VERY upset with recent diamond appraisal - What to do?

[SimoneDi]

Hi everyone!

I am hoping that I can get your feedback on something that didn't let me sleep last night! I will try to keep my story short;
Last week I bought an uncertified diamond which had a good price, local seller and I figured I can take the risk on it because the price was right (heads up, the story is not really about this diamond). In the past, I have taken some jewels to a pretty affordable appraiser who does an ok job, but since I always refurbish my pieces and get them certified, I never really pay too much attention to the initial appraisal. This time, I figured I would give someone else a chance and searched through the PS list of "approved appraisers". One of them was located 5 mins away from my office (huge plus), he was very nice and accommodating over the phone, he had all the credentials I wanted to see, advertised SARIN, ASET use, etc. on his website and even though I knew that he would be more expensive, I felt like he may be worth it.
I met with him yesterday, we had a nice discussion as he immediately saw that I am familiar/love diamonds. I brought a few additional pieces that I thought I might want to have him look over, but given his pricing (which many may find reasonable, but it was much more compared to my other appraiser) I decided to only have him appraise the new diamond ring and my new BGD Signature diamond as I will be shipping it this week to be set and figured that it was probably a good time to look at it and have an appraisal on it.

I spent about an hr at his office, he examined both pieces, but immediately, I was a bit disappointed that he didn't take ASET, IS, Sarin images. I think because I was thinking about work and knew that I already have all the images for my BGD stone and I will be sending the new stone to GIA soon, I wasn't as bothered by it in the moment. The appraiser was very quick and got me the reports last night. The new diamond came back pretty much as expected and am fine with its evaluation. HOWEVER, the value for my new AGS000 I SI2 stone came thousands under expected and I am just confused and really, really not happy. Now, I did not expect or want a greater value, even a slightly lesser would have been alright with me as I am not exactly eager to pay high insurance premiums. But, my greatest fear is losing/having yet another engagement ring stolen and NOT getting a Super-Ideal of the same quality as a replacement. So, what I would have liked to see in this appraisal is more images and more information explaining the cut quality of my stone and I don't think that the end result is remotely close.

Here is the link to my diamond: https://www.briangavindiamonds.com/...ls/2.130-i-si2-round-diamond-ags-104093633003

This is an excerpt from the appraisal showing "comparative diamonds" for evaluation purposes.


I haven't had the time to search through all websites, but I was able to locate two of the stones:
1. http://www.b2cjewels.com/dd/1050873...m_medium=referral&utm_campaign=pricescope.com
AGS for the stone:
http://agslab.com/reportTypes/pldqr.php?StoneID=104084581001&Weight=2.1&D=1

2. https://www.bluenile.com/build-your-own-ring/diamond-details/LD08389801

3. A cushion???

Like no, these are not "alike" stones. First one, far away from H&A..second one 60/60, J with shallow crown and nasty table inclusion...NO! I am livid can you tell??

Instead, I would have expected stones like the below to serve as comparisons:
https://www.hpdiamonds.com/en-us/diamonddetail/HPD8104
https://www.whiteflash.com/loose-diamonds/round-cut-loose-diamond-3857656.htm?source=pricescope
https://www.whiteflash.com/loose-diamonds/round-cut-loose-diamond-3857656.htm?source=pricescope
https://www.briangavindiamonds.com/diamonds/diamond-details/1.937-i-si2-round-diamond-bfg-785046
https://www.briangavindiamonds.com/diamonds/diamond-details/1.947-i-si2-round-diamond-bfg-785042
https://www.briangavindiamonds.com/...ls/2.060-i-si1-round-diamond-ags-104095918057

So before I call, express my disappointment and demand my money back, am I exaggerating and freaking out for no reason??? I was just expecting a lot more for close to $300 (both pieces). I am not sure if I am being unrealistic, but my old appraisals used to cost me $40-$50 and at least I never expected much from them..

@denverappraiser @oldminer I will greatly appreciate your feedback!

 

[mrs-b]

I have nothing to contribute on this, SimoneDi, but I am so sorry you're going through this! How horribly disappointing.

 

[SimoneDi]

I have nothing to contribute on this, SimoneDi, but I am so sorry you're going through this! How horribly disappointing.

Thank you for the sympathy @mrs-b I couldn't fall asleep till 2am last night just being mad about this. I could have skipped the appraisal and gotten myself a plain plat band that I have been eye-ing. I am all about "value" even if things cost more and I just feel that I was robbed and need to start over with someone else.

 

[ChristineRose]

As this is a BGD, you want the insurance to buy you a BGD if it is stolen. It's sounds like you'd be okay with other brands, so long as it's a superideal. You should tell the appraiser to specify it's a a branded stone and appraise it accordingly. There's zero chance the insurance will spring for a BGD with that appraisal if the stone is lost.

It would have been best to tell him all this in advance, but you should explain the situation to him and talk about the next steps. If he's truly a good appraiser he'll want to make this right.

 

[HappyNewLife]

ugh, I'm sorry. It sounds like he just pulled out a comps tool rather than truly evaluating what your diamond is. When I insured my diamond, it was insured for the price paid, not for an appraisal value. So even if comps aren't fair or if there are diamond price fluctuations, I'm always covered with the actual amount paid. I'm sorry you wasted the $

 

[AprilBaby]

Why don’t you insure it for what you paid for it using the original receipt? Not sure why they didn’t do a more consistent appraisal.

 

[SimoneDi]

Alright, my stone is already insured based on what I paid for it through JM. BGD has a direct affiliation with JM and I always insure my stones the moment the shipment arrives in town. What I thought I wanted was another document confirming the super-ideal nature of the diamond and having a rock solid proof for insurance purposes because recently I read some not so great insurance replacement stories. We did talk about cut! I asked if he knew of BGD, WF, CBI, AGS000 etc. He has done appraisals for the RedSox and has been featured in local news, I didn't consider that I have to micromanage a supposedly experienced appraiser.

 

[BlingDreams]

Yep, I'd go back; but instead of demanding my money I'd ask that he update the appraisal accordingly, given that it's a super ideal cut. Ask that it be documented in the paperwork that it's a super ideal cut (or however it should be worded) and even provide him links to comps from BGD, Wink, WF, etc. so that he can get a TRUE accurate estimate.

Since he's an appraiser (and a PS recommended one at that) I would have thought he'd be familiar with the impact of cut vs just color/clarity comps but apparently he really missed the boat on this one. Sorry you're having to deal with it...

 

[SimoneDi]

Yep, I'd go back; but instead of demanding my money I'd ask that he update the appraisal accordingly, given that it's a super ideal cut. Ask that it be documented in the paperwork that it's a super ideal cut (or however it should be worded) and even provide him links to comps from BGD, Wink, WF, etc. so that he can get a TRUE accurate estimate.

Since he's an appraiser (and a PS recommended one at that) I would have thought he'd be familiar with the impact of cut vs just color/clarity comps but apparently he really missed the boat on this one. Sorry you're having to deal with it...

Thanks for your feedback! I don't know if I want him to do anything else, I feel like it is just a waste of time from this point on. One of the appraisals is ok, but my BGD one..not ok.

 

[Karl_K]

Was the brand mentioned?
Its a branded cut so it should be mentioned and the comps should be branded stones.

 

[GearGirly]

Pretty sure you won’t find a good diamond of that size for that replacement amount, I’m sorry this happened!

 

[SimoneDi]

Was the brand mentioned?
Its a branded cut so it should be mentioned and the comps should be branded stones.

Hi Karl, yes, the brand is even laser inscribed, so he listed that on the report, but obviously thought that finding the cheapest 2.1 I/J SI2 alternative was sufficient. During the review, he even commented that it is a very eye-clean stone and considered it an SI1/SI2 before seeing the report. I am not sure if the type of inclusions can be mentioned in a report, but to me they are important..

 

[shampoolady]

I am so sorry, what a frustrating situation. I would be very upset too.

I recently bought a stone at BN and shipped it to GOG who did ASET/IS/Sarin, coordinated with Vatche on the setting, and did the appraisal on the final ring for less than you were charged. The appraisal is highly detailed and includes all images, and I think the value is appropriate. Maybe for next time?

 

[SimoneDi]

Pretty sure you won’t find a good diamond of that size for that replacement amount, I’m sorry this happened!

Right, I think it is pretty impossible as well. My stones are insured, so I am not even worried about that at this point. But I found the appraisal a) Unprofessional b) A bit offensive and I am mostly just mad at myself because I had an uneasy feeling when he told me the cost and I should have just listened to my instincts and walked out. I usually don't get "tricked" easily, but this happened

I am so sorry, what a frustrating situation. I would be very upset too.

I recently bought a stone at BN and shipped it to GOG who did ASET/IS/Sarin, coordinated with Vatche on the setting, and did the appraisal on the final ring for less than you were charged. The appraisal is highly detailed and includes all images, and I think the value is appropriate. Maybe for next time?

Thanks for posting! Today I was searching on PS re appraisal issues and came across your post! (which is about the total opposite - a happy appraisal experience with GOG!) I was biting myself for not listening to my instincts and finding a better appraiser. One of the appraisals is simpler, so I am ok with having that done locally, but yes, an appraisal similar to yours is what I was expecting

 

[denverappraiser]

Call him up and talk about your concerns.

Make your case on the comps. In particular, a BGD branded stone (any branded item really) should be replaced with a similar branded stone. BGD is still in business, they have plenty of stones for sale, they would be thrilled to sell you another one, and they publicly publish their prices. Did the appraiser discuss values during your session?

Did you ask for Sarin, ASET and IS data at the time of the inspection? What did he say?

Just out of curiosity, why are you planning on sending this to GIA? If it’s to second guess AGS, meaning a return if GIA says something different/worse, make sure you’ve got a timeline that works with the seller return policy. I don’t actually know BGD's, but sometimes GIA and shipping can be slow and this gets pretty tight.

 

[mrs-b]

Thank you for the sympathy @mrs-b I couldn't fall asleep till 2am last night just being mad about this. I could have skipped the appraisal and gotten myself a plain plat band that I have been eye-ing. I am all about "value" even if things cost more and I just feel that I was robbed and need to start over with someone else.

@SimoneDi - if this is someone in Boston, you must let me know who he is, so I don't inadvertently walk through his door as well!

 

[SimoneDi]

Call him up and talk about your concerns.

Make your case on the comps. In particular, a BGD branded stone (any branded item really) should be replaced with a similar branded stone. BGD is still in business, they have plenty of stones for sale, they would be thrilled to sell you another one, and they publicly publish their prices. Did the appraiser discuss values during your session?

Did you ask for Sarin, ASET and IS data at the time of the inspection? What did he say?

Just out of curiosity, why are you planning on sending this to GIA? If it’s to second guess AGS, meaning a return if GIA says something different/worse, make sure you’ve got a timeline that works with the seller return policy. I don’t actually know BGD's, but sometimes GIA and shipping can be slow and this gets pretty tight.

@denverappraiser thank you very much for your feedback. I will respond via email and will if needed call him tomorrow to explain my disappointment.

I agree that if anything is to happen to my stone, then ideally, it should be replaced with a BGD diamond. We did not talk about specific value although I asked. He said that he needed to research accurate comparable diamonds. Honestly, I felt that he wasn't aware of BGD pricing and I let it go in the moment. I did mention several times that it is an ideal cut stone and that I value diamond cutting precision. I mentioned my concern about replacing with "alike" diamond in the event of loss.

It was my fault that I did not ask specifically for an ASET, IS and Sarin evaluations. I had an upcoming work meeting and I just thought "oh well I have the images from BGD" but what is the purpose of an independent appraisal?! I saw that he has the tools. He even let me play with his ASET. I guess I should have asked specifically, but again, isn't that part of the appraiser job? What if I had no idea what to ask for? Shouldn't he advice?

Lastly, I brought in 2 pieces for evaluation - my bgd stone and another diamond/ring. I am planning on sending the other diamond to GIA and we even had an agreement to meet again to do a more thorough appraisal on the diamond alone. I just wanted to have it insured for shipping purposes.

 

[SimoneDi]

@SimoneDi - if this is someone in Boston, you must let me know who he is, so I don't inadvertently walk through his door as well!

I will send you an email as I will refrain from posting his name here until the issue is settled.

 

[Wallyhenry]

I’m sorry you had to go through this. I can only imagine your frustration getting a sand bag appraisal for a lovely BGD stone based on some bottom of the barrel BN comparables.

Does BGD appraise their own loose stones before they ship them out? GOG appraised my loose diamond free of charge and included their appraisal report with all images and stone information with the shipment. Perhaps BGD can provide you with an appraisal report for theirs?

 

[LLJsmom]

I'm sorry @SimoneDi . Call me cynical but I'm not surprised an appraiser just pulled up comps. I assume that most appraisers, even PS approved ones, would do that. I would just stick with the price you paid and call it a day. I have had jewelers who have set my stones just ask me for the price I paid, and then they just tack on the price of the setting, and done deal. Simpler. Sorry your expectations were raised, and not unreasonably so either. I would save yourself the aggravation.

 

[rockysalamander]

You don't have to confirm or deny if this was your appraiser, but I've had several very good experiences with Arthur Demello.
http://www.nationalgemologicallaboratory.com/

Also in the Boston area. No superideals, but a bunch of old cuts and ideals. One natural blue diamond.

 

[SimoneDi]

@rockysalamander thank you for the information! Would you mind contacting me here: https://loupetroop.com/listings/bands/contact-simonedi-from-ps
as I would love to ask you some Qs regarding your preferred local appraiser.

Also, natural blue diamond

 

[rockysalamander]

Message sent

 

[SimoneDi]

Message sent

Thank you! Replied

 

[WinkHPD]

I always tell clients that are having an appraisal other than my "Evaluation for Insurance Purposes" that I send with every diamond or ring that we sell, to be sure that the appraiser uses the information on the Evaluation that I send, to include SPECIFICALLY that it is a Crafted by Infinity diamond with a Proprietary AGS report and that the report number MUST be on the appraisal. This locks the replacement into a Crafted by Infinity diamond of equal or greater value of the one that was lost or damaged.

Make sure that your appraiser does this for your Brian Gavin diamond. Brian also uses Proprietary AGS reports if I am not mistaken, and to gather comps from discount sellers of average goods is wrong in my opinion. (I am NOT an appraiser of the quality of Neil Beatty but I am pretty sure that he would be putting your AGS report number on the appraisal and stating in writing that the diamond is a Brian Gavin diamond. I will let him address that...)

Just my thoughts. At this time you are NOT adequately protected without The report number and especially with values from "not like kind quality diamonds."

Wink

 

[SimoneDi]

I always tell clients that are having an appraisal other than my "Evaluation for Insurance Purposes" that I send with every diamond or ring that we sell, to be sure that the appraiser uses the information on the Evaluation that I send, to include SPECIFICALLY that it is a Crafted by Infinity diamond with a Proprietary AGS report and that the report number MUST be on the appraisal. This locks the replacement into a Crafted by Infinity diamond of equal or greater value of the one that was lost or damaged.

Make sure that your appraiser does this for your Brian Gavin diamond. Brian also uses Proprietary AGS reports if I am not mistaken, and to gather comps from discount sellers of average goods is wrong in my opinion. (I am NOT an appraiser of the quality of Neil Beatty but I am pretty sure that he would be putting your AGS report number on the appraisal and stating in writing that the diamond is a Brian Gavin diamond. I will let him address that...)

Just my thoughts. At this time you are NOT adequately protected without The report number and especially with values from "not like kind quality diamonds."

Wink

Wink, as always, thank you very much for your feedback, your insight is much appreciated.

So similar to what you provide your clients with, BGD had provided me with a statement of value I would call it. I am currently insured based on the value that I paid and I am fine with that. I didn't really feel the need to get an additional appraisal, but said appraiser quoted me pretty much the same price for 1 or 2 items (he actually didn't have a set price list and that was what made me feel uneasy and wanting to walk out. Note to self: listen to your instincts.) I figured, why not get an additional appraisal on my most valuable diamond before it is set.

The diamond is inscribed with the AGS number and BGDs logo, so that information is on the report. But nothing else specifying that it is a Brian Gavin diamond.

I also feel that the pulled comps have nothing "comparable" with my diamond and really have no place there. How is a cushion even a comp? So bizarre.. I think they just made the appraisal more confusing and weaken its supposed value.

Thanks again for chiming in.

 

[Shopaholic]

Thank you for the sympathy @mrs-b I couldn't fall asleep till 2am last night just being mad about this. I could have skipped the appraisal and gotten myself a plain plat band that I have been eye-ing. I am all about "value" even if things cost more and I just feel that I was robbed and need to start over with someone else.

I have no expertise to give on this matter but share the same sentiments that I would be terribly upset too. It’s not so much the money but the principle at this point, what you paid is in the higher price for appraisals, you would expect a bit more service in giving your stone the value it’s due.

 

[SimoneDi]

I'm sorry @SimoneDi . Call me cynical but I'm not surprised an appraiser just pulled up comps. I assume that most appraisers, even PS approved ones, would do that. I would just stick with the price you paid and call it a day. I have had jewelers who have set my stones just ask me for the price I paid, and then they just tack on the price of the setting, and done deal. Simpler. Sorry your expectations were raised, and not unreasonably so either. I would save yourself the aggravation.

I mean, I guess I shouldn't be surprised by anything I just find it upsetting, if I can get "tricked", poor average consumer out there. I will think about what I want to do a little longer, but I appreciate your advice!

 

[tlfiore]

@SimoneDi I follow many of your posts with interest because you are always so thoughtful and you seem so knowledgeable about diamonds. Cannot imagine this happening. I mean, the differences between the seller and the appraiser (the appraisal) are quite disparate. I'm sorry. It's got to be unsettling to you. It will work out. I think @Wink has some good advice. Maybe this particular appraiser didn't quite know what he was seeing in front of him.

 

[SimoneDi]

I have no expertise to give on this matter but share the same sentiments that I would be terribly upset too. It’s not so much the money but the principle at this point, what you paid is in the higher price for appraisals, you would expect a bit more service in giving your stone the value it’s due.

Thanks for the understanding @Shopaholic .. I think I have the tendency to get upset if things are "not right" which is what I think happened here. I will see if we can get this sorted out. I hope so. This is definitely a lesson for me either way.