Should I get a diamond appraised before purchase?

[HariSeldon]

Hey all!



I''m having a diamond sent to me from an online vendor for me to look at before I pull the trigger on the sale. Should I get it appraised by an independent appraiser or see if a local B&M shop will take a look at it for me? I dont really want to pay for it to get appraised cause its not like I don''t trust the vendor. Its just something that crossed my mind and I wanted to know how things are usually handled.

Thanks!
Hari

 

[swingirl]

For me it would depend on the vendor and whata type of certifucate it has.

 

[diamondseeker2006]

Date: 7/29/2008 10:00:50 PM
Author: swingirl
For me it would depend on the vendor and whata type of certifucate it has.

Same here. I bought from Good Old Gold and WhiteFlash (AGS and GIA certs) and did not see any need for an extra appraisal.

 

[jcrow]

are you planning on having it appraised at all? for insurance purposes?

 

[HariSeldon]

Date: 7/29/2008 10:00:50 PM
Author: swingirl
For me it would depend on the vendor and whata type of certifucate it has.

It''s AGS0-Ideal certified and comes from a reputable vendor.

Date: 7/29/2008 10:31:02 PM
Author: jcrow



are you planning on having it appraised at all? for insurance purposes?

I''m not sure how insuring a stone works... do you have to get it appraised to get insured? I''d like to get it insured just in case something did go wrong. Do diamonds qualify under renter''s/homeowner''s insurance or would i need to get an amendment to my renter''s/homeowner''s insurance?

 

[oldminer]

You should get an INDEPENDENT appraisal from a qualified appraiser before you buy a costl, fine diamond, but you sure don''t have to. There are things which can go wrong with a purchase, such as the incorrect diamond being delivered to you by accident, or damage on the diamond which was not there at the time the report was made by AGS.

Beyond these things, the accuracy of color and clarity grading remains a subjective issue which an appraiser can help you to be certain you are getting the diamond in a quality that you are paying for. Regardless of the CERT, you should have assurance that everything in the deal, including the price being asked is within reason.

On the scary side of things there are vendors, thankfully not among those on Pricescope, who would not give you the right diamond intentionally or lie about the quality and value. Plenty of B&M stores are honest, but you absolutely cannot tell the honest ones from the cheats by looking at their beautiful stores.

Choosing to get an expert to help you many of life''s major purchases is plain smart and worth some money in the long run.
Before you make the deal, clear up any misunderstanding of how your diamond will be insured with your insurance agent. It is a very good idea to carry insurance on the ring for a couple years until you feel sure that the person wearing it will be careful and not just happen to lose it or wear it roughly and damage it.