What HAPPENED?!

[neatfreak]

Date: 10/12/2008 1:22:28 PM
Author: wishinpink

Date: 10/12/2008 1:05:34 PM

Author: Richard Sherwood

Wishin, if you''d like a verbal second opinion on the clarity (only), and whether the feather has extended (which is unlikely), I would do it for you at no charge except for shipping to and fro.


Since you guys are students and all...


If we used Fedex 2nd Day Air, it would cost you about $45 each way with insurance.

That is too kind!!!!!!!! You are so, so nice!! Thank you so much for your offer! I really appreciate it.


On Monday I am going to first call the appraiser and try to visit her if possible. Then, I will take the diamond to my local
jeweler and see if they can give me a quick second opinion. If nothing works out, I will definitely think about sending this diamond to you!

I would be hesitant to listen to a random local jeweler. This is a pretty specific thing and IMO most jewelers don''t know a lot unless you have someone you trust already...

 

[Richard Sherwood]

Date: 10/12/2008 1:16:49 PM
Author: Lorelei

Rich, you are a wonderful man!

No wonderful to it. Just good P.R.

Thanks anyway though.

 

[Lorelei]

Date: 10/12/2008 1:26:08 PM
Author: neatfreak

Date: 10/12/2008 1:22:28 PM
Author: wishinpink

Date: 10/12/2008 1:05:34 PM

Author: Richard Sherwood

Wishin, if you'd like a verbal second opinion on the clarity (only), and whether the feather has extended (which is unlikely), I would do it for you at no charge except for shipping to and fro.


Since you guys are students and all...


If we used Fedex 2nd Day Air, it would cost you about $45 each way with insurance.

That is too kind!!!!!!!! You are so, so nice!! Thank you so much for your offer! I really appreciate it.


On Monday I am going to first call the appraiser and try to visit her if possible. Then, I will take the diamond to my local
jeweler and see if they can give me a quick second opinion. If nothing works out, I will definitely think about sending this diamond to you!

I would be hesitant to listen to a random local jeweler. This is a pretty specific thing and IMO most jewelers don't know a lot unless you have someone you trust already...

Ditto, your local jeweller may not have the same skills or experience of a professional gem appraiser.

And Rich you are a darling!

 

[NeverEndingUpgrade]

I suspect that the appraiser does not know anything about Regents. I showed my Jubilee to a "jewelry designer", not for an appraiser though, but he had no idea what a Jubilee was and he said "Oh, did you pay about $____ for it?" (lowball price inserted here- rest assured it was an insult).

I then had it appraised by the jewelry store that set it for me and they appraised it at exactly what I had paid GoodOldGold for it. So that just goes to show that someone in the industry doesn''t necessarily know anything about valuations on an unusual cut.

 

[Dreamer_D]

Date: 10/12/2008 1:28:33 PM
Author: Lorelei

Date: 10/12/2008 1:26:08 PM
Author: neatfreak

Date: 10/12/2008 1:22:28 PM
Author: wishinpink

Date: 10/12/2008 1:05:34 PM

Author: Richard Sherwood

Wishin, if you''d like a verbal second opinion on the clarity (only), and whether the feather has extended (which is unlikely), I would do it for you at no charge except for shipping to and fro.


Since you guys are students and all...


If we used Fedex 2nd Day Air, it would cost you about $45 each way with insurance.

That is too kind!!!!!!!! You are so, so nice!! Thank you so much for your offer! I really appreciate it.


On Monday I am going to first call the appraiser and try to visit her if possible. Then, I will take the diamond to my local
jeweler and see if they can give me a quick second opinion. If nothing works out, I will definitely think about sending this diamond to you!

I would be hesitant to listen to a random local jeweler. This is a pretty specific thing and IMO most jewelers don''t know a lot unless you have someone you trust already...

Ditto, your local jeweller may not have the same skills or experience of a professional gem appraiser.

And Rich you are a darling!

Big ditto, why bother with a local who may or may not know anythng? Do a search on Richard Sherwood and you will see he is a top knotch appraiser. What an offer, excellent PR indeed Mr. Sherwood

 

[amyjokerette]

Author: Richard Sherwood


Wishin, if you''d like a verbal second opinion on the clarity (only), and whether the feather has extended (which is unlikely), I would do it for you at no charge except for shipping to and fro.



Since you guys are students and all...



If we used Fedex 2nd Day Air, it would cost you about $45 each way with insurance.

Gotta love the PS community. I just warms my heart to see that Richard would do that to help alleviate wishinpink''s mind. And yes, excellent PR! I know who will be appraising my diamond when the time comes!!!

 

[arjunajane]

Date: 10/12/2008 11:12:39 PM
Author: amyjokerette

Author: Richard Sherwood


Wishin, if you''d like a verbal second opinion on the clarity (only), and whether the feather has extended (which is unlikely), I would do it for you at no charge except for shipping to and fro.



Since you guys are students and all...



If we used Fedex 2nd Day Air, it would cost you about $45 each way with insurance.

Gotta love the PS community. I just warms my heart to see that Richard would do that to help alleviate wishinpink''s mind. And yes, excellent PR! I know who will be appraising my diamond when the time comes!!!

Ditto, kind and smart, lol..

 

[wishinpink]

You guys, I HAVE GOOD NEWS!!!!!!!!!!!!

The appraiser contacted me first thing in the morning after hearing my message on the phone, and she said that the radiant and the Si-2 parts were all TYPOS... she said it was because she was in a rush due to her having a super busy day on Friday and she will mail me corrected copies of the appraisal!


I AM SO RELIEVED!!!!!

Thank you guys so much for your help and support!!! I went through so many different phases of doubt over the weekend and I''m so glad it''s over!!! I was actually really nice to the appraiser because I think my message may have sounded angry, so when she called the first thing she did was apologize. That doesn''t take care of teh anguish I went through over the weekend but seeing as how I''m so happy there''s nothing wrong with my diamond, I think I''ll forgive her .


I''m SO HAPPY and so relieved! Thank you all of you!!!!

 

[Lorelei]

Great news!!

 

[wishinpink]

I''m just so happy to know that the appraiser messed up and it wasn''t the diamond that was messed up!!!!

Thank all of you for your advice, support, opinions. I have read it all very carefully. For future appraisals, rest assured I will not be using this lady and will be using one of the appraisers in this thread

 

[Lorelei]

You are most welcome and now you can enjoy your ring to the full!

 

[neatfreak]

Yay!!!!! So glad!!!!! I thought there must be a mistake because it would have been really stupid of her to say that it matches the cert, tell you to wire the $, then say "Oh by the way, it doesn''t match the cert".

Yippee! And aren''t you so happy that it was able to be worked out amicably?

 

[wishinpink]

Date: 10/13/2008 12:33:53 PM
Author: neatfreak
Yay!!!!! So glad!!!!! I thought there must be a mistake because it would have been really stupid of her to say that it matches the cert, tell you to wire the $, then say ''Oh by the way, it doesn''t match the cert''.

Yippee! And aren''t you so happy that it was able to be worked out amicably?

Yes I am so happy! I mean... regardless I''m not so impressed with this appraiser, because she was still kinda rushing me on the phone as well (LOL) but at least she confirmed she typed the wrong stuff!!

You''re right though-- I kept thinking I HOPE IT''s A TYPO, why did she tell me to send money?!

Thank you, and all the others for their help! Next time I shall try to calm down more and call the appraiser first before making a fuss!!! I''m truly sorry... first diamond, =P Anyway, lesson learned. The appraiser didn''t even try to make up for the stress she caused me, she just said that she wished the call was forwarded from the office and she would''ve told me right away that she typed wrong stuff on my report.

Anyway, I don''t care she isn''t "making up" for the mistakes, I just care that she will mail me the accurate reports, and that I learned my lesson. So all in all, I am very happy.


This is the new report-
Loose Diamond
Pictured is a loose Regent diamond weighing 0.91 carats. The stone is accompanied by GIA report #13085327. A copy is included with this report. Copies of other documentation accompanying the diamond are included as well.

Diamond Grading Report
Shape and Cut: Regent branded cut
Weight: 0.91 Carats. (actual)
Proportions: Very Good
Depth: 64.94%
Table: 67.0%
Girdle: Medium- extremely thick
Culet: Closed
Finish
Polish: Very Good
Symmetry: Very Good
Clarity: VS-2
Color: H
Fluorescence: None (lw)

Legend: Feather

Total Approximate Retail Value $4,515.00
9.00 % Tax $406.35
Total Approximate Retail Value Including Tax $4,921.35

Four thousand nine hundred twenty-one dollars and thirty-five cents

Signature of Preparer: ________________________________
Janet Connors Stevens, GG, ASA
Master Gemologist Appraiser®

 

[wishinpink]

This is a small side question-

It''s not a big deal, but the amount she valued my diamond for seems in my opinion to be a bit off. The amount she valued the diamond for, $4515, was less than the original buyer of the diamond paid for the diamond from GOG in 2005, ($4732). GOG had an appraisal saying that this diamond''s retail replacement value was around $6000. I typed in the specs to a comparable round H&A and it was around $5300, but it had better polish and symmetry than my diamond.

I asked her how she got the value and she said she looked it up in a book, and didn''t want to say any more than that. I''m not complaining about the amount valued, I''m merely curious as to how this number was reached, and how other people reach numbers in an appraisal?

 

[bgray]

i really dont why she could explain how she valued it-i mean thats her job after all but i wonder if it is b/c branded cuts like that (while IMO wonderful) dont have the demand of say a plain vanilla round.????

 

[wishinpink]

Well actually, I''m not quite sure how the lady valued it, because as it is- if I lost this diamond, I couldn''t afford to buy it again! Shouldn''t this diamond be valued with a comparable H&A round? I have a feeling she valued it with a radiant...

 

[neatfreak]

Date: 10/13/2008 2:01:05 PM
Author: wishinpink
Well actually, I''m not quite sure how the lady valued it, because as it is- if I lost this diamond, I couldn''t afford to buy it again! Shouldn''t this diamond be valued with a comparable H&A round? I have a feeling she valued it with a radiant...

No...it''s not a H&A round so why would it be any more correct to value it like that than with a radiant? It should be valued as a Regent.

 

[wishinpink]

Date: 10/13/2008 2:02:38 PM
Author: neatfreak

Date: 10/13/2008 2:01:05 PM
Author: wishinpink
Well actually, I''m not quite sure how the lady valued it, because as it is- if I lost this diamond, I couldn''t afford to buy it again! Shouldn''t this diamond be valued with a comparable H&A round? I have a feeling she valued it with a radiant...

No...it''s not a H&A round so why would it be any more correct to value it like that than with a radiant? It should be valued as a Regent.

Well, of course it should be valued as a regent, but I highly doubt they have regent cut diamond values in their book right? Don''t appraisers value the diamond by what is the closest to it that they have information on?

 

[neatfreak]

Date: 10/13/2008 2:04:06 PM
Author: wishinpink

Date: 10/13/2008 2:02:38 PM

Author: neatfreak

Date: 10/13/2008 2:01:05 PM

Author: wishinpink

Well actually, I''m not quite sure how the lady valued it, because as it is- if I lost this diamond, I couldn''t afford to buy it again! Shouldn''t this diamond be valued with a comparable H&A round? I have a feeling she valued it with a radiant...

No...it''s not a H&A round so why would it be any more correct to value it like that than with a radiant? It should be valued as a Regent.

Regents might be a bit rare, but I would still think she could get accurate value information on them. Maybe I''m wrong though! Again, you should call her and ask and explain that you are concerned because her appraised value is less than it would cost to replace it on the open market. Which is the real issue here right?

Are there any comparables or have you called GOG to ask them what the actual replacement cost for it would be?

Well, of course it should be valued as a regent, but I highly doubt they have regent cut diamond values in their book right? Don''t appraisers value the diamond by what is the closest to it that they have information on?

 

[wishinpink]

Date: 10/13/2008 2:07:34 PM
Author: neatfreak

Date: 10/13/2008 2:04:06 PM
Author: wishinpink

Date: 10/13/2008 2:02:38 PM

Author: neatfreak

Date: 10/13/2008 2:01:05 PM

Author: wishinpink

Well actually, I''m not quite sure how the lady valued it, because as it is- if I lost this diamond, I couldn''t afford to buy it again! Shouldn''t this diamond be valued with a comparable H&A round? I have a feeling she valued it with a radiant...

No...it''s not a H&A round so why would it be any more correct to value it like that than with a radiant? It should be valued as a Regent.

Regents might be a bit rare, but I would still think she could get accurate value information on them. Maybe I''m wrong though! Again, you should call her and ask and explain that you are concerned because her appraised value is less than it would cost to replace it on the open market. Which is the real issue here right?

Are there any comparables or have you called GOG to ask them what the actual replacement cost for it would be?

Well, of course it should be valued as a regent, but I highly doubt they have regent cut diamond values in their book right? Don''t appraisers value the diamond by what is the closest to it that they have information on?

Well I asked her how she got the values and she was pretty defensive. She said she looked it up from a book both times I asked. It''s scary to keep asking, but I shall send her an email to ask! I mean.. what exactly did she look up on a book?! ^_^;;; She''s so unhelpful!

 

[neatfreak]

You have a right to know. She probably looked it up in the Rapaport (sp?) Price book, which some dealers are pretty protective of. But as an appraiser, she really should be able to explain how she valued it and justify it.

Why don''t you give Richard a call and see if he can point you in the right direction before you call her?

 

[wishinpink]

Date: 10/13/2008 2:10:58 PM
Author: neatfreak
You have a right to know. She probably looked it up in the Rapaport (sp?) Price book, which some dealers are pretty protective of. But as an appraiser, she really should be able to explain how she valued it and justify it.

Why don''t you give Richard a call and see if he can point you in the right direction before you call her?

haha, I hate to trouble people, and Richard''s already been more than nice. I sent the appraiser lady an email, and I hope she responds and answers it! If not, I shall call her again ^_^;;

 

[strmrdr]

Date: 10/13/2008 2:02:38 PM
Author: neatfreak
No...it's not a H&A round so why would it be any more correct to value it like that than with a radiant? It should be valued as a Regent.

Actually round rap+ a bit is about right.
The regent brand carried a premium.
The 2 available are in the same range as GIA VG to lower end GIA EX rounds.
The appraiser is in such a rush she isn't doing her job right and coming up with a good comp. on a rare stone as well as messing up the paperwork.

 

[wishinpink]

Hi everyone- more interesting developments have come along!!!

I told the appraiser that the value she assigned to my diamond might be a bit off since the price she put on it originally (around $4500) was less than the diamond was originally purchased for in 2005 and with that money I wouldn''t be able to buy the same diamond back technically.

She did some research, and sent me back the document.. and now apparently my diamond is worth around $7715....

THAT IS A HUGE PRICE DIFFERENCE!!!

The thing is, I don''t think my diamond is actually worth that much!!! GOG had it on sale on their website for around $5500 just before I bought it.

What is going on?! I just want an accurate appraisal of the replacement value of my diamond. I don''t want to overpay for insurance and I don''t want to not get something comparable back!!

Does anyone know what is going on?!

 

[CharmyPoo]

Something doesn''t sit right with me. Your appraiser seems to pull numbers and alphabets out of thin air. I personally won''t trust the appraisal and will get another one. Why don''t you take Rich up on his offer?

 

[wishinpink]

Date: 10/17/2008 3:07:04 PM
Author: CharmyPoo
Something doesn''t sit right with me. Your appraiser seems to pull numbers and alphabets out of thin air. I personally won''t trust the appraisal and will get another one. Why don''t you take Rich up on his offer?

Well, Rich''s offer was to verify the clarity of the diamond for me, but the appraiser has already told me that the diamond is indeed a VS2. I did visit another appraiser in my local jewelry store, and they said it''s most likely borderline VS2-SI1. So at least that part is confirmed.

The next issue I had was just that the price she appraised my diamond for, I wouldnt'' be able to buy it back. But now, I am concerned again because with her new pricing, the insurance is going to be CRAZY, and this was way more than I paid for my diamond!

I emailed her asking what was going on and this is what she said-

"We value items based on purchase from a retail vendor. I finally located the gentleman who originally patented the cut and he told me how to price the stone. Because there are so few out there, chances of finding another one would be difficult and a retailer would be better able to go to the trouble to find a similar stone than an on-line vendor. That is why I valued it so high. Janet"


Keep in mind, the new price she quoted my diamond at is, basically $2000 higher than if I were just to buy the exact same diamond from GOG today! It doesn''t make sense to me!

 

[oobiecoo]

Your appraiser sounds like she just wants to be rid of you and is pulling random numbers, etc out of the air like Charmypoo said. I would send it elsewhere to get a second opinion. If they vary GREATLY, could you ask the lady for a refund on the original appraisal(s)?

 

[strmrdr]

Date: 10/17/2008 3:18:06 PM
Author: wishinpink

Date: 10/17/2008 3:07:04 PM

Author: CharmyPoo

Something doesn''t sit right with me. Your appraiser seems to pull numbers and alphabets out of thin air. I personally won''t trust the appraisal and will get another one. Why don''t you take Rich up on his offer?

Well, Rich''s offer was to verify the clarity of the diamond for me, but the appraiser has already told me that the diamond is indeed a VS2. I did visit another appraiser in my local jewelry store, and they said it''s most likely borderline VS2-SI1. So at least that part is confirmed.


The next issue I had was just that the price she appraised my diamond for, I wouldnt'' be able to buy it back. But now, I am concerned again because with her new pricing, the insurance is going to be CRAZY, and this was way more than I paid for my diamond!


I emailed her asking what was going on and this is what she said-


''We value items based on purchase from a retail vendor. I finally located the gentleman who originally patented the cut and he told me how to price the stone. Because there are so few out there, chances of finding another one would be difficult and a retailer would be better able to go to the trouble to find a similar stone than an on-line vendor. That is why I valued it so high. Janet''



Keep in mind, the new price she quoted my diamond at is, basically $2000 higher than if I were just to buy the exact same diamond from GOG today! It doesn''t make sense to me!

Ok she is getting there that is about right for a retail appraisal.
Ask for a high internet appraisal value which should be around 6k with the difference in markup.
She did her homework finally, it just isn''t priced in your preferred market.

 

[motownmama]

mind my asking how much you paid for this appraisal? It does seem a bit goofy with all the mistakes and changes. I''m just glad you like your stone.

 

[wishinpink]

Date: 10/17/2008 3:49:03 PM
Author: strmrdr


Ok she is getting there that is about right for a retail appraisal.
Ask for a high internet appraisal value which should be around 6k with the difference in markup.
She did her homework finally, it just isn''t priced in your preferred market.

Oh good. I trust your advice, I will tell her that. Does this "high internet appraisal value" work for insurance? I''m mainly getting this appraisal for insurance purposes...