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Diamond value

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diana

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Mar 9, 2005
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Does anyone know of a source of calculating the value of a diamond in 1974 at today''s prices? I am in the UK.

A disastrous thing has happened - on Friday I went to take off my diamond solitaire ring and the stone was missing! I cannot explain how this has happened as I had never felt it loosen or catch on anything that day. The ring was left to me by my mother when she died 13 years ago. It was not itemised in her will, but all her posessions were divided between my sister, my brother and myself including her jewellery. I had this large solitaire diamond set in a platinum ring and another which I look after for my daughter. We have searched and asked at everywhere I went and although I feel sure it must have been lost not long and therefore be at my home, we cannot find it. We have checked the insurance details and to my horror have realised that although the insurance policy covers all my posessions including jewellery up to £1,500, the valuation and close up photograph I had of my jewellery was done some years before my mother died and is only of other jewellery left to me by my grandmother. I am therefore left with only a valuation from 1974 which doesn''t even give details of the diamond''s cut and which I can only guess which ring on the list is the one which now has the stone missing. My guess is that the stone may be worth around £1,200 but this old valuation gives a solitaire diamond ring as £240.

Having searched for 4 days now, I need to contact my insurance company to make a claim, but, however unsatisfactory the information, I would like to have bet able to estimate the value based on something, other than merely my say so.

Any advice gratefully received.
 

Garry H (Cut Nut)

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What is was worth and what it is covered for are completely different issues I am afraid.
Get a claim form from your insurance Co, and a quote from a jewellery store for a comparable ring.
 

Richard Sherwood

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If you figure an average annual increase of 5% since 1974, it should put you in the neighborhood of a current retail value, depending on the accuracy of the 1974 figure.
 

denverappraiser

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This is not as unusual a circumstance as you might think. What you are asking for is an appraisal where some of the information is stipulated as fact. These are known as hypothetical assumptions. In your case, there are lots of them. Step #1 is to contact your insurance company and start the claims process. They will assign an adjuster to you who will interview you and collect whatever information is available. There’s a pretty good chance that they will send you to an appraiser or a replacement company (who will hire an appraiser). The description from the 1974 valuation may prove to be useful. Photos of you or your mother wearing the piece in question would be helpful, as would any original paperwork from the initial sale. You mentioned that you had the stone reset. The jeweler who did the work may have some records or the paperwork associated with that purchase may include important information, like the size and shape of the stone.


In most cases like this, the details of your insurance policy are more important than the details of the lost property or of the incident and the adjuster should be able to explain them to you. Trying to guess a valuation yourself is going to be a frustrating experience that is unlikely to help your position. Call the company.

Neil Beaty
GG(GIA) ISA NAJA
Independent Appraisals in Denver
 
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