Appraisals from selling agent?

[cubiczirconia]

Just joined the the forum. Have been stalking it for a month getting a lot of useful info, so thanks everybody.

Quick question about appraisals. So I''ve gone to a number of different selling agents, and they have all given me the details about the buying and appraisal process after the engagement ring is made (usually by a third person party). However, the dealer who I am close to purchasing with does his own appraisals and I thought that was odd. Is this a normal practice? Is this something I should be worried about?

(Note: The person I''m purchasing from is well respected in the community, provides jewelry for local charity events, and seems to have an international reputation providing jewelry for celebrities when they come into town for film festivals. I do trust him, and he''s given competitive prices compared to the places I''ve gone to. He sells only GIA certified stones, he shows his customers the rapaport reports, and has a microscope and TV set to magnify 50x (I believe) the diamonds before selling).

Should I insist on a third party appraisal?

Thanks for your help. Much appreciated.

 

[FrekeChild]

Date: 8/21/2008 1:10:13 AM
Author:cubiczirconia
Should I insist on a third party appraisal?

Yes. I don't care about their reputation. You should always get a third party appraisal.

I know squat about diamonds, but I know you should get an appraisal from someone who doesn't have a vested interest in your purchase.

 

[Cleo]

Welcome to Pricescope!

I have to ditto everything FC said - it''s absolutely right.

PS always advises that you get an *independent* appraisal. That means it needs to be appraised ideally by someone that doesn''t sell jewellery at all, but definitely not by the person who is selling you the piece.

Such an appraisal is, quite honestly, worthless. The vendor/appraiser has a vested interest in selling the piece, and no matter how great their reputation, can never give a truly impartial appraisal.

x x x

 

[Lorelei]

Date: 8/21/2008 1:59:30 AM
Author: Cleo
Welcome to Pricescope!

I have to ditto everything FC said - it''s absolutely right.

PS always advises that you get an *independent* appraisal. That means it needs to be appraised ideally by someone that doesn''t sell jewellery at all, but definitely not by the person who is selling you the piece.

Such an appraisal is, quite honestly, worthless. The vendor/appraiser has a vested interest in selling the piece, and no matter how great their reputation, can never give a truly impartial appraisal.

x x x

Ditto the ladies above, a third party appraisal is essential.