BartSimpson
Rough_Rock
- Joined
- Jun 1, 2003
- Messages
- 3
i purchased an engagement ring online from uniondiamonds.com for $8245.
it''s an EGL-certified diamond with a solitaire 4-prong setting (i went for the $85 setting bcos my fiancee and i are going to go shopping for the final setting after i propose). here''re the specs for the diamond (according to the EGL certificate):
weight: 1.68 cts
measurements: 7.75 x 7.78 x 4.70
shape/cut: round brilliant
depth/table: 60.5%/55%
colour/clarity: H/SI1
polish: excellent
symmetry: excellent
fluorescence: none
comments: "diascript on girdle", excellent ideal cut
uniondiamonds also included an appraisal with the purchase which only lists that the ring is 1.68 cts, H, SI1 and the measurements but doesn''t mention anything about the cut, polish, symmetry, table percentage etc. the total appraisal value is $10,200 (excluding taxes, based on "current retail value").
i also had the ring appraised from an independent appriaser who''s an M.G.A (alison lebaron, lebaron laboratory, granite bay, ca). her appraisal (according to GIA standards) is as follows:
round brilliant 1.68 cts (7.8 dwts)
colour H
clarity SI2 (compared to SI1 on the EGL certificate)
54% table, 34.5% crown angle, 44% pavilion
ext thin to thin girdle
no cutlet
no florescence
excellent polish/excellent symmetry
she lists the appraised value based on "cost approach to value" (replacement value) as $13,850 (7.75% CA sales tax included). her appraisal obviously has a lot more information than what the jeweler provided me but the appraised value is also considerably higher (even though according to GIA standards, the diamond is SI2 rather than SI1, which is something i expected and even the jeweler told me about).
so here''s the summary so far:
cost: $8,245
jeweler appraisal: $10,200
independent appraisal: $13,850
i''m almost certainly going to insure this ring with chubb. for the $10,200 appraised value, the premium in sacramento area will be $193/year. i don''t know what it''ll be for the $13,850 but i imagine it''ll be around $262 (using $1.89/$100). i''ve a couple of questions about all this:
- first, is such a huge discrepancy between the independent appraisal and the cost/jeweler''s appraisal normal?
- since chubb has a no-hassle cash payout policy, shud i just use the $10,200 appraisal even if it doesn''t have all the details (cut info, table/crown/pavilion angles, etc). this''ll certainly reduce my premiums by $69/yr and a cash pay-out of $10,200 shud be enough for me to buy a similar ring on my own. or shud i go for the detailed but higher $13,850 appraisal instead?
- my fiancee and i are going to have the ring re-mounted in a setting of her liking. let''s assume the new setting costs $1,000 (with new sidestones or whatever). does this mean i shud have the ring re-appraised after having it re-mounted?
- if i don''t get a new appraisal after the re-mounting, how do i have chubb update the official description of the ring in the policy and, potentially, the new value of the ring?
sorry for the long posting but i just wanted to provide as much as detail as possible. thanks in advance for all the answers. this forum has been a great help in all my planning!
it''s an EGL-certified diamond with a solitaire 4-prong setting (i went for the $85 setting bcos my fiancee and i are going to go shopping for the final setting after i propose). here''re the specs for the diamond (according to the EGL certificate):
weight: 1.68 cts
measurements: 7.75 x 7.78 x 4.70
shape/cut: round brilliant
depth/table: 60.5%/55%
colour/clarity: H/SI1
polish: excellent
symmetry: excellent
fluorescence: none
comments: "diascript on girdle", excellent ideal cut
uniondiamonds also included an appraisal with the purchase which only lists that the ring is 1.68 cts, H, SI1 and the measurements but doesn''t mention anything about the cut, polish, symmetry, table percentage etc. the total appraisal value is $10,200 (excluding taxes, based on "current retail value").
i also had the ring appraised from an independent appriaser who''s an M.G.A (alison lebaron, lebaron laboratory, granite bay, ca). her appraisal (according to GIA standards) is as follows:
round brilliant 1.68 cts (7.8 dwts)
colour H
clarity SI2 (compared to SI1 on the EGL certificate)
54% table, 34.5% crown angle, 44% pavilion
ext thin to thin girdle
no cutlet
no florescence
excellent polish/excellent symmetry
she lists the appraised value based on "cost approach to value" (replacement value) as $13,850 (7.75% CA sales tax included). her appraisal obviously has a lot more information than what the jeweler provided me but the appraised value is also considerably higher (even though according to GIA standards, the diamond is SI2 rather than SI1, which is something i expected and even the jeweler told me about).
so here''s the summary so far:
cost: $8,245
jeweler appraisal: $10,200
independent appraisal: $13,850
i''m almost certainly going to insure this ring with chubb. for the $10,200 appraised value, the premium in sacramento area will be $193/year. i don''t know what it''ll be for the $13,850 but i imagine it''ll be around $262 (using $1.89/$100). i''ve a couple of questions about all this:
- first, is such a huge discrepancy between the independent appraisal and the cost/jeweler''s appraisal normal?
- since chubb has a no-hassle cash payout policy, shud i just use the $10,200 appraisal even if it doesn''t have all the details (cut info, table/crown/pavilion angles, etc). this''ll certainly reduce my premiums by $69/yr and a cash pay-out of $10,200 shud be enough for me to buy a similar ring on my own. or shud i go for the detailed but higher $13,850 appraisal instead?
- my fiancee and i are going to have the ring re-mounted in a setting of her liking. let''s assume the new setting costs $1,000 (with new sidestones or whatever). does this mean i shud have the ring re-appraised after having it re-mounted?
- if i don''t get a new appraisal after the re-mounting, how do i have chubb update the official description of the ring in the policy and, potentially, the new value of the ring?
sorry for the long posting but i just wanted to provide as much as detail as possible. thanks in advance for all the answers. this forum has been a great help in all my planning!