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appraise twice?

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icebrker

Rough_Rock
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Mar 24, 2009
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When I get a loose diamond, I plan on getting it appraise. When I add the setting to it, do I need to get it appraise again?
 

Treasure43

Brilliant_Rock
Joined
Mar 11, 2009
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655
I believe so. I know that''s what we''re planning to do and we were advised to do that by many people here on Pricescope. Because you want the entire ring appraised, not just the stone.
 

icebrker

Rough_Rock
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Mar 24, 2009
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since i''m getting the setting and wedding band custom made, wouldn''t the insurance just take the cost of the setting and wedding band + the appraise of the loose diamond?
 

swingirl

Ideal_Rock
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Apr 6, 2006
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5,659
I never got my stone or setting appraised. My insurance company used my invoices to determine the cost of replacement. You also don't want an inflated price to pay insurance on. If you are buying from a trusted vendor you might want to forgo the appraisal of the loose stone. I'd only get that if I wasn't confident of my purchase, was buying the stone from an unfamiliar vendor, if the stone wasn't certified or if it was a really large and expensive stone.
 

kcoursolle

Super_Ideal_Rock
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Jan 21, 2006
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10,589
In this situation you can take it back to the appraiser and get an "updated appraisal". Usually this appraisal only costs a small amount, mine was $20 (the first one was $100). For the updated appraisal they look and verify that it is the same stone, that it wasn''t damaged in the setting process, look at the setting quality, and any other issues with the setting.
 

diamondseeker2006

Super_Ideal_Rock
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Date: 3/27/2009 5:39:35 PM
Author: swingirl
I never got my stone or setting appraised. My insurance company used my invoices to determine the cost of replacement. You also don''t want an inflated price to pay insurance on. If you are buying from a trusted vendor you might want to forgo the appraisal of the loose stone. I''d only get that if I wasn''t confident of my purchase, was buying the stone from an unfamiliar vendor, if the stone wasn''t certified or if it was a really large and expensive stone.
Ditto on this. I didn''t worry about it when buying stones from Good Old Gold and WhiteFlash.
 

beach

Brilliant_Rock
Joined
Dec 16, 2007
Messages
714
Date: 3/27/2009 8:51:20 PM
Author: diamondseeker2006








Date: 3/27/2009 5:39:35 PM
Author: swingirl
I never got my stone or setting appraised. My insurance company used my invoices to determine the cost of replacement. You also don't want an inflated price to pay insurance on. If you are buying from a trusted vendor you might want to forgo the appraisal of the loose stone. I'd only get that if I wasn't confident of my purchase, was buying the stone from an unfamiliar vendor, if the stone wasn't certified or if it was a really large and expensive stone.
Ditto on this. I didn't worry about it when buying stones from Good Old Gold and WhiteFlash.
I do not agree with this statement to not worry because of the above being "trusted" vendors. They make mistakes just like everyone else and so does AGS and GIA. Independent appraisal saved us alot of money in the end and led to stone rejections. ALWAYS get an independent appraisal. There are so many borderline grades and differences in those grades cost thousands... Color and clarity are the most common error and every vendor makes mistakes in these areas. Whiteflash and GOG are great vendors but not perfect... Branded cuts are not beyond problems either... Don't get me wrong, I will continue to do business with them, but I will also continue to get my independent appraisals... It has helped in the past and has saved thousands of dollars due to grading issues so it just makes sense.
 

Lorelei

Super_Ideal_Rock
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42,064
Date: 3/27/2009 7:03:20 PM
Author: kcoursolle
In this situation you can take it back to the appraiser and get an ''updated appraisal''. Usually this appraisal only costs a small amount, mine was $20 (the first one was $100). For the updated appraisal they look and verify that it is the same stone, that it wasn''t damaged in the setting process, look at the setting quality, and any other issues with the setting.
Ditto
 

oldminer

Ideal_Rock
Trade
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Sep 3, 2000
Messages
6,440
My policy has always been to appraise the unset diamond, provide a complete report and include the fee for the final report with the mounting at no further charge later on. This is what 95% of the unset diamond reports require, so I just made it the standard basis of the work. Others may treat this differently, but it works for nearly every client.
 

Regular Guy

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5,954
Date: 3/27/2009 5:21:01 PM
Author: icebrker
since i''m getting the setting and wedding band custom made, wouldn''t the insurance just take the cost of the setting and wedding band + the appraise of the loose diamond?
However the charges work (free or for a cost) for this second appraisal, I would recommend getting it. There are craftsman issues that can arise, in putting the ring & diamond together (proper gripping with the prongs, for example) that can be observed, and, if necessary, fixed, after this second review by the appraiser. They would not be caught, otherwise.
 

beach

Brilliant_Rock
Joined
Dec 16, 2007
Messages
714
Date: 3/28/2009 4:56:01 PM
Author: Regular Guy


Date: 3/27/2009 5:21:01 PM
Author: icebrker
since i'm getting the setting and wedding band custom made, wouldn't the insurance just take the cost of the setting and wedding band + the appraise of the loose diamond?
However the charges work (free or for a cost) for this second appraisal, I would recommend getting it. There are craftsman issues that can arise, in putting the ring & diamond together (proper gripping with the prongs, for example) that can be observed, and, if necessary, fixed, after this second review by the appraiser. They would not be caught, otherwise.
Very true. Many diamonds fracture/break because they were not sitting in the prongs correctly. Prongs should help dissipate a blunt hit to the diamond. If set wrong, a slight wack can easily fracture a diamond.
 

icebrker

Rough_Rock
Joined
Mar 24, 2009
Messages
29
Any good recommendation in Toronto?

I read about HWL. Are they the only player in town? I think they charge $75 for the first one and $35 for an update.
 

Kelli

Ideal_Rock
Joined
May 27, 2008
Messages
5,455
I had to get mine apprasied after it was set for insurance purposes. I got an appraisal with the ring, and just had my jeweler take a look to confirm it. I trusted the vendor, so I didn''t feel the need to appraise it again before setting it.
 
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