Appraisal Questions

[akw94]

I''ve gathered from reading other posts that some companies (like Whiteflash) have their own appraisers. Is this common with most companies? If they do have their own, is it enough to do that? Should their be an outside appraisal done? Also, if they don''t have their own, what is the best way to find an appraiser? Is it the diamond and the setting that is appraised?

Thank you! I am new at much of this and just trying to figure out how the process works.

 

[belle]

i''m not sure how many companies do this, but wf uses an outside source to basically verifly that the diamond matches the grading report. the appraiser does list a replacement value, so this letter can be used for insurance purposes. if you want more information and tests performed on the diamond, you can have the diamond sent to an independent appraiser that has the equipment to get the results you are looking for.

 

[lil_jay78]

When ordering diamonds from WF, they send an independent VERIFICATION that your diamond is the one that comes w/ the Certified appraisal. I don''t think it qualifies as an independent appraisal. If you''re like me and you''re worried you can have the diamond appraised within the return-policy window and send it back if you do not want it. WF can send it to an independent appraiser where you can go and look at it together and then decide whether or not you want the stone there, but I am not that familiar w/ my process. For me, I took my stone to an independent appraiser just for piece of mind.

For insurance purposes, you do have to insure the diamond IN the setting. The guy I had appraise my diamond said that when I have it set, I can just bring it back in and he''ll append the appraisal, no charge. Find out if you can do that with the appraiser you decide on. David is a very popular guy that a lot of PS''ers seem to get their stones appraised from, so that''s another source you have. Again, personally, I liked being able to go through the appraisal process with the appraiser.

I''m still a little new myself, but this is what I know so far...

 

[denverappraiser]

Amy,

I've gathered from reading other posts that some companies (like Whiteflash) have their own appraisers. Is this common with most companies?

Most sellers will supply documentation with your purchase. Some will do it with employees while others will use outside contractors to provide some or all of it. The quality and usefulness of the reports will vary considerably depending on what you're hoping to learn and who parepared them.

If they do have their own, is it enough to do that? Should their be an outside appraisal done?

I’ll let others answer these.

Also, if they don't have their own, what is the best way to find an appraiser?

Move to Colorado.

Failing that, look here

Is it the diamond and the setting that is appraised?

One, the other or both. It will depend on what you want. Not every appraisal assignment involves the same questions or the same report. Here are some thoughts on how to get good value out of an appraiser.

Neil Beaty
GG(GIA) ISA NAJA
Professional Appraisals in Denver

 

[akw94]

Thanks! That was very helpful. I guess I was getting confused w/the verfication vs. the appraisal. It''s good to know that you send the diamond in first and then go back for the setting, for insurance purposes. I hadn''t thought of the insurance part of all of this. This might be a silly question, but to insure, just go to your regular insurance company and have them add it to your policy?
Neil, thanks for the links! I noticed that many of the appraisers listed in the link provided aren''t in my actual state. Is it common to send it to someone outside of your area? There is so much to learn in all of this. I want to be able to supply my bf w/as much useful info. as possible, since i''m not sure how much he knows/doesn''t know/wants to know.

Thank you everyone.

 

[JohnQuixote]

I often mention that the Whiteflash letter of verification is included as a courtesy, not as a substitute for a full appraisal of the kind offered by notable PS appraisers: The letter includes the basics of weight, color, clarity & laser inscriptions as well as setting details and an approximate retail value. It is performed by a Houston independent appraiser. It is suitable for insurance in most cases, which we hope will be helpful to our customers.

With our experts doing a pre-grade, the lab issuing the ''official'' grade and the verifying appraiser performing a further check we have done everything in our power to authenticate your purchase.

There is still great security in hiring an independent expert. When doing so you should shop for your appraiser just as you shop for a vendor. The range of services and reputability of different appraisers can vary. Some of the best in the business contribute here. It always pays to do your homework.

 

[akw94]

Date: 4/11/2006 3:53:43 PM
Author: JohnQuixote

I often mention that the Whiteflash letter of verification is included as a courtesy, not as a substitute for a full appraisal of the kind offered by notable PS appraisers: The letter includes the basics of weight, color, clarity & laser inscriptions as well as setting details and an approximate retail value. It is performed by a Houston independent appraiser. It is suitable for insurance in most cases, which we hope will be helpful to our customers.

With our experts doing a pre-grade, the lab issuing the ''official'' grade and the verifying appraiser performing a further check we have done everything in our power to authenticate your purchase.

John, thank you, it is good to know about the Whiteflash letter. One more question for clarification, do you receive the lab''s "official" grade from the appraiser or from the jeweler?

 

[JohnQuixote]

Date: 4/11/2006 4:05:07 PM
Author: amy94

John, thank you, it is good to know about the Whiteflash letter. One more question for clarification, do you receive the lab's 'official' grade from the appraiser or from the jeweler?

You're welcome Amy.

When I mention the official grade I mean the grading report from AGS or GIA which accompanies our lab-graded diamonds.

 

[akw94]

Now that I have all this great info., too bad i''m not making the choice about where to buy

.

Thank you again!

 

[JohnQuixote]

Amy, if you do your homework (it sounds like you are) you can have a great buying experience in many places. The reason to seek verification, appraisal, etc. is for self-assurance that everything is correct. It also leaves a 'trail of evidence' that you were a diligent shopper, which could be useful in the future if - for some reason - you experience a loss.