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Princess vs. Round

Discussion in 'RockyTalky' started by punch, Oct 7, 2003.

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  1. punch
    Rough_Rock

    Messages:
    9
    Joined:
    Oct 3, 2003
    by punch » Oct 7, 2003
    From speaking w/ my coworkers, I''ve learned that the appraised value of their diamond was more than what they pay for it. The range is 30-100%.

    1) Is there a typical range?
    2) Do certain cuts, princess vs. round, that appraise at a higher percentage than the sale price?

    Thanks!
     
  2. valeria101
    Super_Ideal_Rock

    Messages:
    14,373
    Joined:
    Aug 29, 2003
    by valeria101 » Oct 7, 2003
    Appraisal value has something to do with what % the insurance company pais in case of... and the initial price and GRADE of the stone,not shape. What something appraises for, depends alot on the purpose of appraisal: this should be something close to Price/(Replacement share of price pid by insurer in case of loss). Er... and they know it!

    One thing is key: get a very detailed description (see GOG, goodoldgold.com for what this is) of the stone cited on the insurence papers. Why is this good: if the insurance comany offers the alternative to replace the stone rather than giverefund (common thing) they should be constraind by hard numbers and evidence to get something just as good. What this means? If you just say 1.1ct pricess, I, SI on the insurance contract, you could get a badly cut, ugly one, SI2 instead of SI1, with the inclusion highly visible instead of 'eye clean' as your stone might have been...The shape? Does not matter as long as you have a decent description of the cut and cut quality for insurance purposes.
    [​IMG]
     
  3. mike04456
    Brilliant_Rock

    Messages:
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    Joined:
    Nov 20, 2002
    by mike04456 » Oct 7, 2003
    All diamonds seem to appraise at well above their purchase price. Personally, I cannot recall hearing of one that did not. Inflated appraisals are one of the dirty little secrets of this industry.




    As to "typical" results, it has far more to do with where you buy than what you buy. The people you know with 100%+ appraisal values probably bought their diamonds at the mall and got them with concurrent appraisal cards attesting to some ridiculous value that has no relation to the stone's true market value. Were they ever to try selling those diamonds, they would be in for a very rude shock.




    Strictly speaking, your diamond is worth what you paid for it. You want the appraisal to be enough to insure the stone for an amount that allows you to replace it with an honestly equivalent diamond should you ever need to. That's really it.
     
  4. punch
    Rough_Rock

    Messages:
    9
    Joined:
    Oct 3, 2003
    by punch » Oct 8, 2003
    Thanks for the information folks. One more thing, why are round diamonds typically more expensive than the fancy cuts, given the same specifications?
     
  5. mike04456
    Brilliant_Rock

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    Nov 20, 2002
    by mike04456 » Oct 8, 2003
    Because, generally, they make the least efficient use of rough, which means that, on average, you will get a smaller round than if you cut, say, a princess. To get the same profit, the manufacturer has to charge more.
     
  6. JC
    Shiny_Rock

    Messages:
    366
    Joined:
    Sep 11, 2003
    by JC » Oct 8, 2003
    I bought my fiancee's engagement ring for a little over $3,700. Here is a description of what I purchased. This was back in March.

    Three stone princess cut platinum setting.
    Center stone - .71ct
    Sidestones - .27ct each
    Total carat weight - 1.25

    Center stone
    Measurements-5.06x4.86x3.49mm
    .71ct
    GIA graded
    Depth-71.8%
    Table-69%
    Girdle-Medium to Slightly Thick
    Culet-NONE
    Polish-Excellent
    Symmetry-Very GOOD
    Clarity-VVS2
    Color-D
    Fluorescence-NONE
    Comments-NONE
    Key To Symbols-ClOUD

    Sidestones were .54cttw non-certified D-E, VVS1-VVS2.

    I paid a little over $3,700 total for all three stones as well as the platinum ring design. I don't know much about how diamonds should be appraised or even what the appropriate value would be according to the selling price. However, my engagement ring appraised for $7,750. So I wasn't complaining. I tried to copy and paste a picture of the ring design so that you all could see the finalized outcome. However, I was unsuccessful in my attempt. So unfortunately you all won't be able to see a picture of the ring. I wish that I could have showed you all, because it's beautiful.

    [​IMG]
     
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