Apparently the price of large rough has gone up considerably over the past few years. I bought a 4.10 I SI 2 stone from Whiteflash about three years ago. When I had it appraised at the time, I was pleased to find that I had gotten a great deal because the replacement value was quite a bit more than we paid and I used that amount for insurance purposes.
When I checked the scarcity of larger stones and the higher prices on Pricescope, I took the stone, now mounted in a ring, back to David Wolf for re-appraisal. Although my stone is not top color or clarity, it is well cut. I never thought of it as an investment--just a beautiful stone. I was shocked to learn that over the past three years, the replacement value of my stone has gone up many thousand dollars. I was told that what I paid was now below the wholesale cost and I could probably sell it to a jeweler for what I paid because there was a great demand and short supply of large rough stones.
I would strongly advise anyone with a large stone who has not had a recent appraisal to get the ring re-appraised for insurance purposes. I know many people insure their rings for what they paid rather than pay for excess insurance but my ring was drastically underinsured and I would have had a great deal of trouble trying to replace it if I lost it.
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When I checked the scarcity of larger stones and the higher prices on Pricescope, I took the stone, now mounted in a ring, back to David Wolf for re-appraisal. Although my stone is not top color or clarity, it is well cut. I never thought of it as an investment--just a beautiful stone. I was shocked to learn that over the past three years, the replacement value of my stone has gone up many thousand dollars. I was told that what I paid was now below the wholesale cost and I could probably sell it to a jeweler for what I paid because there was a great demand and short supply of large rough stones.
I would strongly advise anyone with a large stone who has not had a recent appraisal to get the ring re-appraised for insurance purposes. I know many people insure their rings for what they paid rather than pay for excess insurance but my ring was drastically underinsured and I would have had a great deal of trouble trying to replace it if I lost it.
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