Gee, I'm learning so much, also getting so many nice complements on my ring from my new friends on PriceScope. Thanks in advance for what's to come! Now my questions: How should I insure a unique, antique/vintage diamond ring? I would like to insure my 4.28 carat old mine cut (OMC) diamond. Link to article below:
[URL='https://www.pricescope.com/community/threads/my-new-ish-4-28-omc-old-mine-cut-mens-diamond-ring.163498/']https://www.pricescope.com/community/threads/my-new-ish-4-28-omc-old-mine-cut-mens-diamond-ring.163498/[/URL]
Obviously there are not very many 4 plus carat OMC diamonds floating around at any one time. If this were ever lost/stolen/broken/etc. it would be difficult or impossible to find an OMC diamond (per GIA) of 4+ carats in a color of O-P, VS1, let alone one of a comparable cut since OMC’s aren’t standardized. (Some OMC’s are gorgeous and others are dogs, even if they have the same color/clarity.) Therefore, how would we ever determine the appropriate replacement price, let alone actually replace it? Of course this would not be a problem with say, a 1 carat modern round brilliant (MRB) diamond since there are plenty of these out there. I'd consider going to a new, more widely available cut, e.g. a new cushion cut or an August Vintage Cut (AVC) (I'm not into MRB's), but would I wind up with a 1 carat D VVS1 diamond - nice, and maybe comparable in value but not what I want for a men's ring?!
By the way, I'll probably go with Jeweler's Mutual per advice I've received here in the past. I guess they would work with me and allow me to pick the jeweler who would find the replacement. Even so I wonder: would my allowance be the appraised value I'd been paying for or the amount they deemed appropriate for a “comparable” stone? Again there really are no comparables out there! I wouldn't want them to come up with a stone of similar size and color, but poorly cut and tell me I'd have to settle for that.
One more complication: What’s the appropriate appraised value? I had a well qualified appraiser give me a value of $28,000 a couple of years ago before I had the stone recut (chips removed, bruted girdle faceted; also before it was graded by GIA.) Since then it’s been appraised by another well qualified appraiser (SingleStone) at $42,000. (SingleStone had a GIA appraisal to help; the first did not.) Maybe the stone is worth more now (it does look a lot better!), or maybe it’s just difficult to fix a price since there are so few stones like this for sale at any one time?! I don’t want to pay for $42,000 worth of insurance if it could be replaced for something like $28,000. But I wouldn’t want to be given $28,000 and find out it would cost $42,000 to replace either!
Thanks again for help with this!
[URL='https://www.pricescope.com/community/threads/my-new-ish-4-28-omc-old-mine-cut-mens-diamond-ring.163498/']https://www.pricescope.com/community/threads/my-new-ish-4-28-omc-old-mine-cut-mens-diamond-ring.163498/[/URL]
Obviously there are not very many 4 plus carat OMC diamonds floating around at any one time. If this were ever lost/stolen/broken/etc. it would be difficult or impossible to find an OMC diamond (per GIA) of 4+ carats in a color of O-P, VS1, let alone one of a comparable cut since OMC’s aren’t standardized. (Some OMC’s are gorgeous and others are dogs, even if they have the same color/clarity.) Therefore, how would we ever determine the appropriate replacement price, let alone actually replace it? Of course this would not be a problem with say, a 1 carat modern round brilliant (MRB) diamond since there are plenty of these out there. I'd consider going to a new, more widely available cut, e.g. a new cushion cut or an August Vintage Cut (AVC) (I'm not into MRB's), but would I wind up with a 1 carat D VVS1 diamond - nice, and maybe comparable in value but not what I want for a men's ring?!
By the way, I'll probably go with Jeweler's Mutual per advice I've received here in the past. I guess they would work with me and allow me to pick the jeweler who would find the replacement. Even so I wonder: would my allowance be the appraised value I'd been paying for or the amount they deemed appropriate for a “comparable” stone? Again there really are no comparables out there! I wouldn't want them to come up with a stone of similar size and color, but poorly cut and tell me I'd have to settle for that.
One more complication: What’s the appropriate appraised value? I had a well qualified appraiser give me a value of $28,000 a couple of years ago before I had the stone recut (chips removed, bruted girdle faceted; also before it was graded by GIA.) Since then it’s been appraised by another well qualified appraiser (SingleStone) at $42,000. (SingleStone had a GIA appraisal to help; the first did not.) Maybe the stone is worth more now (it does look a lot better!), or maybe it’s just difficult to fix a price since there are so few stones like this for sale at any one time?! I don’t want to pay for $42,000 worth of insurance if it could be replaced for something like $28,000. But I wouldn’t want to be given $28,000 and find out it would cost $42,000 to replace either!
Thanks again for help with this!
300x240.png)