I just want to check if this is the way I should be handling an order for a diamond...

[BigToque]

1. I find the diamond on the net that I want to buy.
2. Get insurance for the diamond (at price paid) before I get it shipped to me.
3. Pay for the diamond and have it shipped to me.
4. Take the diamond to an independent appraiser and have the stone appraised (and confirm that the stone I paid for is what I actually received)
5. Take the diamond to a jeweler to have my stone set into the ring I''ve purchased.
6. Get the stone w/ ring appraised again and then inform my insurance of the value from the appraisal.

Does this sound right? Anything you would do differently?

 

[burnban35]

I don't believe you can insure a loose diamond.

I found my diamond.
Paid for the diamond.
They overnighted to me. However it's done so if it's lost before I get it it's not on me.
Took it to an independent appraiser and had it appraised. It checked out just fine.
Ordered my setting.
Keeping the diamond very safe while it's loose and uninsured.
Will take the setting to the appraiser for an appraisal to see if it checks out.
Have the diamond set.
Appraiser will give me the full appraisal.
Take appraisal and Insure the ring with my insurance company.

Michelle

 

[mrmedoes]

According to the Chubb agent that I''m using, I need to have the diamond''s appraisal/description in my hands prior to insuring it. If you can find someone to insure you from the moment of purchase, more power to you, but I''m not sure that you can have anything insured officially until it''s been sold. I also know that some places will not insure loose stones for consumers, or at least something like that.

Also, a lot of vendors will ship to the appraiser of your choice prior to your receipt. I would probably go about it in that order if it is convenient (and possible) for you. That way, if it isn''t what you want, you don''t have to worry as much.

Will you be purchasing the setting from a separate place? If not, you may want to have it go loose to the appraiser to get your okay, then set or something similar. Some people like to have the stone loose and set in other places, and some people are okay, and may even prefer to go through one vendor instead of two (I know I do). Be sure to read about some of the issues that people have had getting stones set locally. Be sure to work with whoever is setting it (if not the people you''re buying the diamond from) to make sure that they don''t have a problem doing it. A few minutes of asking could save tons of worrying and issues later.

All in all, nothing you have said is wrong, but I do think it may be a little more work and handling than you have to do, but of course, that part is up to you. The only thing that I would be concerned with is the insurance - you may want to check on that.

I''m sure you''ll get a lot of opinions around here... remember, how you handle things is your choice in the end and whatever makes you happy and comfortable. Good luck!

 

[SquareCut]

Some people have posted that it can be very difficult to find a jeweler willing to set your diamond if they did not sell it to you. If you already have the setting, I suggest sending it to the diamond vendor to set your stone. My stone got chipped by the setter but the diamond vendor accepted responsibility for it.

Many of the pricescope vendors will provide the full service. send you photos, then send the stone directly to the appraiser of your choice. The appraiser can send it back to the vendor who can set it in a setting that you chose.

Chubb does not require an appraisal for anything under $50,000.

 

[chetina]

I just bough my earrings in www.buydiamonddirect.com.
After few months of researching in the net, I found out the price from www.buydiamonddirect is the cheapest price in the net.
I bought them, the setting my two stones in platinum basket. I paid by wire transfer, the next day I got my stones, I brought them to the jewelry store in my area to appraise my earrings.
Now I am thinking to buy the insurance for my earrings.