Ring appraisel

[dnadrifter]

I recently purchased a diamond and had it appraised by an appraiser recommeded on this site. This person charged quite a bit, partly because we were comparing 2 stones, but partly because the rates were high.

I am having a ring custom made and need to get it appraised after the diamond is set. I am going to have to pay approximately an extra $200 on top of what I already paid to get the ring appraised. The jeweler who is making the ring, and who I trust said that he could use the appraisel of the diamond and would appraise the ring for me as part of their service. He also is more than fine with me going back to the same appraiser but was concerned with the amount of money I was spending.

What are the cons of me letting him do it and saving $200? I am less concerned with a detailed evaluation of the ring, since I am going to keep it since it was made for me, and more concerned with having the appropriate paperwork for insurance companies so it can be replaced if need be.

Please help me if you can...I can recite crown angles and pavillion angles, etc., but I am really in the dark regarding this appraisel stuff.

Thanks,

 

[Iceman]

First the liability is so high anymore doing appraising, the equipment and time it all filters in to the price.

Don’t think since an appraisal is high that is what the piece of jewelry is worth. The insurance company will go to the internet to replace at what you paid for it. So, if you want to overpay for insurance on a feel good price the go for it.

Here is the scary part is that the insurance companies will accept an appraisal from anybody.

 

[hoorray]

There are various reasons to get an appraisal. One is to get independent verification that what you are buying is what you think it is and that you are paying a fair price. Another is for insurance doc. If you are confident that your stone is secure and what you purchased, having the jeweler create something for insurance is completely reasonable.

One thing to keep in mind....insurance companies charge per $100 insured. Most policies (but not all) retain the right to replace or refund -- at their choice. Iceman is right. They are not going to pay high retail to replace you stones. They are going to get a better price than you do. Thus, paying extra to insure it for an inflated amount is a waste. Insure it for slightly more than you paid, and make sure they list the details of the cut quality so that if they go to replace it with a "like" stone, it will be equally well cut.

 

[baltneu]

Perhaps you could negotiate a better price with the original appraisor because he has already seen the stone before. One of the benefits of having the appraisor due it for you after the ring is set is to verify the integrity of the setting job, ie: making sure the jeweler did not bend prongs or did not chip the diamond upon setting. If you have the jeweler do the final appraisal, you will not have the latter done. Jobs do get bothched up, this can be verified by others posts on this site. Good Luck

 

[Richard Sherwood]

Sounds a bit pricey to me.

How much of that $200 is return shipping charge and how much is for the appraisal?

Is it a diamond semi-mounting? What's the total carat weight, and how many different kinds of stones does it have (ie, rounds vs baguettes, etc.)?

 

[dnadrifter]

Thanks for all the replies so far, it is much appreciated.

To answer some questions:

1) I know this is ignorant, but I am not exactly sure what a semi-mount is strictly defined as.

This will be a 4 - prong mount built into the ring, not just a head put on top of one. Does that help.

0.8 carat center, 2 - 0.25 carat side stones, platinum. Thats it.

2) I don't think the person will come down in price. I questioned the amount a little when I left from getting the diamond appraised and there was no hint of doing it for less money. I was told it would take about 1 hour for the ring (~15 min. for each side stone) and then some more time for paperwork/photographing afterward.

3) I already paid separately for shipping one diamond back so that is not included in the $200. I would definitely agree this is pricey, but the stone has already been appraised.

I would add that I paid for some convenience in that both online vendors felt secure sending their diamonds to this person for me to look at.



Sounds like if I am comfortable with my jeweler who is making the ring and setting the stone, I could have him appraise it. The only questions would be if he possibly chipped the stone or it wasn't set securely.

But this would also be an issue every time I bring it back to him to check the setting and clean the ring. I feel pretty comfortable with the competency of the jewler.

If the stone was chipped, could I as rookie tell with a loupe....what about a 20x microscope I have access to. Where do they chip, and is it hard to tell?

Thanks again for the responses. Anything else I should be wary of if I have the jeweler appraise it?

 

[Richard Sherwood]

I'd feel better if you had a non-involved professional examine the diamond and semi-mounting (ring mounting with 2 smaller diamonds) after the jeweler has set it.

I'm sure he's a great guy, but I've seen more than once where a "great guy" failed to mention that he chipped a diamond upon setting. You also want a professional to give you an idea if the setting job is satisfactory and won't give you problems in the future.

Perhaps you could have the jeweler appraise the ring for insurance purposes, and then ask the original appraiser if he would check the diamond and setting job on a quick verbal basis at a minimal charge, or possibly even at no charge. If he won't do it, there's probably dozens of professional jewelers who will, probably most at no charge.