Diamonds/Metal increasing so fast -- how often for new appraisals now?

[lovewhitediamonds]

I have read many threads about getting appraisals done every 3-5 years. However, with diamonds/metal going up in price so fast over the past few months, I decided to get my ring "re-appraised" even though it was just done in Dec 2007. There was a SIGNIFICANT increase in it''s "value" amount.

If this trend continues will I have keep getting new appraisals every 4-6 months to keep my jewelry "protected" ?

Thanks for your help!

 

[DiamondExpert]

I don''t think even a substantial increase in metal prices would justify re-appraisal as frequently as you suggest, but if you have large diamonds (>2.5-5.00ct. and beyond) you need to be aware of price movements to the upside in the last year.

 

[lovewhitediamonds]

Date: 4/25/2008 12:55:15 PM
Author: DiamondExpert
I don''t think even a substantial increase in metal prices would justify re-appraisal as frequently as you suggest, but if you have large diamonds (>2.5-5.00ct. and beyond) you need to be aware of price movements to the upside in the last year.

Thanks DiamondExpert -- yes my center stone is in that range and according to the new appraisal went up a lot.
I just don''t want to overpay on the premium when they come down (or will they come down?).

Thanks again for your reply.

 

[surfgirl]

LWD, I had my annual Chubb premium come in last month and it included a standard 4% increase in value but given the recent price increases in plat. and larger stones, my agent asked my appraiser to re-value my ring and it was about $5k more than last year, and it doesn''t seem inflated because I''m clear what th replacement cost would be, and it''s right on the money. It''s all about how much out of pocket cost you can sustain if you had to replace right now...

 

[DiamondExpert]

LWD - at this point don''t hold your breath waiting for the larger stones to decrease in price, and I think metals prices look quite sustainable also.