Appraisal!

[kgressler]

OK i finally chose a rock and a setting.I recieved it this morning from Bluenile. I have a question it came with an appraisal but it was from Blue Nile? Is this a legit appraisal? The ring costy $4037 but appraised at 6500?

Shoud i still get it appraised through another source? I just called mt insurnace agent and they only asked for the bill of sale????? I would think they need an appraisal as well?

What should i do?

 

[denverappraiser]

Your need for an appraisal will depend on what it is that you are trying to learn. As you point out, the insurance company will happily accept almost anything. This thread has some thoughts on this matter.

Neil Beaty, GG ISA
Independent Appraisals in Denver

 

[laney]

An outside apprasial will help you feel confident that what you purchased is a) what they said it was and b) you paid what you should have for it.

Secondarily, an appraisal can be used for insurance purposes, or the bill of sale or the blue nile appraisal. We had (3) items that we conisdered for insurance, 1, the bill 2, an inhouse apprasial, and 3 an independant appraisal.

The "more" it''s appraised for the more $$$ you will pay to insure it. So consider what you''d like to do and get some quotes on how much it will cost you.

In the end - we sent in the appraisal with the most detailed information. If they are going to replace my stone - I want one that is not only the same grade/color - but also one that performs well when using an idealscope, brilliancescope or I2see scores. Who knows if I''ll ever be able to "use" that information to get an equal replacement value diamond. But I''m sure as heck gonna try.

Anyway - use the apprasial that is a) the amount you can afford for insurance, and b) one that has enough detail so that it can be replaced equally.

And - yes I do suggest an outside appraiser take a look at your stone (for $75-80). It''s worth the time to make sure you got what you paid for.

 

[kgressler]

OK thank you for the replys!!!

Now on the appraisals....

Looking in the resources area here on price scope the list appraisers but none are anywhere near me.Closest one is over 4 hours away.
Are there other places besides the ones listed here or am i SOL?

 

[denverappraiser]

There are quite a few of us on the list that work with out-of-town clients. There are also other listings available. Try:

American Society of Appraisers
International Society of Appriasers
National Association of Jewelry Appraisers

and there's always Google.

Neil Beaty, GG ISA
Independent Appraisals in Denver

 

[lmurden]

Are you going with Chubbs? If so, I am surprised they asked for the bill of sales and not the appraisal price. At least that is what they did for me. By the way, I got a second appriasal when I got my engagement ring. I think it''s worth getting a second opinion and to check to make sure everything checks out. Good luck!

 

[kgressler]

No i am using state farm. Its 26 bucks a year with no deductible

 

[lmurden]

Good price!