More appraisal questions - When to Appraise?

[fiyaz]

Thanks for your responses in my other thread.

Question: I plan on buying a stone from James Allen. Should I get it appraised by a gemologist for insurance purchases:

1. At the pre-purchase inspection?
or
2. After it has been mounted?

Will the insurance companies accept either appraisal? Or will the insurance companies accept the appraisal from JA directly?

Thanks!

 

[dianne]

I got my loose stone independently appraised because I wanted to make sure it matched the cert and was worth the price being charged. The vendor where I purchased the stone also provided an appraisal which, to my surprise, appraised at a value significantly lower than the independent appraisal but more than what I paid. Independent appraiser said to take it and run with it because she felt I got an amazing deal.

Then I decided to NOT get an independent appraisal once the ring was finished and, instead, used the appraisal for the completed ring from the vendor I purchased from. I figured since the vendor appraisal was the lowest for the loose stone it would also be the lowest for the ring and I could save the additional appraisal fee. Insurance company did not have a problem using the appraisal from the vendor at all.

I hope this helps.