Value of a loose stone appraisal

[PillowTalk06]

A question regarding appraisals in this scenario. I have committed to a stone, no remorse period. If I am going to have that stone sent from the vendor directly to be set, by a jeweler with bench insurance, is it still in my best interest to have the stone appraised loose before it is set? I see the value in this if one is still in the pre-purchase stage, but is there any advantage for someone who is already in ownership of the stone, considering that there will be an appraisal done of the completed ring regardless? Thanks!

 

[Texas Leaguer]

Yes, there is value in having it appraised prior to setting. That way you have independent verification of the diamond so that you know it is the diamond you purchased and that it is in the condition represented by the seller. If anything happens during the setting process you will know whether it was pre-existing or might be the responsibility of the jeweler doing the work. Most appraisers will work with you to do the diamond part of the appraisal first, then add the setting part after completion so that you have a comprehensive document on the piece.

 

[denverappraiser]

The value to you will vary depending on what you want. Usually this has to do with either the shopping process, the insurance coverage during the setting, or documentation requirements imposed by the setter. It sounds like you’ve ruled out all of these, so it’s a tossup if you would find it valuable. If you’re not worried about anything your seller said or didn’t say, you’re confident that it’s the correct stone and it’s undamaged since the lab had it, and your setter has no requirements in order to get their own insurance covered, you may want to wait and do it all at the end.

 

[PillowTalk06]

Great responses. Thanks for the education, gentlemen.