Questions about Appraisel and Insurance from WF!

[xiaoxinmarryxiaobai]

Hi,guys,after decision on the stone and the setting,here comes the appraisel and insurance.Thanks in advance for any info!I would Especially appreciate any suggestions from peopel who bought rings from WF!

So the customer service told me after the ring is done,they will send it to an independent appraiser to write a certificate letter,which is not a formal appraisel but come still serve the purpose of insurance. My questions are:

1) Is the appraised price gonna be a lot higher than price of stone+price of setting?My case is a $10k stone with probably a $1k setting.

2) Did you or will you do a separate formal appraisel once you get the ring?If the prices are different,which one would you use to purchase insurance?

3) How''s the insurance company "touchstone" from WF website?Anyone insured their ring there. Or you have your own insurance company to use.

Thanks a lot for any advice!

 

[xiaoxinmarryxiaobai]

anyone?any information?

 

[JohnQuixote]

 

[Skippy123]

Hello,
I just used the appraisel from WF. You can send it to an appraiser like Neil Beatty, Richard Sherwood or Dave Atlas; right now Neil is appraising something for me. I used State Farm w/a seperate rider for my wedding ring and I found it to be cheaper that way. Call around like John says. Best wishes and enjoy your new purchase!

 

[Maisie]

Date: 11/12/2007 2:27:11 PM
Author:xiaoxinmarryxiaobai
Hi,guys,after decision on the stone and the setting,here comes the appraisel and insurance.Thanks in advance for any info!I would Especially appreciate any suggestions from peopel who bought rings from WF!

So the customer service told me after the ring is done,they will send it to an independent appraiser to write a certificate letter,which is not a formal appraisel but come still serve the purpose of insurance. My questions are:

1) Is the appraised price gonna be a lot higher than price of stone+price of setting?My case is a $10k stone with probably a $1k setting.

2) Did you or will you do a separate formal appraisel once you get the ring?If the prices are different,which one would you use to purchase insurance?

3) How's the insurance company 'touchstone' from WF website?Anyone insured their ring there. Or you have your own insurance company to use.

Thanks a lot for any advice!

I bought my diamond and setting from Whiteflash. The appraisal amount was higher than the purchase price.

 

[xiaoxinmarryxiaobai]

Thanks John for the reponse!I was hoping you can step out and provide some information.And thanks for the user reply!I will call around once I get the ring.And I won''t forget to post pics.

 

[Kissmark]

I got my diamond necklace from WF, and the appraisal was also higher than the purchase price. I used the insurance from WF, and I insured the necklace for the purchase price, not appraisal price. The reason is because if anything happens to it, I will most likely get the replacement from WF anyway, at their price. So I thought there''s no point in paying the extra premium for the appraisal price. Hope this makes sense.

 

[diamondseeker2006]

I used the SALES price from my WF diamond earrings for the insurance amount as I did not want to insure them for the inflated amount.

And no, I do not think you need another outside appraisal on a certified stone from WF (unless you are buying a $50,000 stone or something!).

 

[Richard Sherwood]

I guess it's because I'm an independent appraiser, but I don't think it's a bad idea to have the quality and price verified by an outside source, as well as check if any damage occurred during the setting process, and if the mounting is well manufactured, well set, and in excellent condition.

It just seems that if you leave the whole process "in house" or "in neighborhood", there are no checks and balances.

And what better time to have it done than upon purchase? Your going to have it appraised sooner or later by an independent appraiser, and if five years down the road an independent appraiser finds a problem, you have no recourse. If problems are found within the "return window", you have 100% recourse.

Seems to me that option, along with independent verification, is certainly worth the money and peace of mind.

 

[aljdewey]

I absolutely wanted an independent appraisal on my engagement ring; it was too big a purchase not to invest in that outside evaluation.

 

[jpk1102]

My son recently bought an Expert Selection diamond (.77 carat VS2 Color J, Ex Polish, EX Symmetry from Whiteflash). We had it set in a WF 14Kt. White Gold setting. They included a certificate, the diamond ring was valued at $1,100 more than we paid for it ($2,300 our Pricescope WF price).

We since had it appraised and the appraisal was $1,200 more than we paid for it. If you are doing the numbers, you can see our ring actually appraised for value at $3,500, and we only paid $2,300. In our case the valuation on the independent certificate WF provided with our purchase was right on at $3400.

I''ve worked in the insurance industry (in my before "Mom" life), and actually had my marquise diamond crack and fall out of my wedding ring years ago, I encouraged my son to get a separate "All Risk" Jewelry Floater Policy. In my case, my insurance company paid for a new marquise diamond of better quality than I had in the ring! The All Risk policy was well worth the money then and now. In our case it was minimal - check around to find the best prices. Start with the company who insured your home or household goods.

And buy the way, we were very, very pleased with our Whiteflash diamond ring, and the entire buying experience. Whiteflash all the way..........!!!!!