Custom setting concerns

[SnowWhite]

I am considering having a custom setting made. The jeweler I am working with has asked for a 30% deposit and for me to mail my diamond to him - he needs the diamond on hand in order to set it into the setting.

I feel a bit uneasy about shipping my diamond across the country, but with insurance I suppose I can get over that. However, once the jeweler has possession of my stone, and my 30% deposit what leverage do I have if something goes wrong? As I see it the only thing I could do is dispute the 30% charge with my credit card. But what about my stone?

I know the jeweler is reputable but I have had bad experiences with other service providers who had good reputations (nightmare home building experience), so blind trust is tough for me.

Anyone else have to overcome that sinking pit of the stomach feeling when mailing off their cherished diamond?

 

[aviastar]

Your stone will have to be out of your possession at some point no matter what; it has to be set and you cannot set it. Whether you go custom with this jeweler or if you buy a setting and take it to a local bench, someone will have your stone for at least a little while as the work gets finished.

So- take the precautions you can and rely on the fail safes you have put in place. Insure the loose stone; this is good for the mailing part but also in case the stone is lost or stolen or damaged during setting. Send the stone registered mail; now you have a receipt that the jeweler acknowledged receiving the stone. Pay your deposit with a credit card; you will have a record of the transaction and a third party to back you if you need to dispute. Save emails and note phone conversations with your jeweler, so you have a record of stated time lines, estimates, ect.

Between the credit card company and the insurance company, you will have help pursuing any claim you have if something should happen. All that said, everything will probably go much smoother than you anticipate, especially if your vendor is a vetted Pricescope merchant- there is power in posting here all to your benefit and the vendors know it.

Best of luck, and let us know how it goes!

 

[swingirl]

What are your concerns?

Poor workmanship on setting?

Not following your design?

Loosing or swapping your stone?

Jeweler going out of business?

 

[SnowWhite]

Swingirl, I am concerned about all of those things! LOL

Aviastar, when you mention insurance do you mean something besides the insurance from FedEx covering it during shipment? Is there another kind of insurance I should buy - things to address any of the million things that can go wrong?

 

[slg47]

Swingirl, I am concerned about all of those things! LOL

Aviastar, when you mention insurance do you mean something besides the insurance from FedEx covering it during shipment? Is there another kind of insurance I should buy - things to address any of the million things that can go wrong?

yes, you can get insurance on your stone so it is covered during the setting process.

does the setting vendor have a return policy if you are not satisfied with the work?

 

[Maisie]

I thought Fedex doesn't insure loose diamonds.

 

[D&T]

I thought Fedex doesn't insure loose diamonds.

To my knowledge, only if the jeweler that is accepting the stone has a relationship with Fedex via a third party insurer (which usually means they will send you a fedex label and bill you at the end of it all - at least the couple of times I've sent loose diamonds back and forth, the vendor prepaid the fedex label, emailed it to me and charged me on my final invoice) We as customer cannot insure loose diamond ourselves through FEDEX...

I can't remember what I was told when I contacted Jewelers Mutual, but I know Gemshield does not insure loose stone via in transit, however will insure during setting.


Please go through registered USPS.

 

[eddiexp]

As far as jewelers mutual, I confirmed that do not insure loose stones by itself, but I believe they might insure loose stones that are intended to be set into a setting, such as the OPs situation. Call them up and ask them how that works, I would imagine you might need an appraisal on the loose stone though? I think they require you to submit an appraisal within 10 days of applying. Good luck!

 

[slg47]

As far as jewelers mutual, I confirmed that do not insure loose stones by itself, but I believe they might insure loose stones that are intended to be set into a setting, such as the OPs situation. Call them up and ask them how that works, I would imagine you might need an appraisal on the loose stone though? I think they require you to submit an appraisal within 10 days of applying. Good luck!

I was able to do this by supplying a receipt and also a estimate of the value of the setting.