Appraisal VS cost of EC diamond

[Mrsgardener]

This is very confusing.

...-- I paid $3000.00 not including tax for my beautiful EC loose diamond, VVS2--D--.70.-- The appraisal and Certicate came today via Mail.---- The appraisal states $7,301.00---- Someone please explain!---- Thanks!

 

[Rod]

Don''t go putting down a deposit on that shiny new car you have your eye on with the proceeds from the profits you think you might reap if you sell that stone tomorrow. Who did your appraisal? Was it an appraiser picked by a store? Did you pick the appraiser yourself. I''m sure some of the appraisers who are on this site can offer better insight, but often appraisals come in at more than twice what someone paid. Particularly if it''s a vendors appraisal. It''s supposed to make you feel like you got the deal of century. It''s also often for insurance purposes and all you get is the wonderful burden of paying more for insurance than is necessary.

Use the "Pricescope Your Diamond" feature above and you''ll see you''d be hard pressed to find a $7000 .70 carat D VVS2 EC stone. The most expensive one I could find was around $4500.

I''m sure your stone is beautiful and I hope it brings you much joy, but don''t put too much "value" in that piece of paper. And certainly don''t pay to insure it at that level.

Best wishes.............

 

[Mrsgardener]

--Thanks Rod!--- I was confused by the increased value. I''m always leary about "too good to be true". The Appraisal was by Universal Services. It came with my loose diamond.
I have learned through this site and my adventures that buying a good quality diamond @ a reasonable price is a skill.

 

[RockDoc]

UGS, reports values that are generally several times the actual value.

Commonly that are not worth the ink on the paper, much less the paper itself.

I would suggest you have the grading report reviewed to make sure it is not exaggerated as well.

Rockdoc

 

[JohnQuixote]

Rod brought up a point worth emphasis: Regardless of outcome, you pay a premium to insure your diamond at an inflated price. I suggest you insure it for reasonable replacement cost and re-visit that figure every year or so as rough prices increase.