are these release forms common?

[r1505]

I recently purchased a great setting from a local jewelry store but we couldn't come together on a price for a diamond. After giving them countless opportunities to get me to buy a diamond I decided to go elsewhere. I recently found an excellent princess cut online. I'm very happy with the setting and the diamond. The store told me it wouldn't be a problem and they would gladly set it or send it to the ring designer to set it. So as planned I brought the diamond to them today. They said they would set it free of charge but they first wanted me to sign a release form. The form says that they are not responsible for any damage that may occur to the diamond if they set it. It also says that if for some reason the diamond is lost while in their possession they are not responsible. I refused to sign it and I said ill just have it sent to the designer to have it set. They then called the designer and said they have the same sort of form for me to sign if I wan them to do it. I declined again and went on my way with diamond hand. So my question is whether or not this is a common thing? I personally view this form as a way for someone who has no trust whatsoever in what they do to cover their butts. However I'm new to all of this so I'm just looking for an expert opinion on the matter. I appreciate any help I can get.

 

[braga123]

I have reset my diamond several times and have never been asked to sign a release form. My main e-ring only gets reset with the jeweler who sold me the diamond, but he does expect that I have insurance on my diamond. As for the other diamonds that I reset, like my OEC, which I bought elsewhere, jeweler #2 (I have a few) does NOT guarantee my diamond. Jeweler 2 sold me the setting, set the diamond for free, but verbally warned me that he was not responsible should any damage happen to the diamond during the process. However, he reassured me that he has never damaged a diamond and that he is trustworthy. I know of another chain store that charges 100 dollars per carat to set an outside diamond in one of their settings and they do cover damages. I think the price is high because they apply it to temporary insurance. If you bought the insurance, you would probably pay close to that per year. You should insure your diamond and then have it set. I don't blame them for having these forms. Why would they risk so much to gain so little in profit? I don't think it has anything to do with their skill or workmanship, but rather, your right to know that there is always a risk involved.

 

[Gypsy]

Most jewelers will not insure your diamond when it is being set unless you've purchased it from them. This is normal. That's why you need insurance... and because you need it anyway to ensure against loss and damage while worn.

You should have the setting sent to the vendor you bought the stone from, not the other way around. That way all you incurr is usually a 100-200 setting fee and they insure your diamond while setting.

Release forms are not uncommon, and are frankly smart of the vendor.

 

[WinkHPD]

Agree with Gypsy that release forms are smart on the part of the jeweler to protect himself from the loss of many thousands of dollars for a job normally costing less than $100.

I do not understand the part about losing the diamond though. If it is in my possession, it is in my responsibility.

Wink

 

[MarionC]

You can contact Jewelers Mutual. They will insure the loose stone after you have picked out the setting and the stone is about to be set.

 

[Texas Leaguer]

Not all jewelers require release forms for working on customer's property. Some jewelers rely upon verbal consultation regarding the risks, but it is common practice among professional companies to formalize this understanding. It is designed to ensure that all parties are protected against the dangers inherent in performing work on jewelry (or at least aware of them). While the risk may be very low, especially for a simple setting of a round diamond, the risk still exists. The risk is elevated when setting princess cuts because of the additional vulnerability of points.

Jewelers tend to be much more comfortable setting the stones they sell to customers because they are familiar with the material and have ready access to replacement of like kind and quality. Setting a stone provided by the customer can involve a great deal of uncertainty in terms of the implications of any damage that may occur.

The fact that a jeweler requests a release form should not be seen as a reflection on his abilities. Rather, it is a healthy practice that gets everyone on the same page. You don't want to hear, after the fact, the jeweler disavow responsibility or try to rectify the situation in a way that is not acceptable to you.

 

[r1505]

Ok well it looks like this is very normal! Thank you all very much for responding I appreciate the help.