Protocol for buying out of state & shipping?

[Samara83]

I am having a ring made by Leon Mege - he is finding me a loose diamond and then setting it. I'll need to have the ring shipped to me (I don't live in New York). I'm told that this is commonly done and that insurance can be arranged? My main question is, what do I do when I receive the ring - do I have it appraised right away? Is there anything I should do to ensure I received exactly what I paid for? I am basically buying the ring sight unseen, although photos have been exchanged and I have the GIA certificate etc.

 

[TC1987]

Leon's shipping depart handles the insurance. All you do is sign for the ring when you get it. You can have the ring appraised, or not. I never had my purchases appraised, because I live in a little small town and I'd either have to ship the ring to an appraiser or drive hours to a large city to find a one who can to a Pricescope-level of workup on it. You could just take whatever appraisal Leon sends with it and insure the ring either for the purchase price or for the "retail value" if you want some fat in there to cover possible appreciation for a couple of years. If you really want assurance that you got exactly what you paid for, them have the ring appraised. Since it's a Leon, I recommend immediately insuring it for whatever Leon says and them worry about getting an appraisal 2nd.

As I recall, if you have to ship a ring, you can't get enough insurance from UPS or FedEx as a consumer. You'll have to use US registered mail, which can take incredibly long. Or else have the jeweler or appraiser who can get commercial insurance from FedEX or UPS, sell you a shipping label for it. There are threads about how a private individual goes about shipping diamonds.

 

[Samara83]

Thank you! Very helpful