Buying & Appraisal Process

[DiamondDreams]

I''m wondering what the buying process should be from an online vendor. I''d like to have them send me the diamond loose, get it appraised on my own and if I like it, send it back for setting. Is that a normal process and should I be concerned of diamond switching? Should I get it re-appraised after it''s set? Can decent appraisals be done with diamond in the setting?

Also, is it a big deal for appraisers to remove the setting for the appraisal, or is that standard. If so, should I just order the diamond in setting and have it appraised, thereby skipping the step of sending it back to the company?

Help?

 

[^]

Others will chime in, but my understanding is that it''s fine for you to have the stone sent to you loose, inspect it, have it inspected by a professional, if you like it send it back to be set, then when you receive it back, your appraiser should be able to verify quite quickly (ie, not charge you a full appraisal) that it''s the same stone, and give you an appraisal which includes the setting. IMO, there''s no need for two appraisals (ie, written report of value), only the initial inspection to confirm that it''s the specs that the vendor says it is, a final check of the set stone to confirm no switching, and a final appraisal of the set ring for insurance purposes. By all reports and full inspection of a loose stone is preferred, but it is not impossible to inspect a set stone. I believe most appraisers would not remove the loose stone for the appraisal.

The process above is what I''m currently going through with RockDoc. In fact, the party who sets the ring has an interest in having the setting verified by a 3rd party to give them security so that you can''t claim it''s not the same stone.

Good luck,
^

 

[Regular Guy]

Carat,

Are you near Rock?

Can you speculate if you weren''t, and you still wanted to use Rock, how you''d do it?

DiamondDreams

I agree with carat on the approach he''s taking. Also, the work of putting in the diamond in the setting is another thing I think you will want an appraiser to take a look at, since the way the diamond is affixed in the ring can be an area of concern...so the appraiser''s eyes, before and after the setting...but with one document at the end, I think are the way to go.

 

[denverappraiser]

Yes, this happens all the time. Many of the dealers and many of the appraisers are happy to cooperate with the process. Depending on what you’re trying to learn from your appraisal, examining the stone in the mounting may or may not be sufficient. There are several things, like a direct weight, that obviously can’t be done on a mounted stone. Sarin scanning for cut grading is another example. There are quite a few such things. If what you’re looking for is a matching of the stone to a lab report as carat is discussing, this can usually be done mounted with very little trouble. If you want more information than the dealer can or will provide than it’s best that it be unmounted.

It’s almost always a violation of your return privilege to have the stone removed and reset by anyone other than the seller. If you’re planning on having it examined loose, have the seller pull it before sending it to the appraiser. Under no circumstances should you have the stone taken out without specific permission from the seller if you are concerned about your ability to make a return based on the results of the appraisal.

The examination of the completed ring will also depend on what you’re trying to learn. Enough paperwork to get the company to bind a policy is pretty easy and most jewelers are happy to provide it. Thorough documentation so that a replacement after a loss will leave you whole can be pretty time consuming. The final appraisal is also the time to inspect for craftsmanship concerns, damage that may have occurred during the setting process and other details that the jeweler may be less than forthcoming about.

The most conservative approach is to have two appraisals, one on the unmounted stone that is used as part of the shopping process and one on the final piece that is used for quality control and insurance purposes. The least expensive is to believe what the dealer tells you and to submit their paperwork to the insurance company. There are several options in between and where you fall on this continuum depends on your trust in the dealer and insurance company, what the dealer supplies and your general approach to this sort of thing.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver