Appraisal - less than paid and missing stones on qty count?

[SarahK16]

Hello everyone,

I'm new here so I hope I can provide enough details!

My fiancé and I got engaged recently and brought my ring to a well known local jeweler to get appraised and re-sized. We got the appraisal report back and I trust that it's done properly, but wasn't sure what to expect really.. when I looked it over I saw it was valued at less than what he paid for it so now I'm not sure why. He said he paid around $3300 CAD.

Also, I noticed on the appraisal they state that it was set with 22 diamonds, but I count 34 diamonds (not including the center one). There are 4 on each side of the shoulder, and then 13 on each side (you can see in the pics below). Can someone help me figure out if this looks legit or if I should be going back to ask them more questions about this?

 

[Mekp]

Very pretty ring! Congratulations on your engagement.
I definitely think it's worthwhile to ask about the discrepancy between number of diamonds.
Did you get the appraisal for insurance purposes? If so, you want the number to reflect the cost to replace. The higher the number in the appraisal, the higher your premiums will be. I think you could definitely replace the ring with something similar for the appraised value if it became lost or damaged
Is the stone certified? If so, did you provide the certificate to the appraiser? Do the appraisal details seem to correspond with what your fiance thought he bought, other than the number of diamonds in the setting?

 

[MsShnooks]

Sorry to say this as your fiancé spent a lot of money on it, but looking on James Allen, you could get sth comparable for less than the appraisal (Assuming the colours and clarity quoted are accurate).

 

[lovedogs]

I think you should ask about the discrepancy in the number of small stones. But unfortunately I think the appraisal is fairly accurate (give or take), as the main stone is usually the most valuable piece of a ring and this one is I1 clarity and .25 size (which is not inherently "Bad", but it won't be particularly valuable from an appraisal purpose).

 

[flyingpig]

What is the appraisal for? If it is for insurance, get it corrected.
Did you pay for the appraisal?
Did you buy the ring from the jeweller?

 

[Kathypdoe]

Very pretty, Sarah! Congratulations on your engagement! I hope you get it sorted out.

 

[SarahK16]

Very pretty ring! Congratulations on your engagement.
I definitely think it's worthwhile to ask about the discrepancy between number of diamonds.
Did you get the appraisal for insurance purposes? If so, you want the number to reflect the cost to replace. The higher the number in the appraisal, the higher your premiums will be. I think you could definitely replace the ring with something similar for the appraised value if it became lost or damaged
Is the stone certified? If so, did you provide the certificate to the appraiser? Do the appraisal details seem to correspond with what your fiance thought he bought, other than the number of diamonds in the setting?

Thank you for the reply!

Yes we got it appraised for insurance reasons...thats good to know though about the premiums because I had no idea!

I will have to get him to call where he bought it from because he didn't get anything with it like a certification or anything like that..he is kicking himself now because he didn't know all these things or know it should have. Is that typical to come with one?

I appreciate your help & advice with this!

 

[SarahK16]

What is the appraisal for? If it is for insurance, get it corrected.
Did you pay for the appraisal?
Did you buy the ring from the jeweller?

Yes it was for insurance reasons to avoid payable the deductible if anything happened to it, we did pay for it ($85) and he bought it from a store in the US but I'm not sure which one

 

[Mekp]

Thank you for the reply!

Yes we got it appraised for insurance reasons...thats good to know though about the premiums because I had no idea!

I will have to get him to call where he bought it from because he didn't get anything with it like a certification or anything like that..he is kicking himself now because he didn't know all these things or know it should have. Is that typical to come with one?

I appreciate your help & advice with this!

He shouldn't be down on himself. He bought you a beautiful ring.

It is common for diamonds to come with a certificate. What you want to look for is a GIA or AGS certificate. Those are the trustworthy labs. If it wasn't sold as certified then it isn't, and that's OK, too. What matters is he got what he understood he was purchasing.

BTW, I live near you. I'm in Hamilton

 

[Daisys and Diamonds]

What a beautiful ring
that view of the gallary is too die for
Lucky you looking at that all day long
Enjoy your lovelly ring and hope you get your appraisal and insurance all sorted out no probs asap
congraduations on your engagement

 

[denverappraiser]

Any appraisal worth the name will have a signature and the name and phone number of the signer in the body of the report. Call them up and ask questions. They should be happy to fix any errors, like the stone count problem, and they should be able to explain their value conclusion.