My Diamond is Here, Now What?

[Dawson]

So my stone has arrived from whiteflash and it looks great! My question- They send an independant appraiser''s letter of verification with the stone, but now I need to get it set... Do I need to take the loose diamond to an appraiser here first, or can I get it set then appraised as a final item? My concern is that the jewler who has the setting I want is downtown in the LA jewlery district. Very nice man and has been there for years, but what if he accidently (or purposely) switches the diamond as it will be out of my hands for a day a so and isn''t currently insured. Should I worry about this, or am I being nuts?

 

[tada]

Is it laser inscribed with the GIA number? Whiteflash has a lot of new stones that do. Then, any appraiser could always verify it is the same stone. Look on your GIA certificate.

 

[Dawson]

Nope, I don''t think it is. (that would be int he comments section, right?) The report is from March of this year but it doesn''t seem to be laser inscribed. I realize that at some point the stone leaves my hands, and once it''s insured and given away I won''t worry about it, I just want to make sure I follow procedures correctly before hand. I called my insurance company the other day and they said they don''t insure loose diamonds, it has to be set first. I guess this is just the risk you take for a few days?

 

[Ellen]

Have the jeweler setting it put in under a high mag microscope loose and go over it with you. Have him plot the inclusions so you have a "map" of what all is in your stone and where. Then have a look at it once it''s set to determine it''s your stone.

 

[kcoursolle]

This is what I do when I get my ring rhodium plated, polished, or whatever and have to leave it.

I bring a copy of the GIA report and make them make a copy of it for themselves and I ask them to verify that my stone is indeed that stone. Next, I have them write the GIA report details (inscription number, gia report number, carat weight, color, clarity, etc.). When I pick up the stone I ask to view the laser inscription number on the stone under their microscope. This may sound really anal, but it''s a way to insure that you are getting back your stone!

One thing you should be concerned about is whether your stone is going to be insured while it is in the jewelers hand. If he accidently chips it while setting it, will he cover it or do you need to provide your own insurance. This is probably a more likely concern than stone switching.

 

[Dawson]

Great advise, thank you all!

Well, I don't really know how to insure it now, as my insurance company (statefarm) didn't seem to think I could until it was set. Any thoughts? I guess I need to make sure he's insured...

 

[jaz464]

Yes, you can always verify that it is your diamond by the inclusions, unless it is an IF.

I would be much more concerned that the diamond be insured (either by you or the jeweler) while he sets it. Ask him and get it in writing if he will take responsibility for it. No way would I let my diamond be set without being covered by some insurance.