Appraisal or invoice?

[newbgblue]

I am the proud new owner of a BG blue stone and setting. As I'm sitting here, looking at the beautiful ring, I am unsure as to what to do next. Do I use the invoice price for insurance purposes (if they accept) or do I absolutely need to get it appraised? I am comfortable ensuring the stone is the one I purchased by using a loupe. And, I will add a clause to the insurance contract that the replacement must be done through BG if the unfortunate case occurs that I need to replace the ring (hopefully not!). Assuming I can do the above and fair value is what it is today, is it reasonable to just use the invoice for insurance purposes and update with an appraisal 3 or 4 years from now?

Thanks!

 

[distracts]

Yes, that's reasonable. If you are insuring through Jeweler's Mutual, they let you choose what jeweler to work with for the replacement so I doubt you would even need to specify Brian Gavin. Though it doesn't hurt to ask them to make sure!

 

[Christina...]

I think it sounds reasonable too. I would also periodically check diamond values and adjust as needed to ensure that the stone continues to be adequately covered. Have you posted your beautiful diamond in SMTB?

 

[newbgblue]

Thanks guys - I appreciate the responses!

I will post the pictures within the SMTB section in due time - proposal coming soon and hand shots soon after (knock on wood)!