What HAPPENED?!

[wishinpink]

Date: 10/17/2008 3:52:38 PM
Author: 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.

It was $95. I do like my stone though! At least the appraisal is turning out more and more correctly... ^_^;;

 

[strmrdr]

Date: 10/17/2008 3:58:52 PM
Author: 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...

yes as long as your going to replace it in the internet market.

 

[wishinpink]

Date: 10/17/2008 3:32:49 PM
Author: 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)?

I''m not sure about a refund... the lady sounds like she is trying to fix her mistakes, so I''d hate to do something like that... I mean, granted, she owes me to fix this report well, but she is doing work, so she should be paid. As for a second opinion- I am going to new york this weekend to bring this diamond to my boyfriend who is the one who purchased it. I don''t have time to make another appointment, and I''d hate to spend his money on another appraisal (we''re both students). I''d really just like this appraiser to get it right...afterall that''s what I paid for?


Thank you for your suggestion though oobiecoo!

 

[wishinpink]

Date: 10/17/2008 4:01:55 PM
Author: strmrdr

Date: 10/17/2008 3:58:52 PM
Author: 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...

yes as long as your going to replace it in the internet market.

Is this something you would recommend? Does getting an internet appraisal value that's lower make my insurance premiums lower? Also, what about GOG? It has a retail store and an internet store?

 

[wishinpink]

By the way strmrdr, I thought I would let you know- you were right about the H&A comparable pricing!!!! The appraiser said the regent is valued the same as a H & A ideal cut~!

You sure know your stuff

 

[strmrdr]

Date: 10/17/2008 4:03:31 PM
Author: wishinpink

Date: 10/17/2008 4:01:55 PM

Author: strmrdr

Date: 10/17/2008 3:58:52 PM

Author: 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...

yes as long as your going to replace it in the internet market.

Is this something you would recommend?

I would work with GOG on a replacement so yes.
It is likely you would have to replace it with a jubilee or other high performance square as they aren''t being cut anymore and the old stock was recut.
Maybe she should call Jon and talk to him about replacement options and value.

 

[strmrdr]

Date: 10/17/2008 4:04:56 PM
Author: wishinpink
By the way strmrdr, I thought I would let you know- you were right about the H&A comparable pricing!!!! The appraiser said the regent is valued the same as a H & A ideal cut~!


You sure know your stuff

This is not rocket science I don''t see why she is having such a hard time with it.

 

[wishinpink]

I am going crazy!

She sent me a new report after I mentioned all of storm's concerns to her, and some of my own.


Now it is appraised for $5500 for it's approximate retail value which I think is a good and correct value for the diamond. The question I'm starting to wonder is... is she throwing out random numbers now to please me or did she actually research!?

The reason why I'm so suspicious is... she even mispelled the number "ninety" on the report. Looks like she typed it up in a hurry!!!

Also, between report number 2 and 3... the only difference is the price number.... She didn't write internet replacement retail appraisal or anything like that... it still says retail value.....

Do I need to be concerned with this?!

 

[strmrdr]

Date: 10/17/2008 5:01:36 PM
Author: wishinpink
I am going crazy!


She sent me a new report after I mentioned all of storm''s concerns to her, and some of my own.



Now it is appraised for $5500 for it''s approximate retail value which I think is a good and correct value for the diamond. The question I''m starting to wonder is... is she throwing out random numbers now to please me or did she actually research!?


The reason why I''m so suspicious is... she even mispelled the number ''ninety'' on the report. Looks like she typed it up in a hurry!!!


Also, between report number 2 and 3... the only difference is the price number.... She didn''t write internet replacement retail appraisal or anything like that... it still says retail value.....


Do I need to be concerned with this?!

ugh!

 

[Rhea]

I''d be concerned. She''s fixed the report three times, all times to what you wanted without seeming to do any research. I know money is tight but for peace of mind I''d get a second opinion.

 

[strmrdr]

It is proper to name the market she priced it in but I spose it don''t really matter.
The question of is $5500 the right value is a much harder one to answer.
If her 7700 was right then 5500 isn''t because the markup is not that different.

 

[wishinpink]

Date: 10/17/2008 5:12:39 PM
Author: strmrdr
It is proper to name the market she priced it in but I spose it don''t really matter.
The question of is $5500 the right value is a much harder one to answer.
If her 7700 was right then 5500 isn''t because the markup is not that different.

How do I know which one is right? ^_^;;;;;;; I''m so confused!

 

[wishinpink]

Date: 10/17/2008 5:12:39 PM
Author: strmrdr
It is proper to name the market she priced it in but I spose it don''t really matter.
The question of is $5500 the right value is a much harder one to answer.
If her 7700 was right then 5500 isn''t because the markup is not that different.

The only reason I thought $5500 might be right is because that''s how much GOG was charging for the diamond. On the other hand... what on earth is going on? ^_^;;

 

[wishinpink]

Can someone give me advice as to what to tell her to do? I'm sooooooooooo confused at this point. What IS this diamond worth and how should she be valuing it?

I just want the number to be correct!


If this were your appraiser.. what would you tell them to do?

 

[CharmyPoo]

If I was in your situation, I would just say goodbye to the appraiser. I personally have no faith in any of her work. Appraising gemstones require great accuracy and attention to detail. This woman obviously lacks both of these skills - how can you trust that she appraised your diamond accrurately? It feels like she is just telling you whatever you want to hear. She doesn't seem to stand behind her assessment. I guess the question is if you care for a real assessment or you just want something that can be used for insurance purposes? If it is the latter, just tell her whatever number you want to change it to - she seems to be willing to do that.

When I pointed out discrepencies in my report, my appraiser was able to explain it and stood by his work. That gives me comfort that he has confidence in what he does. We did pay more thab double of what you did.

 

[wishinpink]

Date: 10/17/2008 5:34:49 PM
Author: CharmyPoo
If I was in your situation, I would just say goodbye to the appraiser. I personally have no faith in any of her work. Appraising gemstones require great accuracy and attention to detail. This woman obviously lacks both of these skills - how can you trust that she appraised your diamond accrurately? It feels like she is just telling you whatever you want to hear. She doesn''t seem to stand behind her assessment. I guess the question is if you care for a real assessment or you just want something that can be used for insurance purposes? If it is the latter, just tell her whatever number you want to change it to - she seems to be willing to do that.

When I pointed out discrepencies in my report, my appraiser was able to explain it and stood by his work. That gives me comfort that he has confidence in what he does. We did pay more thab double of what you did.

Lol.. why did I have the luck of running into the worst appraiser in the world for my first appraisal?! ^_^;;

 

[wishinpink]

I was right! She really did just throw the retail value I mentioned on the report!! I emailed her again, and asked her.-Where did your numbers come from, I want a refund if all this is not adequately explained to me.

this is what she said-
"I am going to prepare another report which you will not get before you go on your trip. In that report I am going to list both values so that you and your insurance agent can negotiate which value you want to pay premiums on. I will list the value of the last complete report sent to you for full retail replacement value according to the cutting factory and the internet value which you said was the source you would use again. "

I''m starting to get a little mad again... She has already "prepared" 5 reports for me now....

 

[strmrdr]

Date: 10/17/2008 5:24:16 PM
Author: wishinpink
Can someone give me advice as to what to tell her to do? I''m sooooooooooo confused at this point. What IS this diamond worth and how should she be valuing it?


I just want the number to be correct!



If this were your appraiser.. what would you tell them to do?

I would say give me my money back and send the diamond to Richard or Neil.
This is getting ridicules.
It should not be this hard and you should not have to ask people on the internet to do the job she is being paid for.
I can give you a value I think is about right but it does not help you because what you need is a value on a legal document that is defensible by a trained person who the court would accept as an expert.
Anyone with some research can come up with a number but making sure its a number that is:
1: defensible
2: accurate that your not under covered and accurate that your not overpaying for coverage.
Is much harder.

 

[wishinpink]

Date: 10/17/2008 6:10:53 PM
Author: strmrdr

Date: 10/17/2008 5:24:16 PM
Author: wishinpink
Can someone give me advice as to what to tell her to do? I''m sooooooooooo confused at this point. What IS this diamond worth and how should she be valuing it?


I just want the number to be correct!



If this were your appraiser.. what would you tell them to do?

I would say give me my money back and send the diamond to Richard or Neil.
This is getting ridicules.
It should not be this hard and you should not have to ask people on the internet to do the job she is being paid for.
I can give you a value I think is about right but it does not help you because what you need is a value on a legal document that is defensible by a trained person who the court would accept as an expert.
Anyone with some research can come up with a number but making sure its a number that is:
1: defensible
2: accurate that your not under covered and accurate that your not overpaying for coverage.
Is much harder.

Do you really think she would give me my money back?

Was the $7700 number accurate? ^_^;; I mean.. she did supposedly call the people...?

Will I run into the same trouble with other appraisers? Do they know the value of regent cut diamonds?

This person would supposedly be accepted as an expert right? I mean she has all these certifications and what not....

 

[Rhea]

I can''t answer all your questions, but rather than stress out about it, why not just send it to another highly recommended, trusted appraiser? I''m not sure anyone could do any worse than this woman is.

 

[strmrdr]

Date: 10/17/2008 6:27:46 PM
Author: wishinpink

Do you really think she would give me my money back? don''t know if she will but she should. Tell her that with all the changes and confusion that your not comfortable with the service she provided and would like a refund. Which is the truth.


Was the $7700 number accurate? ^_^;; I mean.. she did supposedly call the people...? I wouldn''t pay for $7700 worth of coverage on it.


Will I run into the same trouble with other appraisers? I feel Neil or Richard would do a better job. As would the other PS appraisers

Do they know the value of regent cut diamonds? I trust them to figure it out



This person would supposedly be accepted as an expert right? I mean she has all these certifications and what not.... yes she would likely be certified by the court to testify but that doesn''t mean she is right

 

[somehowcollide]

wishinpink you''ve practically written that appraisal yourself..

glad you have some knowledgeable people here on the forum helping you.

i don''t think you''ll ever be 100% satisfied with this appraisal. please ask for your money back and go to another appraiser! i don''t know anything about insurance pricing, but i assume any insurer would be wary of insuring a stone who''s appraisal has changed drastically on at least 5 occasions! that should be grounds for you stand on when you ask for a refund. (and it should scare you a bit into getting the stone re-appraised!)

good luck!

 

[arjunajane]

This is ludicrous.
Wishin, I know you''re concerned about spending more money, but getting a proper appraisal from someone who is qualified could save you that amount in premiums in just the first year, not to mention all this stress and confusion.
Strm is right, there is No Way it should be this hard, and she should not compromise her position so easily to just write whatever you say on the report. Imo she is either clueless, or as others have said is just writing whatever to get rid of you.
If I were you I would contact whatever source you used to find her to advise of these bungles aswell - I wouldn''t want future customers to have to go through this.

 

[wishinpink]

Hi everyone!

So here''s a question- should I get the diamond appraised again, or should I wait? I''m planning on getting the diamond into a setting within the week.

I plan on setting the diamond really soon, and getting the whole thing appraised again, since I actually want to insure the ring, and not the diamond itself.

Should I-
1. Reappraise diamond, insure diamond, then set, reappraise, insure ring.
2. Insure diamond (for a week), set, reappraise, insure ring.
3. Not insure diamond, get it set, reappraise, insure ring.
4. Not insure diamond, get it set, don''t insure the whole thing.


Even if I "insure" the diamond now, it''d only be about 1 week, since I plan on setting it soon. The main concern is damage done to the diamond while getting set I suppose. I checked jewelry mutual, and they refund premiums if cancelled within 30 days.

I can then get the ring reappraised and insure the ring?

What''s the best way to do this? I''m such a newbie =P

 

[strmrdr]

There is a specific procedure you have to follow to get JM to insure it during setting.
You have to have an appraisal written covering both the setting and ring, fax the info in, get the insurance, then have it set.
I would have a quick appraisal written covering the purchase price and the setting cost by the jeweler doing the setting, then have it set then have it appraised by Neil or Richard and use that value and information to modify your policy.
Discuss this with your JM rep.

 

[wishinpink]

Her newest correspondence to me-

"I am going to prepare another report which you will not get before you go on your trip. In that report I am going to list both values so that you and your insurance agent can negotiate which value you want to pay premiums on. I will list the value of the last complete report sent to you for full retail replacement value according to the cutting factory and the internet value which you said was the source you would use again.

I will try to get to this on Monday. Janet "

Let's just say... for real I'm mad now. All I asked was that she have this report done so I can bring it to my boyfriend along with the diamond when I visit this weekend. Now she is saying it won't be on time. My appointment was a WEEK ago!!!

Then she says she will "try" to get to this on Monday... you would think after a week of not getting it right, she'd do more than just try.



For those who are still following this sad thread, I have now sent her a pretty nasty email =P

"Janet,

The more I think about this sitation, the more displeased I am with the situation.

1. I do not want a report with two numbers on it. I want the best report you can provide, with the most detailed information you have, with what you deem to be the most accurate appraisal value for insurance on the report. I want this value you come up with to have sound reasoning backing where the number came from and how it was derived, and I want a value that will hold up in court should something happen to my diamond. If the $7715 number is the number you stand by, fine, but I want to know how exactly you came up with that value and why it is what it is, and why your value is not overinflated or undervalued.

2. I want you to express mail the documents to NY at this address, since I will not be getting them before I leave- I want them on Monday in NY. It has already been a week and you have had enough time to correct this situation. "Trying" to get to this on Monday is unacceptable.

xxxx xxxxx Road,
Bronx, NY 10461

3. If you cannot do either of these items, I need a refund so I can find an appraiser in NY who will do the job right. As the situation lies right now, I think you already owe me renumeration for my loss of time and your repeated mistakes. Unless these things are corrected and addressed, I simply cannot recommend your services to any of my acquaintances, and will not have a good review of my experience to offer to others.

I appreciate your prompt reply and attention to this matter."

 

[arjunajane]

Hmmm..not sure what to say, but I personally don''t have much time for people providing a service who can''t do it properly.
I probably would''ve done the same thing in your situation, although I won''t be surprised if you also get a negative reaction..
In response to your question above - yes,please get it reappraised by someone more qualified..

 

[diamondseeker2006]

I really don''t see the big deal. Use the $5500 value to insure the diamond now. You know that is correct since that is what the diamond sells for. If necessary, have Janet add the price of the setting if you are going with Jeweler''s Mutual. Then once it is set, use one of the appraisers here to do the final appraisal for insurance.

 

[wishinpink]

Date: 10/18/2008 10:11:46 AM
Author: diamondseeker2006
I really don''t see the big deal. Use the $5500 value to insure the diamond now. You know that is correct since that is what the diamond sells for. If necessary, have Janet add the price of the setting if you are going with Jeweler''s Mutual. Then once it is set, use one of the appraisers here to do the final appraisal for insurance.

I think I will do this...

 

[LGK]

Date: 10/18/2008 12:48:22 PM
Author: wishinpink

Date: 10/18/2008 10:11:46 AM

Author: diamondseeker2006

I really don''t see the big deal. Use the $5500 value to insure the diamond now. You know that is correct since that is what the diamond sells for. If necessary, have Janet add the price of the setting if you are going with Jeweler''s Mutual. Then once it is set, use one of the appraisers here to do the final appraisal for insurance.

I think I will do this...

That''s what I''d do, too.