Question about Tiffany and Appraisals

[newbie13]

I have looked at Tiffany rings and I am thinking about buying a Lucida .77 VS1 G

5.48 X 5.33 X 3.62

Precision of Cut: Excellent
Sym: Very Good
Polish: Very Good
Depth: 67.9%
Table: 62%
Crown Height: 13.7%
Crown Angle: 33.3 degrees
Pavilion Angle: 41.5 degrees

I was wondering what folks thoughts are on the appraisal value of the cut stone and ring...when I get it independently appraised, will I be losing a lot of value...? Lets say I pay X amount, will I only get 75% of the value paid on the appraisal. I am trying to understand the whole appraisal thing, and I am having trouble finding a good previous discussion on the matter?

 

[jaz464]

Appraisal values are often higher than what you paid. Appraisal value is not the same thing as the amount of $$ you would get if you sold it yourself, which is substantially less than what you bought it for in almost all cases (though Tiffany rings do hold their value better). For insurance purposes, make sure that it is insured for at least the amount of money it would cost you to replace it if it were lost or stolen. That is what your insurance company will give you or use to replace the ring.

 

[Nicrez]

An appraisal (for Ins purposes I believe, right?) gives the REAPLACEMENT VALUE of the item. In other words, what you pay NOW is what you will have to pay if it's lost and the insurance company buys another one. If you lose it and the prices go up in like 5 years and you don't get it reevaluated, then you will get the last price it WAS evaluated for, even if it is more expensive.

If you mean to ask if you lose money on buying this new ring at the store and say you decide to sell it later on, yes you lose about 40-60% of retail value of the ring on the second hand market. My suggestion is don't sell it.

The stone seems fine, and again with TCo diamonds I personally wouldn't be nuts about the sarins, because the difference in look really is minute. All their stones are chosen by a certain standard. They will not make sell a terribly cut stone, no matter what. It's their name on the line. You are buying the label with TCo, so as long as that is stamped on there, the stone will be a well cut GIA Excellent.

Just to clarify: They do not deal with AGS and they do not take AGS specs and cut grades into account. AGS is quite popular on this forum for it's precision on RB and Princess cuts. But out in the field, the GIA certs are much more common for the average buyer. Tiffany's does not sell to cut obsessed, they sell to the average upper middle class person who wants the name, luxury and peace of mind from getting it at a store with a reputation. So, in the end, they cater to their 90% majority of buyers. Even the Japanese who are avid buyers of the high color high clarity and detail oriented almost never dictate parameters for their stones. That's why TCo has a lab.

 

[newbie13]

Date: 6/22/2007 1:58:51 PM
Author: jazmine
Appraisal values are often higher than what you paid. Appraisal value is not the same thing as the amount of $$ you would get if you sold it yourself, which is substantially less than what you bought it for in almost all cases (though Tiffany rings do hold their value better). For insurance purposes, make sure that it is insured for at least the amount of money it would cost you to replace it if it were lost or stolen. That is what your insurance company will give you or use to replace the ring.

Who do you generally go through to insure a ring, do you do this with your homeowners carrier, or would you go to a diamond jeweler insurance type company? I know that location has to do a lot with insurance and all, what is typical in the midwest to insure a ring per year? Any clues?

 

[jaz464]

I use State Farm. Others use Chubb or Jeweler''s Mutual.