Getting an appraisal

[3cd4her]

If anyone can provide some details or links to the best approach to an appraisal before buying a diamond I would really appreciate it.

Basically I am in the market for a ring and want to know the best approach for getting what I''m paying for before I pay for it. It would most likely be an online vendor purchase. Will the vendor send the loose diamond to the appraiser prior to my purchase, and then will I have some say if their cost is too high?

 

[Regular Guy]

Date: 1/14/2009 6:04:20 PM
Author:3cd4her
If anyone can provide some details or links to the best approach to an appraisal before buying a diamond I would really appreciate it.

Do look through the FAQ section above...one of the other forums besides from Rocky Talky....for several general good links and discussion.

Will the vendor send the loose diamond to the appraiser prior to my purchase

Frequently, and even in advance of your paying a dime...

and then will I have some say if their cost is too high?

Usually, the say is yes or no at that point. If you go with Pricescope vendors, usually pricing is what it should be. But...the diamond may or may not be what you want. Consider describing to the appraiser what you want before he or she gets the diamond...and have them partner with you on determining on whether you did get that or not.

 

[3cd4her]

Thanks. I figure I''m going to get what I''m paying for with a vendor from Pricescope (whiteflash, excel, engagementringsdirect), which is mostly where I''m looking. Is it worth having an appraisal done if I purchase from one of the recommended vendors here even with all of the reports and tests the can perform themselves? I would definitely get an appraisal if I purchased from the diamond district, however.

"But...the diamond may or may not be what you want."
You mean by sitting down in person and reviewing the stone with an expert in person?

 

[Lorelei]

Date: 1/15/2009 12:47:53 AM
Author: 3cd4her
Thanks. I figure I''m going to get what I''m paying for with a vendor from Pricescope (whiteflash, excel, engagementringsdirect), which is mostly where I''m looking. Is it worth having an appraisal done if I purchase from one of the recommended vendors here even with all of the reports and tests the can perform themselves? I would definitely get an appraisal if I purchased from the diamond district, however.

''But...the diamond may or may not be what you want.''
You mean by sitting down in person and reviewing the stone with an expert in person?

It depends on your comfort level, an appraisal is normally included which you can use for insurance purposes, but if you want an impartial opinion on your diamond and its cut quality with a detailed report to that effect, then an independant appraiser is the way to go.

 

[Chili_Willy]

Date: 1/15/2009 3:13:32 AM
Author: Lorelei

It depends on your comfort level, an appraisal is normally included which you can use for insurance purposes, but if you want an impartial opinion on your diamond and its cut quality with a detailed report to that effect, then an independant appraiser is the way to go.

This was exactly my recent experience with Whiteflash. They sent the loose diamond out to me with an independent verification of the stone and certificate - it said "not an appraisal" on it but did list an approximate retail value of roughly 150% what I paid. Still, I took it to an independent appraiser. Their replacement value was inline (though slightly higher) with that stated on the verification letter. Of the record the appraiser (knowing how I bought the stone) told me what they thought I paid and what the wholesale value was. The actual price to me lay in the middle of the two, which made me feel great about two things at the same time - my appraisers competence and the deal I got from Whiteflash. Thank You James!

Edit - I should note I paid for the stone before seeing it in real life, but I felt safe with them and all the images they provide. Only Good old Gold beats them in the online presentation of the actual stones I feel.

 

[Regular Guy]

Date: 1/15/2009 12:47:53 AM
Author: 3cd4her
Thanks. I figure I'm going to get what I'm paying for with a vendor from Pricescope (whiteflash, excel, engagementringsdirect),

...two points of clarification...

1) a) I'm delighted to have been seeing Judah from Excel recently on Pricescope
b) have frequently myself recommended them as a shop...where you can get some particularly good value, especially on princesses
c) usually look for his posts and read them, because I do find he's a good writer, and refreshingly clear, straight, and self possessed, thinker
d) and anticipate his involvement on this board may be in advance of their becoming also a contributor otherwise...I suppose...meaning specifically a supporter/advertiser
e) not that he shouldn't feel welcome to only be a poster in these threads, as other businesses, who are otherwise very worthwhile contributors, do, and should continue to do
f) and also...not that this might really even be any of my particular business...as to who pays to advertise here or not
g) except that...having been here nearly 5 years, and having spent a g-d awful part of my life on this board, having even been drawn in earlier by Leonid, the previous owner of this board, and being in general awareness that the board does exist by way of those who fund it...I am grateful further for the board's existence, and appreciate that without such funding, it would not exist.

2) So I guess I take exception to your description of excel as a Pricescope vendor...as I wouldn't characterize them as one...at least not yet.

 

[Judah Gutwein]

Ira,

You are very kind and your position is sound.
I am cognizant of the fact that a reputation must be built and respect earned, just as I realize that incredible forums such as these do not exist without proper funding. Hopefully, we'll have the opportunity to work on all 3 fronts in this incredible medium.

I do not/will not take this forum and this incredible opportunity for granted.

Thanks!

 

[Judah Gutwein]

3cd4her,

I would always encourage an independent appraisal for several reasons:

1. However reputable a jewelery store/vendor may be, they still have an inherent and vested interest to validate the sale. In fact, if they are altogether unscrupulous, they may even be inclined to inflate their "appraisal" "value" of the diamond vis-a-vis what they charged you for it, in order to make you feel like you got a great deal.

2. On the other end of the spectrum, jewelery stores who advertise "free" or "cheap" appraisals, will often do this in an effort to get you into the shop with another company''s jewelery. This gives them the convenient opportunity to bash the product in an attempt to get you to send it back and to buy something from them instead. Essentially, their vested interest goes in the opposite direction...

3. Independent appraisers (Dave Atlas, Richard Sherwood, Denver Appraisers being some of the well known experts who contribute here..) are incredibly knowledgeable, competent, thorough and comprehensive with respect to their reports and appraisals. Because this is exclusively what they do for a living, they are truly independent with no conflicting allegiance to anybody but the consumer. In addition, they will have extensive tools and scientific metrics at their disposal to quantify and qualify the increased value and specificity of a well cut diamond, above and beyond a simple confirmation of size, color and clarity. This increased specificity which they document in their reports, will go a long way towards allowing you to find a replacement for like size, color, clarity, certification pedigree and CUT, in the event that you need to file a claim.

To this end, you can inquire about having your stone sent for an appraisal prior to purchase, or you can use your no risk time frame for returning the stone, to get the diamond independently appraised.

Best of luck!

 

[3cd4her]

Thanks, these were just the replies I was looking for. I think I have no doubt now to do the appraisal before hand and that $300 is a good price to pay for piece of mind on a $20000 purchase. I just hope that I have no doubts about the stone as I would assume I would have to pay for each stone appraisal if I didn''t for some reason choose that stone. But I think that would only happen if there was something I completely didn''t expect.

One last...

Would I want to have the vendor I purchase from run their "tests" prior to my decision to send it off to an appraiser in case for any reason the stone turned out not as expected from the paper? Just trying to save some money on not having to do multiple appraisals.

 

[Regular Guy]

Date: 1/15/2009 6:53:12 PM
Author: 3cd4her

Would I want to have the vendor I purchase from run their ''tests'' prior to my decision to send it off to an appraiser in case for any reason the stone turned out not as expected from the paper? Just trying to save some money on not having to do multiple appraisals.

There''s variation on the continuum.

shooting from the hip...

GOG is known for doing extensive testing before they let shoppers even know their diamonds exist.
At the other end of the spectrum may be drop shippers like USA Certed...which will write up a diamond...but I don''t think posts grading reports...from a quick review. Though...in even the worst case...drop shippers, some of whom do include these reports on their sites, including Blue Nile, may have good relationships with their providers, to learn more about the diamond.
WF and Infinity dealers seem to have fairly extensive stocks to reference, and extensive pre-done test results.
JA has extensive stock, but there range of testing is constrained.
Probably, if pushed, anybody will bring in a diamond and look at for you before sending it to you, as you say...though some may have to be pushed to do this...and some will add more vs less value in doing so.

 

[diamondseeker2006]

Truthfully, there was so much information on the stones that I bought from GOG and WF that I could not possibly see a reason to have an independent appraisal. I considered that AGS and GIA were my independent appraisers, and pricing is easily compared on the price search tools. I''d absolutely get an appraisal on a stone that did not have AGS or GIA certs, however. We insured my stones for the purchase price and raise it occasionally for inflation.