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Replacement Diamond

canne519

Rough_Rock
Joined
Mar 15, 2023
Messages
8
Hi everyone. My original engagement ring was lost and I’m pretty devastated. Luckily we have insurance and they accepted my claim so I can get a new one. My original ring was purchased from James Allen and I am looking for recommendations on a diamond as close to these original specs as I can get! Would love to know what y’all think.
 

Kim N

Ideal_Rock
Premium
Joined
Oct 6, 2005
Messages
6,388
How about one of these super ideal cut diamonds with guaranteed superior light performance and a generous upgrade policy?



 

canne519

Rough_Rock
Joined
Mar 15, 2023
Messages
8
How about one of these super ideal cut diamonds with guaranteed superior light performance and a generous upgrade policy?




Thanks! Unfortunately I have to use James Allen for a replacement.
 

DejaWiz

Ideal_Rock
Joined
Apr 23, 2021
Messages
5,954
Hi and welcome to PriceScope, canne519!
Budget range for a Princess Cut from JA?
 

canne519

Rough_Rock
Joined
Mar 15, 2023
Messages
8
Hi and welcome to PriceScope, canne519!
Budget range for a Princess Cut from JA?

Because insurance is paying, price is not really a factor. I am guaranteed a diamond the same/as close in quality as my original diamond. I do not believe I have the option to “upgrade” significantly from what I originally had.
 

MissGotRocks

Super_Ideal_Rock
Premium
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Jun 23, 2005
Messages
16,269
Because insurance is paying, price is not really a factor. I am guaranteed a diamond the same/as close in quality as my original diamond. I do not believe I have the option to “upgrade” significantly from what I originally had.

Sometimes insurance will issue you a check for replacement and you can add to it to purchase a better diamond. Are they telling you to find a diamond and they will pay for it? Have you asked them about the particulars for payout? Generally if they are just replacing like kind they will source a couple of diamonds for you to choose from. Hopefully, if this is the case you will have the right of refusal and be issued a check for the value of the lost diamond.
 

DejaWiz

Ideal_Rock
Joined
Apr 23, 2021
Messages
5,954
Sometimes insurance will issue you a check for replacement and you can add to it to purchase a better diamond. Are they telling you to find a diamond and they will pay for it? Have you asked them about the particulars for payout? Generally if they are just replacing like kind they will source a couple of diamonds for you to choose from. Hopefully, if this is the case you will have the right of refusal and be issued a check for the value of the lost diamond.

My thoughts are aligning with this.

canne519 if you don't like anything you see at JA or anything else that your insurance company may offer, then you could very well have a check/cash-out option and procure your own replacement:


 

canne519

Rough_Rock
Joined
Mar 15, 2023
Messages
8
Sometimes insurance will issue you a check for replacement and you can add to it to purchase a better diamond. Are they telling you to find a diamond and they will pay for it? Have you asked them about the particulars for payout? Generally if they are just replacing like kind they will source a couple of diamonds for you to choose from. Hopefully, if this is the case you will have the right of refusal and be issued a check for the value of the lost diamond.

They do not offer a check - it is a replacement only policy. I need to work with my jeweler, in this case JA, to identify the replacement, and they pay the jeweler directly.
 

DejaWiz

Ideal_Rock
Joined
Apr 23, 2021
Messages
5,954
They do not offer a check - it is a replacement only policy. I need to work with my jeweler, in this case JA, to identify the replacement, and they pay the jeweler directly.

How would that work for their other clients whose jewelers are no longer in business?

I say sent a few Whiteflash ACA options from my link above to your adjuster and see what comes of it.
 

momofive

Brilliant_Rock
Joined
Mar 13, 2011
Messages
1,040
Hi. I’m not saying that you’re wrong about this, but my husband is an insurance agent and usually they issue you a check. This affords you the option of adding to it if you want to get a larger/better quality stone and also choosing your vendor. . Maybe your company is more restrictive, but I would try to push them on it. Unless you want to stick with the exact size, etc. and use JA. I only say this because many women, myself included, get diamond shrinkage syndrome at some point.
 

canne519

Rough_Rock
Joined
Mar 15, 2023
Messages
8
How would that work for their other clients whose jewelers are no longer in business?

I say sent a few Whiteflash ACA options from my link above to your adjuster and see what comes of it.

If your jeweler is out of business you can name another jeweler. I’m interested in getting the
Hi. I’m not saying that you’re wrong about this, but my husband is an insurance agent and usually they issue you a check. This affords you the option of adding to it if you want to get a larger/better quality stone and also choosing your vendor. . Maybe your company is more restrictive, but I would try to push them on it. Unless you want to stick with the exact size, etc. and use JA. I only say this because many women, myself included, get diamond shrinkage syndrome at some point.

this was insured through JM not our homeowners or other insurance policy. I will ask, but I read the policy documents pretty throughly and it was pretty clear that they do not offer checks.
 

sledge

Ideal_Rock
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Apr 23, 2018
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5,791
Many of us have JM. I agree it's a repair/replacement policy instead of a hard cash out policy. That said, I also believe your interpretation is a little off base and you have other options, if you want to exercise them.

Do you recall the value of the policy? Initially this is established by the price you originally paid, but depending on the amount of time that has lapsed, you can periodically have your stone/ring reappraised and adjusted upwards for market conditions.

To me, it seems you have some options to consider. If you are interested in using WF, I would contact JM and discuss it with them. They can't force you to use the original jeweler. Their own policy says this. It's a jeweler of your choice.

Directly from JM's website:

What is a repair/replacement policy - can I get cash instead?
Your policy with Jewelers Mutual Group is a "repair or replacement policy." It's different from a cash payment policy like you may have seen with other types of insurance. With a repair or replacement policy, we step in for you and work with your jeweler of choice. You don’t have to worry about explaining every detail of your original piece so the jeweler can match it. Claim professionals work with your jeweler to make sure that you're happy with your repaired or replaced piece. The result is jewelry that's the same kind and quality as your original piece.

Traditional insurance policies usually reimburse you to fix or replace your jewelry. When this happens, you’re left to deal with the emotional toll of the loss and the stress of finding an equal replacement.

What if my tastes have changed or I want to upgrade?
We’ll pay your jeweler the cost to replace the same item you originally had. You can choose to use those funds towards an upgraded piece or choose something completely different. If the cost of the piece you choose is higher than the original piece, then you pay the difference.
 

canne519

Rough_Rock
Joined
Mar 15, 2023
Messages
8
Many of us have JM. I agree it's a repair/replacement policy instead of a hard cash out policy. That said, I also believe your interpretation is a little off base and you have other options, if you want to exercise them.

Do you recall the value of the policy? Initially this is established by the price you originally paid, but depending on the amount of time that has lapsed, you can periodically have your stone/ring reappraised and adjusted upwards for market conditions.

To me, it seems you have some options to consider. If you are interested in using WF, I would contact JM and discuss it with them. They can't force you to use the original jeweler. Their own policy says this. It's a jeweler of your choice.

Directly from JM's website:

Thanks. I’ll talk with JM today. I’ve looked through the settings available on WF and I prefer my original setting from JA, they don’t really have one that is comparable imo. I’m also not interested in upgrading. I was and still am happy with the size of my diamond.

Do you have any recommendations for diamonds on JAs site or do you know if I can purchase a WF diamond and have it set by JA?
 

DejaWiz

Ideal_Rock
Joined
Apr 23, 2021
Messages
5,954
Thanks. I’ll talk with JM today. I’ve looked through the settings available on WF and I prefer my original setting from JA, they don’t really have one that is comparable imo. I’m also not interested in upgrading. I was and still am happy with the size of my diamond.

Do you have any recommendations for diamonds on JAs site or do you know if I can purchase a WF diamond and have it set by JA?

I'm not seeing much at JA at the 0.9 carat area...maybe a few possibilities at the 0.8 realm.

Which setting are you looking at?

 

MissGotRocks

Super_Ideal_Rock
Premium
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Jun 23, 2005
Messages
16,269
They do not offer a check - it is a replacement only policy. I need to work with my jeweler, in this case JA, to identify the replacement, and they pay the jeweler directly.

There is no way this can be restricted to one jeweler only. Like kind diamond but not necessarily from the same jeweler.
 

canne519

Rough_Rock
Joined
Mar 15, 2023
Messages
8
I'm not seeing much at JA at the 0.9 carat area...maybe a few possibilities at the 0.8 realm.

Which setting are you looking at?


I’m looking at the petite pave in platinum.

This is the stone I’m currently looking at as well. https://www.jamesallen.com/loose-diamonds/princess-cut/1.01-carat-h-color-vvs1-clarity-sku-16491915
 

DejaWiz

Ideal_Rock
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Apr 23, 2021
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tyty333

Super_Ideal_Rock
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Dec 17, 2008
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MissGotRocks

Super_Ideal_Rock
Premium
Joined
Jun 23, 2005
Messages
16,269
Yes it is an upgrade in size and color. Hopefully it won’t be an issue or you can pay the difference.
 

canne519

Rough_Rock
Joined
Mar 15, 2023
Messages
8
This looks like a very nice stone. However, it is an upgrade IMO. Not sure what JM will say about that. Hopefully, they'll let it slide.

Yeah, the problem is JA doesn't have really anything close-ish to what I had. We'll see what they say. My ring was appraised and insured for higher than the price of the new set so hopefully it won't be an issue.
 

sledge

Ideal_Rock
Premium
Joined
Apr 23, 2018
Messages
5,791
Yeah, the problem is JA doesn't have really anything close-ish to what I had. We'll see what they say. My ring was appraised and insured for higher than the price of the new set so hopefully it won't be an issue.

Add me to the list that likes your alternate stone. While it may seem close to your original specs there will be a price difference as color is slightly improved and while 10 points doesn’t make the world go round in actual size difference it does hit the “magic” 1 carat mark where prices will increase more dramatically because it officially hit the 1 carat mark.

Look at your price per carat instead of total dollars. Let’s pretend for a second. Say there was a 0.90 I VVS1 @ $3,500. And your new stone is $5,500 for 1.00 H VVS1. I’m not sure the actual price as it says “unavailable” to me. Price per carat would be as follows:

$3,500 / 0.90 = $3,889 per carat
$5,500 / 1.00 = $5,500 per carat

We see there is roughly an $1,100 difference per carat. Some of that is due to color and possibly even market conditions/pricing now vs your last appraisal. Let’s pretend another stone exists that is 0.89 H VVS1 for $4,600.

$4,600 / 0.89 = $5,167 per carat

With color, clarity and carats a near identical match you can now see how price per carat increased by hitting the 1 carat mark, roughly $340 per carat.

Obviously your actuals may vary from this example and there is some truth that as you get closer to magic weights some of that premium is absorbed. For instance a 0.98 stone would likely show less premium than a 0.90 stone when compared against a 1.00 carat stone.

JM is savvy to the market and will be looking at these types of things.

Also it’s my understanding the insured policy amount is a maximum liability amount and not a guaranteed minimum. So while you may have insured for $10,000 if the market says you can replace with “like size and quality” for $5,000 then you may have to pay out of pocket for those “upgrades” of I to H color and 0.90 to 1.00 carats. As a buyer I’d also prefer the AGS ideal 000 stone you found over GIA 3X as it’s better at defining cut quality. However, I am not sure how JM views/values that difference.

I’m all for putting the ask on JM to accept your find as an equal replacement but won’t be surprised if you have to pay a few bucks out of pocket.
 

DejaWiz

Ideal_Rock
Joined
Apr 23, 2021
Messages
5,954
Great post, sledge - I think it was/is priced at about $4200 prior to being placed on hold.
 

sledge

Ideal_Rock
Premium
Joined
Apr 23, 2018
Messages
5,791
Thanks. I’ll talk with JM today. I’ve looked through the settings available on WF and I prefer my original setting from JA, they don’t really have one that is comparable imo. I’m also not interested in upgrading. I was and still am happy with the size of my diamond.

Do you have any recommendations for diamonds on JAs site or do you know if I can purchase a WF diamond and have it set by JA?

Something to keep in mind, WF has access to way more settings than shown on their website. I’m not sure if the JA setting is exclusive to them but if it’s a Stueller or another designer than there is a high probability that WF can also source that setting. For instance I’ve seen where someone wanted a Vatche XYZ setting and while the XYZ setting wasn’t listed on WF’s site, they are a Vatche dealer so they can still get the XYZ setting.

Another option would be for WF to custom make a setting that would be similar to the JA setting although that may be more headache than you want.

In my case I bought my wife’s center stone from BGD in Houston. And I had a custom setting made by David Klass in Los Angeles who set the BGD stone and also sourced/set her melee stones. My quote for a custom was reasonable and included all the setting fees.

However, many times if you buy a setting and stone separately there is a separate fee associated with setting what is referred to as an “outside stone”. Additionally my preference would be to purchase the setting from JA and have it shipped to WF who can set the stone; however, I am not certain JA will sell only their settings.
 
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