QUESTION about appraisal

[diamondguy75]

I have a certified diamond set in an e-ring. Do I need to include the certification with the ring when I get it appraised, or should I just have the ring appraised on its own and let the appraiser work without knowing what it has been certified as? Are there pros/cons to each approach or is it very important to include the certificate? Why/why not? Thanks for the help, I''m confused.

 

[diamondseeker2006]

What is the purpose of the appraisal? Is it to verify that the stone is as represented on the cert? Or for insurance? Did the ring come with an insurance valuation?

 

[diamondguy75]

It''s for insurance, no there was no insurance valuation.

 

[RockDoc]

How much was the purchase ( ring and diamond(s))?

If it was $ 9000.00 or over you could possibly get Chubb insurance, which does not require a well written formal appraisal document.

If it is under the amount above, then it depends on the requirements and how the insurance company settles their claims, that you choose to insure with. Some insurance company pay THEIR replacement cost but want the coverage to be quoted as the retail price. Others have different requirements.

The process most commonly used is two phased. If you have gem reports and want to accept them for insurance, gemological confirmation of the gradings, you probably don''t need. You just need a valuation report based on what those documents state.

If you need both a valuation and a gemological grading report, then the service/report will be a little more comprehensive, and understandibly cost more than the above.

Rockdoc

 

[diamondseeker2006]

OKay, when I had my diamond set, they offered a free insurance appraisal which was good since the setting was not on the one that came with the diamond. I did provide them with the cert because those were the specs that I wanted insured. The only time I would not show the cert is if I bought an diamond with an EGL, IGI, or other cert that I was worried about being incorrect.

 

[shel]

You don''t have to include the certificate but you and your appraiser might want to, just to give the insurance company more detail so that you''re more likely to get a replacement of "like quality."

My appraiser worked without looking at the certificate but eventually for each "C," he would verify his guess with me. For color, his assessment was off by 2 grades because our diamond was mounted (as is yours) and determining the color is harder that way when the stone is reflecting the color of the metal, in our case platinum. So for color, my appraiser thought that the certificate would be helpful.

The other "C" that was pretty much impossible to determine with any degree of detail or accuracy was cut. We bought our diamond mounted (from Blue Nile) and did not have any outside confirmation of the angles, percentages, etc. that were listed on the GIA certificate (realizing that the proportion numbers are rounded off). And the appraiser couldn''t just unmount the stone and test it in his Sarin machine, so for cut, the best information was on the certificate, which is another reason that it was included in the appraisal.

Oh, and carat cannot be determined either. It can be estimated from the average diameter and depth using a formula, but it''s not the same as using a scale. I guess depth also cannot be measured reliably because the stone is mounted.

All the more reason to include the certificate! Otherwise, there would have been a lot of missing information on the appraisal and that will only work against you with the insurance companies.

Obviously, my experience may not be totally applicable to your situation, but maybe you''ll find this helpful.