Thoughts on appraisal both before and after setting diamond?

[tenniz23]

I am ordering a diamond online and having a setting made by a local jeweler. I just wanted to get some opinions on whether it is necessary or advisable to have the diamond appraised by itself before it is set and then have the finished ring appraised again to make sure the stone has not been swapped or damaged? Is that overkill or is that something that is commonly done and/or should be done? Any advice is appreciated. Thanks!

 

[chrono]

Re: Thoughts on appraisal both before and after setting diam

The before is to make sure the stone matches the description and lab report and confirm it is a nice looking stone. The after is for a proper valuation for insurance purposes.

 

[denverappraiser]

Re: Thoughts on appraisal both before and after setting diam

I am ordering a diamond online and having a setting made by a local jeweler. I just wanted to get some opinions on whether it is necessary or advisable to have the diamond appraised by itself before it is set and then have the finished ring appraised again to make sure the stone has not been swapped or damaged? Is that overkill or is that something that is commonly done and/or should be done? Any advice is appreciated. Thanks!

The before appraisal is part of the shopping process. It's to confirm or refute things that the seller has told you and possibly to collect additional information that the seller didn't say. This can include things like the information on the lab docs but also claims like H&A patterning and establishing and documenting a benchmark of condition immediately prior to setting, which will be important if an issue comes up later. 'Value' questions normally come up in these assignments as well as comparative questions about how one stone compares to others with similar or identical descriptions. Setting the stone normally ends your ability to return it to the vendor, especially if it's going to be set by someone else so if you're looking for professional shopping advice from the appraiser, get it done first.

The after appraisal is for quality control purposes on both the mounting and the stone although this also includes the above issues with regard to the mounting and other materials. If there's a craftsmanship or damage issue it's good to raise these with your seller quickly. Most dealers are much more responsive early on. It's sort of like getting an inspection done as part of a house purchase. If you're going to get it insured and the dealer doesn't provide adequate paperwork (they usually don't), the report from this inspection will likely be required by your insurer.

Should you do both, one or neither? That's up to you and your objectives in getting it appraised in the first place. Normally appraisal services are a tiny budget item in a rather large and basically blind purchase and, personally, I think they can be extremely valuable but then I'm not exactly an unbiased observer on this question. I routinely have clients who get both of the above done generally report that they feel like they got good value from my services but neither appraisal is mandatory in getting a good value on a good ring. Usually it's not even necessary to have an appraisal to meet the minimum documentation requirements for an insurance company. They're not very picky and the receipt is often sufficient for them (YOU are the one who should be picky, but that's a different discussion).

 

[tenniz23]

Re: Thoughts on appraisal both before and after setting diam

I am ordering a diamond online and having a setting made by a local jeweler. I just wanted to get some opinions on whether it is necessary or advisable to have the diamond appraised by itself before it is set and then have the finished ring appraised again to make sure the stone has not been swapped or damaged? Is that overkill or is that something that is commonly done and/or should be done? Any advice is appreciated. Thanks!

The before appraisal is part of the shopping process. It's to confirm or refute things that the seller has told you and possibly to collect additional information that the seller didn't say. This can include things like the information on the lab docs but also claims like H&A patterning and establishing and documenting a benchmark of condition immediately prior to setting, which will be important if an issue comes up later. 'Value' questions normally come up in these assignments as well as comparative questions about how one stone compares to others with similar or identical descriptions. Setting the stone normally ends your ability to return it to the vendor, especially if it's going to be set by someone else so if you're looking for professional shopping advice from the appraiser, get it done first.

The after appraisal is for quality control purposes on both the mounting and the stone although this also includes the above issues with regard to the mounting and other materials. If there's a craftsmanship or damage issue it's good to raise these with your seller quickly. Most dealers are much more responsive early on. It's sort of like getting an inspection done as part of a house purchase. If you're going to get it insured and the dealer doesn't provide adequate paperwork (they usually don't), the report from this inspection will likely be required by your insurer.

Should you do both, one or neither? That's up to you and your objectives in getting it appraised in the first place. Normally appraisal services are a tiny budget item in a rather large and basically blind purchase and, personally, I think they can be extremely valuable but then I'm not exactly an unbiased observer on this question. I routinely have clients who get both of the above done generally report that they feel like they got good value from my services but neither appraisal is mandatory in getting a good value on a good ring. Usually it's not even necessary to have an appraisal to meet the minimum documentation requirements for an insurance company. They're not very picky and the receipt is often sufficient for them (YOU are the one who should be picky, but that's a different discussion).

Thanks for the thorough and very insightful response! I'm more of the careful type so I'll most likely have the diamond reviewed before it is set and then go back for a full appraisal. In terms of preparing for each appointment and the questions that i should ask during each, do you have any advice?

 

[Regular Guy]

Re: Thoughts on appraisal both before and after setting diam

I am ordering a diamond online and having a setting made by a local jeweler. I just wanted to get some opinions on whether it is necessary or advisable to have the diamond appraised by itself before it is set and then have the finished ring appraised again to make sure the stone has not been swapped or damaged? Is that overkill or is that something that is commonly done and/or should be done? Any advice is appreciated. Thanks!

The before appraisal is part of the shopping process. It's to confirm or refute things that the seller has told you and possibly to collect additional information that the seller didn't say. This can include things like the information on the lab docs but also claims like H&A patterning and establishing and documenting a benchmark of condition immediately prior to setting, which will be important if an issue comes up later. 'Value' questions normally come up in these assignments as well as comparative questions about how one stone compares to others with similar or identical descriptions. Setting the stone normally ends your ability to return it to the vendor, especially if it's going to be set by someone else so if you're looking for professional shopping advice from the appraiser, get it done first.

The after appraisal is for quality control purposes on both the mounting and the stone although this also includes the above issues with regard to the mounting and other materials. If there's a craftsmanship or damage issue it's good to raise these with your seller quickly. Most dealers are much more responsive early on. It's sort of like getting an inspection done as part of a house purchase. If you're going to get it insured and the dealer doesn't provide adequate paperwork (they usually don't), the report from this inspection will likely be required by your insurer.

Should you do both, one or neither? That's up to you and your objectives in getting it appraised in the first place. Normally appraisal services are a tiny budget item in a rather large and basically blind purchase and, personally, I think they can be extremely valuable but then I'm not exactly an unbiased observer on this question. I routinely have clients who get both of the above done generally report that they feel like they got good value from my services but neither appraisal is mandatory in getting a good value on a good ring. Usually it's not even necessary to have an appraisal to meet the minimum documentation requirements for an insurance company. They're not very picky and the receipt is often sufficient for them (YOU are the one who should be picky, but that's a different discussion).

Thanks for the thorough and very insightful response! I'm more of the careful type so I'll most likely have the diamond reviewed before it is set and then go back for a full appraisal. In terms of preparing for each appointment and the questions that i should ask during each, do you have any advice?

Neil's been doing a great job on this board for many years, I'm glad he chose to write above, and with a high quality answer as usual. Re your follow up, he provided a good answer previously as well...see here:

https://www.pricescope.com/community/threads/getting-the-most-out-of-your-jewelry-appraisal.19367/

All the best,

Ira Z.

 

[tenniz23]

Re: Thoughts on appraisal both before and after setting diam

I am ordering a diamond online and having a setting made by a local jeweler. I just wanted to get some opinions on whether it is necessary or advisable to have the diamond appraised by itself before it is set and then have the finished ring appraised again to make sure the stone has not been swapped or damaged? Is that overkill or is that something that is commonly done and/or should be done? Any advice is appreciated. Thanks!

The before appraisal is part of the shopping process. It's to confirm or refute things that the seller has told you and possibly to collect additional information that the seller didn't say. This can include things like the information on the lab docs but also claims like H&A patterning and establishing and documenting a benchmark of condition immediately prior to setting, which will be important if an issue comes up later. 'Value' questions normally come up in these assignments as well as comparative questions about how one stone compares to others with similar or identical descriptions. Setting the stone normally ends your ability to return it to the vendor, especially if it's going to be set by someone else so if you're looking for professional shopping advice from the appraiser, get it done first.

The after appraisal is for quality control purposes on both the mounting and the stone although this also includes the above issues with regard to the mounting and other materials. If there's a craftsmanship or damage issue it's good to raise these with your seller quickly. Most dealers are much more responsive early on. It's sort of like getting an inspection done as part of a house purchase. If you're going to get it insured and the dealer doesn't provide adequate paperwork (they usually don't), the report from this inspection will likely be required by your insurer.

Should you do both, one or neither? That's up to you and your objectives in getting it appraised in the first place. Normally appraisal services are a tiny budget item in a rather large and basically blind purchase and, personally, I think they can be extremely valuable but then I'm not exactly an unbiased observer on this question. I routinely have clients who get both of the above done generally report that they feel like they got good value from my services but neither appraisal is mandatory in getting a good value on a good ring. Usually it's not even necessary to have an appraisal to meet the minimum documentation requirements for an insurance company. They're not very picky and the receipt is often sufficient for them (YOU are the one who should be picky, but that's a different discussion).

Thanks for the thorough and very insightful response! I'm more of the careful type so I'll most likely have the diamond reviewed before it is set and then go back for a full appraisal. In terms of preparing for each appointment and the questions that i should ask during each, do you have any advice?

Neil's been doing a great job on this board for many years, I'm glad he chose to write above, and with a high quality answer as usual. Re your follow up, he provided a good answer previously as well...see here:

https://www.pricescope.com/community/threads/getting-the-most-out-of-your-jewelry-appraisal.19367/

All the best,

Ira Z.

Thanks Ira for pointing me to Neil's previous post. It has tons of great info. I guess I should've looked through the FAQ more thoroughly

 

[teobdl]

Re: Thoughts on appraisal both before and after setting diam

Do appraisers ever offer "before and after setting" appraisal packages?

The before would be verify/assess/document the stone unset; the after would be to give a full monetary assessment of the ring. Seems like one without the other is lacking.

This is especially important for people who get a bezel where the inscription is permanently sealed off from the appraiser's eyes.

 

[denverappraiser]

Re: Thoughts on appraisal both before and after setting diam

Do appraisers ever offer "before and after setting" appraisal packages?

The before would be verify/assess/document the stone unset; the after would be to give a full monetary assessment of the ring. Seems like one without the other is lacking.

This is especially important for people who get a bezel where the inscription is permanently sealed off from the appraiser's eyes.

I don't, but others might. Ask.

The reason I don't is that, for the second inspection, I have to do all of the work over again anyway. I need to inspect the condition, I need to match it to the prior report, I need to take new pictures (because we're moving the date forward, the condition benchmark moves) and I need to have a conversation about it with the client. Certain data, like the sarin file and the scans of the lab reports can be reused but, in practice, a standard finished item report doesn't usually contain a Sarin report anyway so, if anything, it's EXTRA work/time to include it. The paper and pixels of the finished report are just supplies. What I'm selling is my time and my expertise and these don't change much when you come back for the second (or third) visit. On the other hand, I have a fair number of clients who are only interested in the shopping part. They trust the dealer to take care of the final Quality Control and documentation and they'll do it for 'free' after all. Others trust that there's nothing important that's not in the sales packet and all they want is the insurance papers when it's over. I see it as something of an ala-carte sort of deal.

There are other appraisers who view it differently. They charge twice as much for the first visit and the second one is free. Some don't value their time and skills as much as I do. Some charge by the hour and will do whatever you ask and sell you as much time as you require. Some just haven't done the math. It's a big world and appraisers are definitely not all the same.