David Wolfe - Appraiser?

[galatie]

Hi all,

Made an appointment to get our ring appraised in NYC by David Wolfe, who has been recommended here by a few members - found out the appraisal will cost $300 though, which seems a tad expensive to me... for those pricescope members who have used him, is it worth the price? Does this price seem reasonable, or can anyone suggest another appraiser in the New York area?

Thanks!

 

[Bosie]

Hello,
He did work for me back in 2003. His prices then were much lower. I think it goes by the size of the stone. I can say he did a good job, a nice detailed written report I gave my insurance company. One point which I did not know. He originally appraised just the stone, I sent the report to the insurance co, and they told me they do not insure loose stones. So I kept the stone, had it set, and then David did the appraisal again, but of course there was an extra fee for this work. You may want to ask about this so there is no surprise. Best of luck.

 

[diamondseeker2006]

Where did you buy your stone and setting?

 

[galatie]

whiteflash

 

[diamondseeker2006]

I have never sought an additional appraisal from diamonds I bought at WhiteFlash. I have added them to my insurance using the sales receipts and diamond grading reports. My daughter was given a WF engagement ring, and they insured with the insurance valuation that came with the ring because they used Jeweler's Mutual who required they use the higher valuation as opposed to the sales receipt. If that happens, you just overpay at the outset and don't have to reappraise for a long time until the value of a new diamond exceeds your coverage. I don't need an extra appraisal because the diamonds are AGS or GIA graded, so they have already been evaluated by a neutral source. I surely wouldn't pay $300 under these circumstances. I would seek an appraisal for a valuable antique ring or second hand ring, however.

 

[galatie]

interesting post, diamondseeker, but how do you know that the certificate matches up to the stone you received without getting it appraised? Maybe I'm being overly paranoid, but this is our first time making such a big purchase via the internet

 

[diamondseeker2006]

Well, WhiteFlash is reputable and you don't have to worry about any intentional switch, obviously, but you can go in any high quality jeweler and ask them to verify that a diamond matches the report if it makes you feel better. They might have a nominal charge, but it won't be much if any. If the diamond is VS2 or lower, you can pretty much look at it with a 10x loupe and verify yourself. It is hard to do with VS1 and higher.

 

[galatie]

thanks, diamondseeker, you are a wealth of info!

 

[diamondseeker2006]

You are most welcome! It also is sometimes necessary to get an appraisal when the diamond and setting are bought at different places. I did buy a diamond and had it set locally one time, but that jeweler wrote up an insurance valuation for me for free! The diamond grading report was included, so I was fully insured and my stone represented just fine by the grading report.

 

[Bosie]

Well, no one is doubting the high standards of WF or other vendors on this forum. However, it you are spending alot of monies on the diamond then $300 is a small percentage to have an "independent" person evaluate the stone. OP, I don't think the appraisor can evaluate the stone properly if it is in its settings, others will have to comment on this, so it has to be removed from the setting. I personally want an independent source to back up the GIA/AGS report. What would you do if the appraisor told you he disagreed with the AGS/GIA report and said the color was not an "I" but rather a "J"? Would you keep it or return it? Or the appraisor disagreed with the clarity of the stone. Hey, you are paying for these factors. In my case, David disagreed with the AGS report on the color of the stone and I had a dilemma whether to keep or return the stone to the seller. Best of luck.
edit: It has been my experience that the appraisal value is higher than what you actually paid for it, so the appraisal will be the value the insurance company uses as its replacement value. I guess you could use the original bill of sale, but then you would have to update the insurance company with an appraisal every few years to stay current. Again, best of luck.

 

[pmbspyder]

i used him for my ring. cost was around what you quoted. he's very thorough, will give it to you straight, and a lot of makers in the industry go to him. wihle i was there leon M. strolled in for a quick chat. kinda cool i guess. but yeah, he gives a thorough write up, measurements, specs, plot charts, his own pics, etc. pretty bulletproof for an appraisal, all told it came out to like a 25 page pdf file. good luck with whatever you decide to do -