I am getting my wife''s engagement ring re-appraised for insurance purposes. The basic specs are .74 carat, round cut, G color, VS1, good proportion and very good symmetry. I bought it in March 2000 from a family friend for
$4000-5000 (I cannot remember exactly), and it was appraised at that time at about $9000. I am now being told that its appraisal value is closer to approx. $4,500. I am just curious if the market has changed that much since 2000 (e.g., if demand was much greater then), or if one of these appraisals is wildly off base.