VERY upset with recent diamond appraisal - What to do?

[SimoneDi]

@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.

@tlfiore you are too kind! I try, but there is still so much learning to do and this I take as a learning experience. I think your last sentence hits the nail on the head - I suppose that he might have not been aware of the difference between "excellent" and "super-ideal" and pulled some generic comps.
I will reach out tomorrow and see if we can get to an agreement. I am definitely calmer about the situation now vs this morning

 

[flyingpig]

You got caught off guard by the fact that he is a PS "recommended" appraiser and you were in a rush. I am sure you knew immediately something did not go right, but you let it go. It must have been one of those off moments. It happens.
I hope you can get to an agreement.

 

[WinkHPD]

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.

I think MANY of us here share that tendency.

Wink

 

[diamondseeker2006]

I am so sorry, too! But I do think most appraisers are really unfamiliar with these brands and few have probably ever even appraised a true H&A diamond! I only use receipts and grading certificates to insure so I don't generally get appraisals, but on the jewelry items I have had to have appraised in the past, I tell them I don't want a value higher than what I paid, because more often than not, there's an inflated value rather than a low value. So basically in the future, I'd recommend attaching a note to the grading certificate of the diamond or item that you are insuring, and list the things that are important to you to have included in the report such as brand, characteristics of the H&A (or other) cut, note the price you paid (and say you do not want a value higher than that), etc. It's easy for us to tell you these things in hindsight, but the problems are very common, so addressing it before the appraisal is the best way to avoid problems!

Good luck to you today!

 

[Rockdiamond]

So sorry you had this issue with a PS recommend appraiser SimoneDi. I hope you get a quick, and positive resolution in your favor. You deserve it.
On a positive note, we've found JM to be extremely sensitive to replacing the clients item with something that any of us jewelry/diamond lovers would feel actually replaced the item.
There've cases of very expensive mountings which had been destroyed or stolen, and JM never tried to force a cheaper substitution.
I feel confident they will do the same thing with your super ideal diamond in the unlikely event you ever need to use the insurance .
Good luck!
PS – I also echo the sentiments that you're a very positive addition to this forum -thank you!

 

[rockysalamander]

I think that my rather detail-oriented nature probably helps me with appraisers. I usually come with a detailed list of what I want for each stone and the deliverables I expect. I will often go armed with my own comps. for vintage cuts and specialized stones. I usually leave those items with the appraiser "just in case they are helpful". If I had a super-ideal, which I don't and need in my life, I'd likely print out all the information about that special cut and provide alternatives that are similar (i.e., if you have BGD Signature, I'd print out info from WF and HPD).

I have had to ask an appraiser to edit reports...usually to simply ADD details...the calling a old cut and Old European Cut, not just "circular brilliant". As long as I'm not asking them to alter the facts, they are often willing to add descriptive details that provide more individual description to the particular item.

 

[denverappraiser]

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.

‘Just pull up comps’ is exactly what they’re supposed to do. Often they won’t even do that, by the way, they’ll just look up the price on a list and call it done. The problem here is which comps and what marketplace. A cushion? A discount Internet stone being sold by a company out of India?

The usual purpose of an ‘insurance’ appraisal is to write what is effectively the purchase order for the replacement. The appraiser needs to decide what are the ‘value characteristics’ of the item, what is the ‘usual and customary market’, and then write a report about it that becomes the definition of 'like kind and quality' at replacement time. Sometimes that’s pretty easy, sometimes it’s a pain, but it’s not rocket science. It’s just work, and yes, pulling comps is part of that work.

RE: ASET images, IS images, etc.

This usually isn’t part of an insurance appraisal assignment, even for an appraiser who is prepared to take them. I can see why it wouldn’t be here. The stone has an AGS doc, which I assume is referenced directly in the appraisal report. That doc has an ASET, so that ASET is now tied to the replacement procedure. The replacement jeweler needs to meet or exceed the specs, and that’s one of the specs. The same even holds for the branding. The stone has a girdle inscription, which is listed on the lab doc, which ties it into the replacement procedure. There is a secondary market, and it's remotely possible that it would work, but the only reliable way to buy a stone with a BGD girdle inscription is to buy it from BGD. That even ties it back to the dealer supplied images if you push it. I think it’s better to be more ‘in your face’ about this but, come replacement time, this can almost certainly be a spec used in defining the replacement. That's going to depend on the insurer and they don't all behave the same ways, but the data is there.

For insurance type work, I usually don’t take ASET pictures of stones that already have them and where I agree that it’s the correct stone, that it’s unaltered and undamaged since the image was taken, and where the seller isn’t doing anything deceptive with the imagery (like photoshop). Yes, I do check. There are exceptions, like if the client is comparing two stones from two different sources and needs images taken with identical methodology to be fair about the comparison, but that’s not an insurance question.

 

[liaerfbv]

I think you had unrealistic expectations and were disappointed. Keep in mind, the average appraiser deals with the "average" consumer. I would have told him specifically what the report needed to say, come in with similar comps for his use, advised you were obtaining this appraisal specifically to guarantee a replacement for a branded super ideal diamond and the brand and cut quality needed to be listed. No one other than a PSer needs that on a appraisal, so why would be think to provide that information on his report? Until you communicate exactly what you need, it's silly to be disappointed by your own unmet expectations. Call him and ask him to redo the report - it's that easy. If he refuses, then you have grounds to be upset.

 

[diamondseeker2006]

Simone, one more thing. I'd recommend getting a quote from GemSafe (https://www.gemsafe.com/) for your insurance the before your renewal date. Several people have said their rates are considerably lower than JM.

 

[SimoneDi]

@diamondseeker2006 thank you very much for the advice! What you explained about providing the insurance company with a purchase receipt and a copy of the certificate is what I have done in the past. Here, the primary purpose was to get the other diamond appraised (which was pre-loved and uncertified) and in the process I decided to get my main diamond insured as a secondary "proof", if you'd call it. Thanks for the well wishes, I will post once there is any progress. Lastly, thanks for the insurer suggestion. In fact, I have already looked into GemSafe and may switch with them after my current year with JM ends, which is in a few months.

@flyingpig your assessment is pretty spot on, "caught of guard" is what I would say happened. I hope that at least he will be willing to alter the appraisal to reflect the accurate value.

@Rockdiamond many thanks for your kind and encouraging words! It is wonderful to hear that in your experience, JM has always replaced expensive settings/diamonds with same quality alternatives. I hope that I never have to use the policy, but since I have already had one stolen e-ring (which was not insured at the time) I know that it is possible to lose valuable items. I hope that the appraiser sees my point of view and corrects the issue.

@rockysalamander thank your again for your feedback and for taking the time to discuss the topic with me privately. It is very much appreciated! I definitely see your point about being more explicit about my requirements and even helping the appraisal process by providing comps, etc. I think that because of his reputation/price point, I just assumed that "he's got it". I see that was not the case for both items. Will try to reach an amicable resolution.

@liaerfbv I appreciate your feedback. However, I do not consider my expectation for a fair evaluation "unrealistic". The additional images suggested, sure, since I didn't specifically request any, I can't really be mad about the lack of such. Nonetheless, since this appraisal cost much more than usual, I did naturally expect a better/more accurate job. I also did mention that I heard of him through PS, we even chatted about the forum for a bit, so he had an idea that he is working with a "PSer". I don't visit appraisers often, so I can admit that I wasn't aware of the need to spell all of my requirements, but as I said before - learning experience. That still doesn't preclude me from being upset that my diamond was appraised for 40% less of what it cost or what would cost to replace it.

@denverappraiser Many, many thanks for providing a thorough explanation of the appraisal process, what is to be expected of one and what is out of the ordinary! I especially appreciate your clarification regarding the main purpose of the appraisal, or to identify the characteristics of the diamond, the market and provide a clear report of what would be considered a 'like kind and quality' replacement. I will incorporate your feedback as part of my follow-up in order to make my request clear to follow. Thank you also for letting me know when ASET images are to be expected or not. My initial thought was the same - that I already have the images from BGD and an ASET as part of the AGS report, so they are probably not needed, but later started doubting that thought. That is really not my main problem here and as long as there is an unquestionable link between the appraisal, the diamond and the brand. Thank you again!

 

[rubybeth]

I, too, had a disappointing experience with an appraisal. Except I felt the valuation was too high, and they wouldn't call my stone an Old European Cut or even a transitional cut without a certificate saying so. It was annoying, but ultimately, I got a new AGS certificate and an appraisal value I was okay with. I had to argue, push back, show documentation, etc. but I got what I wanted in the end. I started by emailing my concerns as just that, basically saying, "This isn't what I expected, please help me understand" kind of language, and then following up with, "This is how I'd like to see this resolved," kind of stuff. It sucked, but to be honest, I felt I had a lot more knowledge of antique diamonds than the associate who was helping me.