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Just bought stone from GOG - Should I get appraisal??

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cdogstu99

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Jul 21, 2008
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So, I just pulled the trigger on a stone from Good Old Gold, and from what i can tell, it looks great. And the appraisal from GOG came in at about 3K more than what i paid. Should I get the diamond independently appraised now? Is the appraisal from GOG good enough for the insurance companies? I''m planning to send to Mark Morrell for a setting. Should I just wait til after its set to get it appraised? Also, does anyone know how much insurance costs per year?

Anyways here''s the stone i bought, I''ll try to get more pics up soon:

http://www.goodoldgold.com/diamond/5380/
 

Lorelei

Super_Ideal_Rock
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The diamond looks great! You could use the appraisal which is included with the diamond certainly, or you could get an independant appraisal with the diamond unmounted then just get a valuation once the ring is completed by the same appraiser to insure the whole thing. Or you could get the finished ring appraised as mounting permits.

I take it you have checked the diamond is eyeclean to your standards?
 

njseeker

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Jan 7, 2009
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congratulations! i bought from them too! I got two appraisals and I sent them both in to the insurance company. my insurance company used the GOG appraisal but I think that is because it was higher (more premium for them!)

honestly, i don''t know if you really have to get another appraisal report. GOG''s appraisal is very thorough and has a lot of information in it but I think many people like to have an independent appraiser take a look at their diamond for peace of mind. Usually, you send the stone itself to the appraiser. Once it is set the appraiser cannot evaluate it as well.

I used jewelersmutual.com... The insurance amount depends on your deductible and appraised value of the diamond. You can go on their site to get an estimate. I would guestimate your diamond is anywhere from about 140-260 per year depending on where you live. $260 being somewhere like nyc but I don''t really know what your diamond cost you.
 

njseeker

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oh yeah, lorelei''s post reminded me... my insurance company does not insure loose stones.... I had my appraiser... appraise the loose stone then I took it back to him personally with it set and he provided me with an updated appraisal report for the whole thing...
 

Kelli

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May 27, 2008
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I probably wouldn''t even bother. I''d feel like there''s enough of a fan base around here that GoodOldGold would give an honest appraisal. On the other hand, I went through jewelers mutual too, and they wouldn''t insure me until I got the whole ring appraised, not just the stone.
 

RBsearch

Rough_Rock
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Jan 20, 2009
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IF you are going to get it insured, you will probably have to get it re-appraised once it is set in a ring. I think you might as well get it appraised (again) while loose, and then bring it back to the same person to update your appraisal once it is set. When I did this, my appraiser only added an extra $20 to my bill for this updated appraisal (the initial appraisal of the loose stone was $80). I did this because 1) it''s only a little more money and 2) it made me feel a whole lot better.
 

TravelingGal

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Date: 2/25/2009 1:33:20 PM
Author: Kelli
I probably wouldn''t even bother. I''d feel like there''s enough of a fan base around here that GoodOldGold would give an honest appraisal. On the other hand, I went through jewelers mutual too, and they wouldn''t insure me until I got the whole ring appraised, not just the stone.
I respectfully disagree. You have no idea who has posted these good reviews of GOG, Whiteflash, or any other vendor on here. I wouldn''t hesitate to buy from GOG based on those reviews, but I would still absolutely take it to an independent appraise who can verify the stone in your hand is the same one you paid for and matches the cert.
 

mryan

Rough_Rock
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May 14, 2008
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87
i recieved my ering just before v-day from GOG.. we took it to gem world in glenview (ps recommended appraiser) the next monday. She throughly looked at the diamond (and setting) and confirmed it was what it was listed as, including the GIA inscription.. only thing she really mentioned/showed was 1 of the eternity diamonds had some flouresence which wasnt a big deal to us, and that they were likely SI1 and not VS2 side diamonds but said that too could be a matter of opinion.

Paid ~15,000 w/settting (14,600 after wire discound)
GOG appraisal said 22k replacement value
GemWorld Appraised as 18,200

I submitted the Gemworld appraisal for insurance but also included much of what GOG provides (ASET, microscope shots, brilliantscope, gia cert, etc) with the appraisal just for documentation purposes with Jewelers Mutual. While it cost a little more to insure it at the gemworld appraisal value rather then what I paid it seemed the best thing to do incase something happens to the ring.

for the record, I love the ring. the GF loves the ring. anyone who she comes in contact with that see it, LOVES it. She can't stop staring at it for the last 2 weeks.

i'd say get it appraised by an indepentant place just for piece of mind.
 

cdogstu99

Rough_Rock
Joined
Jul 21, 2008
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54
Thanks for all the replies. The diamond really is beautiful...but, there is a small black inclusion on the table (which i knew about) which i''m trying to figure if it really bothers me. The stone really really sparkles, and it honestly looks better than anything that i went to see in the stores. (including several H-I color Tiffany rings). I think you can only see the inclusion if you''re looking for it, but you can see it under the right light if you hold it very close to your eye. It''s almost as if the sparkles and brightness of the stone color out the inclusion. Agghh..these decisions are so tough. I''m thinking maybe i''ll at least bring it to the appraiser to see what he says about the stone.
 

TravelingGal

Super_Ideal_Rock
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Date: 2/25/2009 9:54:22 PM
Author: cdogstu99
Thanks for all the replies. The diamond really is beautiful...but, there is a small black inclusion on the table (which i knew about) which i''m trying to figure if it really bothers me. The stone really really sparkles, and it honestly looks better than anything that i went to see in the stores. (including several H-I color Tiffany rings). I think you can only see the inclusion if you''re looking for it, but you can see it under the right light if you hold it very close to your eye. It''s almost as if the sparkles and brightness of the stone color out the inclusion. Agghh..these decisions are so tough. I''m thinking maybe i''ll at least bring it to the appraiser to see what he says about the stone.
From normal viewing distance, is it eyeclean? If so, I''d keep it.

Mine is a F/SI1. I have to look hard to find it, but if I tilt it just the right way in the right light, I can see the black inclusion under the table. I love that it''s there because 99% I never see it, but it''s nice to know I have something to ID my stone.

If you found a great F/SI2, I''d hold on to it for sure...that would have been a combo I would have loved to have.
 

diamondseeker2006

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55,630
First of all, no, I saw zero reason to have another appraisal on my stone from GOG. It has a GIA cert and tons of info from GOG, and I felt another appraisal would be fairly pointless. I used the sales receipt, not the insurance "appraisal" for the insurance. No reason to pay an inflated insurance premium.

SI2''s are certainly going to have inclusions, but I''ll have to say that that stone looks pretty good in the images. But if you think inclusions might bug you, you might want to move up to SI1. That is a really nice size stone, though! You should be able to tell yourself if the inclusions match the ones on the cert if you have a loupe.
 

cdogstu99

Rough_Rock
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Jul 21, 2008
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Well, so, if i hold it up close to my eyes i can definitely see it, almost like theres a speck of dirt on the table. At arms length, i think i can still see it because its basically smack dab in the middle of the table..but barely because the shine really takes over. Funny thing is, i can''t stop looking.
 

Gypsy

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Aug 8, 2005
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40,198
It's up to you whether or not to get an additional formal appraisal.

With an SI2 you can do a pretty quick loupe check yourself to make sure the cert. plot on the stone matches the stone in hand and be reasonably certain you got the right stone. But even the best vendors make mistakes every once in a while. It's important to make sure that they are accountable if they do however, and if you have a feeling that a mistake was made (or just a fear) then an independent appraisal is a good thing. Appraisals are also very for 'mind clean' purposes.

If I deal with a PS vendor, it's based on being a member here for a long time who has for the most part seen a lot of the positive and (the occasional) not so positive posts about the vendors on here... so for a diamond with recognizable inclusions I'd probably make the same decision as Diamondseeker, and GOG is one of the vendors that I would do this with. But if I received a stone and suspected anything was off after a look through the loop and a cert comparison, or if I needed the extra 'mind clean' I would absolutely get an appraisal.
 

Lorelei

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Date: 2/25/2009 10:33:46 PM
Author: cdogstu99
Well, so, if i hold it up close to my eyes i can definitely see it, almost like theres a speck of dirt on the table. At arms length, i think i can still see it because its basically smack dab in the middle of the table..but barely because the shine really takes over. Funny thing is, i can''t stop looking.
At the inclusion? This is normal as once you know where to look your eye automatically goes there! If the inclusion is bothering you then maybe it might be best to ask Jon to find you something of higher clarity as DS suggests.
 
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