Sequence of events to insure and appraise a stone or ring?

[colorluvr]

I have a stone that may be somewhat valuable, (I hope) but it needs to go to AGL for a prestige report to show true value. I don't really want to give any more details about the stone until I know for sure what I have.

I know I should have insurance on this stone before I have it set in a ring in case something happens to the stone during the setting process, but I can't get a proper appraisal without an AGL (or GIA) report and I can't get insurance for the right amount without an appraisal, yet I'm afraid to send the stone to AGL without it being insured...

Am I making sense? I feel like I'm in a loop and am not sure where to start. Thanks for any suggestions...

 

[T L]

Re: Sequence of events to insure and appraise a stone or rin

I have a stone that may be somewhat valuable, (I hope) but it needs to go to AGL for a prestige report to show true value. I don't really want to give any more details about the stone until I know for sure what I have.

I know I should have insurance on this stone before I have it set in a ring in case something happens to the stone during the setting process, but I can't get a proper appraisal without an AGL (or GIA) report and I can't get insurance for the right amount without an appraisal, yet I'm afraid to send the stone to AGL without it being insured...

Am I making sense? I feel like I'm in a loop and am not sure where to start. Thanks for any suggestions...

For any valuable stone, I think an AGL is in order if you want an appraisal. Apprasals however vary depending on how good the appraiser is. Some give highly inflated values, which are very unrealistic, and that would be a waste of money regarding your insurance premiums. Always try to find a good appraiser that specializes in colored stones.

 

[colorluvr]

Re: Sequence of events to insure and appraise a stone or rin

The appraiser is no problem, as I have already discussed it with Richard Sherwood, but if I plan on having the stone set, and I will be getting an appraisal of the ring from him as a finished product (which he suggested I do), how do I go about getting the stone insured BEFORE it goes to AGL if all I have is a paypal receipt for what I paid for the stone... Will an insurance company insure a stone off of a paypal receipt?

 

[beach]

Re: Sequence of events to insure and appraise a stone or rin

Insure the package for what you paid for the stone.

 

[minousbijoux]

Re: Sequence of events to insure and appraise a stone or rin

Insure the package for what you paid for the stone.

I agree completely with this. You're talking about insurance to protect it on its journey to AGL - that will be covered by postal insurance. AGL should cover it for its return via its own insurance. Then, once you have it back and appraised, you insure it for its replacement value. I get insurance because I am most concerned about something happening to the stones and having to replace them, so my insurance is primarily for the stones. My nightmare is having an investment grade stone - in other words, of the highest calibre, and having the insurance company think that any old stone will qualify to replace it. That's why its important to have an appraiser who specializes in colored stones (like Richard Sherwood) conduct the appraisals.