needing appraisal/insurance advice plllleeeease.....

[jaymielinn]

i''ve been scanning the information on this site for hours and just wanted everyone to know how much i appreciate all of your questions and advice.....i''m quite new to the diamond arena myself - just got engaged and was overwhellmed with the amount of information necessary to make an informed diamond purchase...as i''m sure many are......and although the ring on my finger means more to me than any specs ever could, i still have some questions....

you see, my we went looking for engagement rings together and after i found my favorite very simple, but beautiful setting, my finace went to purchase the ring with his father and we were very satisfied with the purchase

until lately things have been seeming a bit shady and we''re now looking for any advice that anyone could give us....

it seems we purchased a non-certified stone that was appraised ("insurance documentation report") by the jeweler we bought the ring from and we''re now questioning the credentials of the "graduate gemologist" and her report and wondering what to do next - or if we even need to do anything...

we didn''t even think at the time to ask if the diamond was certified (guess we just made that assumption

) and after finding out that it wasn''t, haven''t been too convinced that what they say is true actually is....our report doesn''t map any of the inclusions in the diamond (the woman who gave it to us assured us that it must be in one of our copies, but wasn''t), the report gives the diamond a different color rating than is in the original paperwork that he received, and there are some other discrepancies in the information that we originally received and what is in the report....the store''s website states that if for any reason we questioned their "appraisal" they would send the diamond to GIA and refund whatever difference, if any, there might be in the value of what they find....but when we asked, we were told that it would cost $200-300 and wouldn''t even be worth our time.....

now we''re wondering.....what pitfalls might we fall into in our situation??....is their "appraisal" enough to get insurance and will we not get cheated??...also, should we shy away from using the insurance company that they recommend??? (are there "pacts" made between businesses of this sort?)...what worth would there actually be in having the stone re-appraised???....if the insurance company makes an agreement with us based on this (maybe, probably inflated) "appraisal", are we going to get in trouble in the long run or will they then have to use that as a guide for replacement???......

i appreciate any and all help that anyone out there can give us as we''re feeling very naive and hoping not to get taken advantage of......if we haven''t been so far already.....

.893 carat, SI1, G, depth: 61.8%, table size: 55.5%, crown 35.1, pavilion 40.9, pavilion depth: 43.1%..........etc......(or so they say.....)

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[Richard Sherwood]

It sounds like an appraisal by a third-party, non-involved, unbiased independent appraiser will answer most your questions.

Then you'll have an opinion by someone without a vested interest in the stone, telling you what it is in their opinion and how much it's worth.

From this you'll get an idea if you were given fair information and a fair deal, as well as an impartial document for the insurance company. It will either put your fears to rest or arm you with information to re-negotiate with the jeweler.

 

[strmrdr]

What Richard said.
If you tell us what part of the country you live in someone might be able to recomend an independant appraiser nearby.

 

[strmrdr]

duh didnt think to check your profile.
It says your in Albuquerque.
You in luck there is an independant appraiser nearby on the pricescope list.

https://www.pricescope.com/appraisers_NM.aspx

Id call and set up an appointment asap.

 

[jaymielinn]

thanks so much for your input.....i really appreciate your help......
could you tell me one thing, tho...is it necessary to have an accurate appraisal or will we be fine as long as the insurance company agrees to insure it under these circumstances??.....that''s what worries me.....otherwise, we''ve already purchased the ring so what would be the use if the ins.co. doesn''t make a stink of it????

thanks again...

 

[jaymielinn]

by the way, even more thanks for giving me the name of someone close.....y''all are great.....cheers.