 

[Moko]

Hi all,

Thank you so much for all your kind advice and helpful information.
And I feel honored to receive replies from you guys! I always admired the people here for your intelligence and kindness. So I was so happy when I saw your replies!!

Neil, If I could fly to Denver today, I would definitely ask you to appraise my ring.
As you suggested, first, I will call the appraiser I met yesterday and ask him if he could do test for finding out the prong is platinum or white gold also ask if he could tell my diamond has Hearts and Arrows on my diamond. However, is it possible to see in the setting? My ring has 6 prongs so, it may be difficult to see from the bottom.

However, after I read all of your replies (thank you all!) now I am more convinced to getting 2nd opinion plus more detailed appraisal from one of the appraisers whom John recommended. Since I live in Boston area, I am hoping Jeff Averbrook will help me. I will be spending too much money for just appraisal, but I think I am paying for a lesson and I am learning.

OK, here is a question on Hearts and Arrows diamond, If my understanding is right,
only the diamond that has “perfect Hearts and Arrows” is called Hearts and Arrows Diamond. Not “some Hearts and Arrows can be seen”. It’s like Black or White, No Gray zone. Am I right? If so, my question to the appraiser should be something like “Is my diamond Hearts and Arrow Diamond?” And the answer should be either Yes or No. And if the appraiser “ Yes”, then, it will be stated on the documents. Am I correct?

Thank you,
Moko

 

[Modified Brilliant]

Just for the record everyone...

My last name is spelled "Averbook" not "Averbrook"

Most everyone on the planet spells it incorrectly...so feel free to use either spelling if you do a "search."

Thanks for thinking of me

Jeff Averbook, G.G. (Graduate Gemologist since 1986)

www.metrojewelryappraisers.com

 

[Moko]

Jeff,

I am so sorry, I misspelled your last name. I will be very careful next time.
Please forgive me.

Though it''s because of my mistake, I am very happy to get a reply directly from you here and I would like to make an appointment with you. Are you taking new appointments?
May I call you at your office?

Moko

 

[ru486]

yes, call hime back to recheck the prong to see if it''s Pt, let him explain to u. You got what u paid for!

 

[Modified Brilliant]

Moko...no apology needed!!

It was great talking with you today.

Jeff

 

[JohnQuixote]

Mis-spelling Jeff''s name is on me. I was guilty of hearing it in my head differently, but I''ve had a firm conversation with ''the voices'' and they promise to do better in the future.

Moko, I am glad you got in touch with him.

(sorry Jeff)

 

[Moko]

Jeff, I just wanted to say thank you so much for taking your time to explain in details how appraisal performed. From our phone conversation, I can tell that you are not only an excellent appraiser, but also a person with a heart of gold. I am looking forward to seeing you in person and having my diamond appraised in the future.