Appraisal''s what are they WORTH

[rshannon]

Hello and thank you so much for all your help so far.
I must say the advice from this board has helped put me in a better bargaining position, even after
my fiancee plunked down 14 grand for my ring.

So here is the deal, I got the appraisal from the guy in Sarasota per advice from the board.
I appreciated him being able to get us in quick and I appreciated even more Frank Gesner of Gesners Fine Estate
Art and Jewelry of Tampa, paying for it. He was very nice when I called him and receited word for word the advice
given to me on this board. He extended the cancelation terms and extended the time.
Great Customer Service Kutos to Gesners and Go team Pricescope.....

So now, I get in the Appraisal and the ring is Edwardian about 1918. It is 2.66 VS2. The Appraiser Richard Sheward of Sarasota
said that it could be VS1 if a rough spot was polished off. Mr Gesner politely offered to have it polished.
The color is L. It is quite warm.
It appraised at 18000.00 as VS 1.

I noticed there are not many L stones around with a VS rating.
Is this because the color is undesirable does this make it worth less??

Is 14,000 to much to pay for a ring appraising at 18,000
what is real market value?
Could I have gotten a better deal.
AHHHH the presure of it all!!!

Could I find a better estate piece for less? After looking around I think I could and even get a lighter stone.

Can you give a girl a bit more advice.
Did we pay to much?
I still do not have the ring and can cancel.
I just wonder If I should.

Shannon and Bob
Floriduh

 

[strmrdr]

If Rich said it was a good deal then it is a good deal.
Rich doesn't do feel good appraisals and wont lead you wrong.

Ask Rich which value the $18000 is based on.
I would assume estate/retail market replacement.
It sounds like a nice deal to me if that is the case.

 

[FancyDiamond]

I am also curious about what the appraised value means. Form the limited reading I did from searching this forum, I was under the impression that the appraised value is the average replacement cost which has about 35%-40% markup. Then again, I must have misinterpreted something.
Anyway, if you do a search on the available loose diamonds here, a 2.66 L VS2 stone costs about $12,000. Adding $2000 more for the setting, $14,000 would be an expected price and not a great bargain. Am I missing something here? Remember, I know nothing about diamonds and appraisals, so don''t shoot me.

 

[arjunajane]

Sorry, but these threads always baffle me.
You are paying the appraiser for his/her opinion.

If you don''t understand that opinion - ask the appraiser..right?!
I''m sure Rich will be happy to elaborate.



From the little details you''ve given, it sounds like a good deal.
But if you have photos of the ring, and description of what type of centre stone and setting etc? Than we could comment more on that.

 

[Regular Guy]

Date: 7/13/2009 9:41:09 PM
Author:rshannon
I appreciated him being able to get us in quick and I appreciated even more Frank Gesner of Gesners Fine Estate
Art and Jewelry of Tampa, paying for it.

Maybe you jinxed yourself.

Rich is among the best in the business. Though too late probably to switch funding sources, his reputation is something he values, and I agree...for any "nits," you''ll need really to ask him, and trust him.

 

[Richard Sherwood]

Hi Shannon. Gorgeous ring you''re looking at.

I''d be happy to discuss it with you, but your voice mail broke up when you left your phone number. Call me again on 941-321-0192 and we''ll mull it over.

 

[Lorelei]

Date: 7/13/2009 10:00:21 PM
Author: strmrdr
If Rich said it was a good deal then it is a good deal.
Rich doesn''t do feel good appraisals and wont lead you wrong.

Ask Rich which value the $18000 is based on.
I would assume estate/retail market replacement.
It sounds like a nice deal to me if that is the case.

Ditto, I trust Rich and regard him highly so if he appraised your ring you can feel confident in his professional opinion.