Apraisal Fee for Mounted and Loose Diamonds

[zhuzhu]

I was wondring if the fee for appraising a mounted diamond is less than appraising an unmounted diamond. If so what is the average fee for appraising a mounted (4 prongs) .25 ct diamond ring?

Thanks!

 

[Regular Guy]

It''s rumored some appraisers will direct you to unmount the diamond before they do their work. Alternately, I think most appraisers do their work with rings like yours, and where the stone is mounted. I won''t guess as to averages, but understand you should not expect a discount.

 

[belle]

different appraisers charge different prices and offer different services. it really depends on how extensive you want your appraisal to be and who performs the service. ballpark...you should be able to get a simple appraisal for less than $100.

 

[tdiddy]

I have been trying to find an appraiser for an unmounted diamond lately and localy (in Cincinnati) the two reputable appraisers I spoke to both told me that if they appraised an unmounted stone for me that would ethically be required to appraise it in the "market it was intended for". Although to me the intended market is an engagement ring, they both said they would have to appraise an unmounted stone for the "wholesale" market. Basically the second jeweler I talked to recommended not even having it appraised until mounted b/c he would appraise it at less than the retail value I probably paid for it. And both jeweler''s charged the same amount for unmounted versus mounted appraisal.

Lesson learned is that I should have just has the PS vendor I dealt with ship it straight to an appraiser they recommended rather than trying to do it myself. Very painful. And James Allen - the vendor I dealt with - was so helpful with everything else in the process that I am sure it would have been a lot easier to let them help me with it.

At this point, I gave up on appraisal until after the stone is set. My jeweler has insurance to cover the mounting process. And the stone is locked away in a safety deposit box until the setting is ready to go.

 

[denverappraiser]

Tdiddy,

What was your purpose for seeking the appraisal? Did your prospective appraisers ask this question?

Usually, people looking for an appraisal on new jewelry are seeking either documentation for insurance or information that will either confirm, refute or supplement what the selling dealer has told them. For insurance, the companies will normally request that property be valued in the usual marketplace, which for diamonds is usually retail, although this is may not where they go to make a replacement. Most companies won’t bind a policy on an unmounted diamond at all but there are a few exceptions. . If the price being charged by the dealer is the concern, the appraisal value should be for the appropriate marketplace of interest, which in your case sounds like local retail.

I charge the same amount for unmounted and mounted stones and it is very rare for me to recommend that a client have a stone removed from a setting in order to accomodate an appraisal. If it is otherwise logistically sensible, like when they are planning to reset it in a new mounting anyway, I prefer to see the stones loose because can provide better information that way.

Neil Beaty
GG(GIA) ISA NAJA
Professional Appraisals in Denver

 

[Ellen]

I had my mounted stone appraised, just to verify the stone and cert matched. I really didn''t even doubt that, but it was the prudent thing to do. I was charged $80. That was verifying that all the stats matched the stone.

 

[RockDoc]

Date: 7/17/2006 3:00:20 PM
Author: tdiddy
I have been trying to find an appraiser for an unmounted diamond lately and localy (in Cincinnati) the two reputable appraisers I spoke to both told me that if they appraised an unmounted stone for me that would ethically be required to appraise it in the ''market it was intended for''. Although to me the intended market is an engagement ring, they both said they would have to appraise an unmounted stone for the ''wholesale'' market. Basically the second jeweler I talked to recommended not even having it appraised until mounted b/c he would appraise it at less than the retail value I probably paid for it. And both jeweler''s charged the same amount for unmounted versus mounted appraisal.

Lesson learned is that I should have just has the PS vendor I dealt with ship it straight to an appraiser they recommended rather than trying to do it myself. Very painful. And James Allen - the vendor I dealt with - was so helpful with everything else in the process that I am sure it would have been a lot easier to let them help me with it.

At this point, I gave up on appraisal until after the stone is set. My jeweler has insurance to cover the mounting process. And the stone is locked away in a safety deposit box until the setting is ready to go.

Appraising a stone for wholesale simply because it isn''t set yet?

This is DUMB!

In the past ( before the internet sales of loose stone became vibrant) this may have been a reasonable consideration of the value methodology, as the most commonly occuring market for an unset stone was from wholesaler to wholesaler or wholesaler to retailer. However now there is a vibrant market of unset stone being sold to end users ( the consumer ).

But "hinged" to this is the purpose and function of the report. If it is for the acquisition of insurance coverage purposes, the company has to be willing to accept coverage for an unset stone, which most will NOT do, as most insurance companies writing coverage for consumers will only insure a stone once it is set. Therefore an appraisal for an unset stone is invalid.

Gemologists can certainly supply a quality analysis, and then update it to an insurance type appraisal once the stone is set. In some cases insurance companies will insure the loose stone, if the mounting is purchase and the stone is to be set in a very brief period of time. But they would still want the information about the stone, and the details of how it is to be set, along with images of the jewelry.

But telling you that it is "unethical" to value the item at a retail price, strictly due to the fact that it isn''t set yet, defies logic.

Rockdoc

 

[tdiddy]

I called to inquire about appraising it primarily for insurance purposes and secondarily for verification. I did find an insurance company (Jeweler''s Mutual) that was willing to insure the loose diamond until it was set. Because I am getting a Tacori setting that will take awhile (~6 weeks) I wanted to insure the loose stone. They agreed to do this but required the appraisal.

So when I called the appraiser''s I explained the situation and told them that it was for insurance and verification purposes - that''s when I got the speech about them only appraising it at wholesale value - even though I paid retail - based on their ethical requirements. I was clear about my intent with the diamond and that I bought it at retail.

Like I said, I gave up and locked it in the bank

The whole insurance on loose stone issue in general in frustrating as you can tell on some of the PS threads that I referenced for more info - Chubbs and JM are supposedly the only two that really do it and there are several caveats to it. Additionally, the requirements vary by state. When my FF called and inquired about it for Ohio he got a different response then I did for Kentucky and I understand that this is normal. But the appraisal thing finally sent me over the edge and to the bank for a good old fashioned deposit box.

 

[Modified Brilliant]

Date: 7/17/2006 4:34:35 PM
Author: tdiddy
I called to inquire about appraising it primarily for insurance purposes and secondarily for verification. I did find an insurance company (Jeweler''s Mutual) that was willing to insure the loose diamond until it was set. Because I am getting a Tacori setting that will take awhile (~6 weeks) I wanted to insure the loose stone. They agreed to do this but required the appraisal.

So when I called the appraiser''s I explained the situation and told them that it was for insurance and verification purposes - that''s when I got the speech about them only appraising it at wholesale value - even though I paid retail - based on their ethical requirements. I was clear about my intent with the diamond and that I bought it at retail.

Like I said, I gave up and locked it in the bank

The whole insurance on loose stone issue in general in frustrating as you can tell on some of the PS threads that I referenced for more info - Chubbs and JM are supposedly the only two that really do it and there are several caveats to it. Additionally, the requirements vary by state. When my FF called and inquired about it for Ohio he got a different response then I did for Kentucky and I understand that this is normal. But the appraisal thing finally sent me over the edge and to the bank for a good old fashioned deposit box.

tdiddy,

Your appraisal request appeared to be "normal." The answer that you received about "wholesale value" was NOT.

It''s unfortunate that the appraiser threw a wrench into your good intentions of getting an appraisal to suit your needs.

Serving the needs of consumers is what keeps us all in business.

www.metrojewelryappraisers.com

 

[zhuzhu]

Thanks for a wealth of information. Well my mother has a .25 cts white as snow and shiny as star little diamond that is now set into 18k gold setting. The stone was purchased many years ago in Switzerland by my dad, but the papers for the diamond have been lost.

The ring is prob. not very expensive due to the small carat weight, but the sentimental value is significant and I would like to insure it for my mom. Given the small size but apparently great quality of the diamond, where can I get an affordable and trust worthy appraisal for both the "accuracy of report" and "excellent replacement value"?

Thank you!

 

[belle]

you can send it to any of the appraisers here of course

did you check the pricescope listings for appraisers in your area?