Inherited diamonds. Appraise?

[gorgorita]

Hi,

I really need your help on this. Few years back I researched all about diamonds, angles, tables and such to buy a nice engagement ring. (Well, my boyfriend at the time bought it but I was the one picking it out. Now, I don''t remember a thing and would like to ask you all where should I start. Anyway, the reason I am asking is that I inherited some of my aunt''s jewelry and I don''t really know value of them. Some of the jewelry is diamonds dating 20 or so years back. There are 2 diamonds of 2 or more ct and few smaller than a carat. I would like to appraise them and decided to either go to a lab or to an independent appraiser.
What would you recommend for appraising a diamond with no papers? Lab or appraiser? (diamond were bought in Eastern Europe where my Aunt lived her whole life)
What are the most important things I should know about before going to an appraiser? I mean, maybe some criterias beside 4 Cs?
What else should I learn in order to ask the right questions? I don''t want spend money and don''t get all the info, if you kwim?
Any thoughts and suggestions will be welcomed.

Also, among these diamond there are few stones like ruby and emerald. Should I brought them with me or don''t bother with it? The idea is also to get the most valuable insured.
Thank you!

 

[denverappraiser]

Labs don’t appraise so it will depend on what you are trying to accomplish by your session. The difference has to do with assigning a value to a particular market although also there’s differences in that most appraisers work with jewelry while the labs are strictly about unmounted diamonds. Most of what we appraise lacks lab paperwork and I don’t know any appraisers who aren’t familiar with this sort of assignment.

What''s the reason you want to get it appraised?

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[neatfreak]

If you want market values to insure it you''d need to get it appraised. Certifying the stone wouldn''t be enough. That said, it''s probably worth your time to go to a well known appraiser (or send your good there). DO NOT get it appraised by someone who works in a jewelry store, you want someone who only does appraising.

Where are you?

 

[gorgorita]

Hi,
I want them appraised because the diamonds are at least 2 carats and are old cut so I want to know the value. Also, for insurance purposes. I also wanted to use one of the diamond in a ring, so taking out of a setting is no problem.
I guess, I need to know the market value, insure it. What would you do if you inherited jewelry you don''t know nothing about?

I live in Chicago, IL

 

[gorgorita]

also, should I certify them? I mean, do I need to send it to GIA or similar?

 

[neatfreak]

Date: 12/3/2008 12:59:09 PM
Author: gorgorita
also, should I certify them? I mean, do I need to send it to GIA or similar?

Only if you intend to sell them. Otherwise, I wouldn''t bother.

 

[Pandora II]

Remember that an insurance or replacement value is not the same as an appraisal of what you could expect to get if you tried to sell them.

 

[Char D]

Lucky you inheriting jewelry! Here''s a little information about what an insurance appraisal should cover. I hope it helps!

http://www.jewelersmutual.com/USAPersonalSubPage.aspx?id=258