Appraisal values...really? WOW!...

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May 23, 2003
I just recieved the appraisal report in the mail for my engagement ring. My jaw nearly fell to the floor, as it appraised at nearly 2x what we paid for the stone & setting. I realize there is some inflating, but is such a large cushion common, or did we really get a bit better deal than we thought? Here is some background info...
The appraiser was completely independent from either of the sellers I purchased from. She has a Senior Graduate Gemologist certification from GIA, as well as a cert. from FGA (not sure exactly what it was, but the Fellow Gemologist something-or-other from Europe...sorry, don''t mean to offend anyone, but I don''t have the report in front of me). We also did not reveal what we paid for the ring, so the figure she came up with was on her own.

In case the stone or setting would influence the value/price paid ratio, here is the info:

Stone - .91 asscher (not royal)/square emerald cut, H color, VS1 clarity, table & depth are both in the 60''s (I''m pretty sure the table was 65, but not sure on the depth)

Setting - 18K white, pave-set split band with square plateau surrounded by pave that the stone sits on. pave stones are G-I in color, SI 1 clarity, & there are 60 of them on the whole setting.

TCW for both is estimated at 1.87 for both (If I recall the report correctly).

Paid $4500, & the appraisal came back at $8950 + tax.

First & foremost, we are very pleased with the ring, & feel it was a very good price regardless. What I am wondering is now will we be paying more than necessary to insure it on our homeowners, (& how to remedy this if so), & of course, what I asked above...did we get a better deal than we thought?

Any input would be greatly appreciated.

Thank you,


Sep 3, 2000
Speak with the appraiser. Explain the circumstances of the purchase. Ask for a "Discount retail appraisal value" or an "Internet appraisal value". The appraiser may be able to accomodate you withpout a problem. If there is a continuing issue, come back and give us some further info. Maybe someone else can translate your needs better.

There is little reason to pay way too much in premiums. The appraisal value really relates to the typical price paid so there can be a lot of latitude in what is the right amount.


Aug 15, 2000
I think you need to have the appraiser confer with your insurance company, to find out if THEY have a required market level value that needs to be reported.

Keep in mind that many insurance companies want to insure on the basis of the retail store's price, but if you have a claim, they will scour their replacement sources for lower prices.

You should research and read the policy of how a claim would be settled. Then, the appraiser can report the appropriate and relevant VALUE(S).

Hope this helps.



Oct 30, 2002
Look up past posts on 'Chubb' Insurance co. That is who we insured with and I highly recommend them if you don't want to hassle with someone trying to 'replace' your ring for you without you really being involved. Chubb pays you a check if anything happens so you don't have to worry about the insurance co's idea of a good replacement. Sure they could work with a great jeweler or let you be involved, but I just like the no-hassle of Chubb. I believe they let you insure either appraisal amount OR what you paid. When I insured, they asked me what I wanted to insure for. I said the appraisal amount. It was slightly over what we paid but not inflated at all.

It's typical for retail appraisals to be hugely inflated, 2x is not uncommon. You probably got a great deal and on top of that, the appraisal was inflated for retail re-purchase purposes. But I wouldn't insure it for that much. Why? Because the stone is *worth* only what you can replace it for in $$$. If you can replace that ring and stone for $ it for that amount.

Good luck and congrats. Your ring sounds beautiful, I adore the old fashioned settings with pave.



Mar 21, 2003
When you hire the appraiser, you should stipulate that you have the option of selling the stone to the appraiser for 75% of the appraised value. This clause should be readily acceptible to the apprasier, since, if they truly believe that a stone can be sold for X, they should be happy to be able to purchase it for 75% of X. That way they can resell it for X and make a 25% profit. Certainly a nice little addition on top of their appraisal fee.

If an apprasier does not agree to this clause, then you really have to wonder what the appraised value stands for.
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