Scared of setting

[jimmym]

Hi all! Just purchased diamond (2carat princess) to go in the setting my girlfriend chose after much shopping around. I went to have priced for setting and the ring needs to be adjusted a bit to accommodate the stone, but not resized for her finger. To the tune of $200-$250 adjustment (two estimates). It is 18K white gold, which the setter told me "shouldn''t be used for rings only for pendants and such" because it is not strong enough. Its an import and apparently 18K is more popular overseas? My setting has 49 micro diamons in it and he is really scaring me as to whether it will hold up. It was relatively cheaper than the others we saw and maybe now I know why. But, its the one she liked.

So, I''m reseaching companies to insure (calling chub and JM today) but they both said they cover repairs but not manufacture defects. I''m scared one of these diamonds may fall out and God forbid the "weak 18K" prongs break and I will not be covered. This is a big investment and means the world to me so I need to be sure I do the right thing. Any experience with diamonds that fall out or the durability of 18K?

Thanks!

 

[denverappraiser]

Get a written professional opinion about the ‘weak’ prongs. You’re putting a lot of confidence in what this person is telling you. What the insurance company is going to rely on is the appraisal.

In insurance lingo, manufacturer’s defects are called 'inherent vice', and every insurance company with a lick of sense has an exclusion for this. This means the item was already damaged or defective before they insured it and it’s entirely reasonable that they shouldn’t be held responsible for that. This is another reason for independent appraisals. It provides a start date and an independent professional inspection immediately prior to the beginning of the contract. If they want to argue that the appraiser missed something important or that they were just stupid they are welcome to take it up with the appraiser, perhaps even to include suing the appraiser for negligence, but you, the consumer, are mostly out of the loop. Note: If they can demonstrate that you were in collusion with the appraiser or that you knowingly submitted false information then you’re back in and these would be valid grounds to deny a claim. This is part of the reason that they are having you provide the appraisal rather than hiring their own experts or even providing a referral network of competent appraisers.

Both JM and Chubb as well as most other companies will cover loss of a stone from the mounting under their standard policies as long as the policy is otherwise valid. As with all insurance details, read the contract and check with your agent with questions. Making sure you understand the deal is a large part of what they're getting paid to do.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Jewelry Appraisals in Denver

 

[jimmym]

Thanks Neil. I''m having the stone and setting appraised Monday before it is set. The setter didn''t see a weak prong per say, just indicated 18K white gold is weak and the chances of a diamond coming loose are high. Also, since the basket in which the stone sits needs to be resized a bit larger it may be difficult and costly. I''ll let the appraiser make the judgement of any manufacture defects, and if there are none I''ll have it set and I suppose I''ll be covered if something comes loose (knock on wood).

 

[denverappraiser]

For this particular purpose, the time to get it appraised is AFTER the stone is set and all work is completed, not before. If the setter genuinely believes that the risk of loss is high, they should decline the job. Like the appraiser, they have a certain amount of potential liability here and a verbal warning to you about 18k isn't enough to absolve them of it.

Obviously I can't comment on your particular ring because I've never seen it but properly done, 18k white is an entirely reasonably material for jewelry, including rings.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Jewelry Appraisals in Denver