Appraisal Value vs. Price Paid

[twubs]

Purchase a ring the other night and I immediately set up an appointment to have the stone appraised for both insurance purposes and to make sure I got a good deal. The ring I purchased appraised for 25% higher then the price I paid. Does this mean I got a great deal or is this a common occurance?

 

[soda]

Depends on the insurance, generally speaking, if you can the same rock for the same price you originally paid for it, then you would be paying excessive insurance fees.

You can check the prices of similar diamonds on the pricescope, most insurers will give you a like diamond replacement, rather than cash out on appraised value. check your poly.

most appraisers like to may you feel happy for their time lol