Tacori Setting and appraisals: Ordering today Please Help

[lurkingoutofthecloset]

All,

Can someone please tell me their experince getting their Tacori settings appraised? I took a tacori band to an appriaser who appraised it for 1700. The appriaser said he was not familiar with Tacori, but that was the value of the band itself. The band would have cost 4000 from Tacori. It was platnimum eternity style with a channel of sapphires in the middle and 2 channels of diamnds on the side. I was ok with the appraisal since that was what I paid for it at an inetrnet discounter. However, I have two problems now:

1. If I lose the wedding band, will the insurance only give me 1700. So I will not be able to buy a new one since it costs 4000?

2. I am about to buy a setting directly from Tacori todat at 2900. It weighs less in platinum and has less dimonds then the band so it would logically appriase under 1700. However, I have now paid 2900 for it. How do insurance companies handle this? Do they replace the setting or just give you what the appriasers say it is worth?

Thanks in advance for any help you can give me.

 

[dps777]

I actually had the opposite experience last week in which my Tacori setting was apraised at a higher value than I paid for it. I guess it depends. I purchased the Chubb insurance product in which I would receive a cash payout in the sum of my total appraised value.

 

[denverappraiser]

Talk with your appraiser. They have done you a disservice. The purpose of pre-loss insurance appraisals is to provide documentation and funding for your insurance company to replace the item with another of like kind and quality in the case of a loss. Replacing a Tacori with a non-Tacori knockoff is not ‘like kind and quality’ any more than replacing a Ferrari with a Hyundai is of like kind even though they have the same number of wheels, weigh approximately the same and even though Hyundai makes fine products. The appraisal should accurately reflect what it will cost to accurately replace your piece in the case of a loss.

In the case of branded items like Tacori this is actually pretty easy. Ask ‘em. If Tacori is charging $2900 for it, and it could be reasonably expected that they will charge $2900 for a replacement if the need arises, that’s what the appraisal should say and this is what it should be insured for.

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