Hongerhond
Rough_Rock
- Joined
- Jan 28, 2003
- Messages
- 51
I would like to know what the point is of stating an appraised value for a diamond.
Say for instance I buy a diamond tomorrow from one of our reputable online dealers for $7,000, I have it appraised and it appraises for $10,000, what does that actually mean? That it is worth $10,000? No, because if I try to sell it, I would be very lucky to get even $5,000.
Does it mean that the replacement value is $10,000? No, because I can go back to my reputable online dealer tomorrow and pay $7,000 again for a similar stone.
Does it mean that there are some jewelery stores that would charge me $10,000 for the diamond? Probably yes, but so what?
What then does "appraised value" mean?
Say for instance I buy a diamond tomorrow from one of our reputable online dealers for $7,000, I have it appraised and it appraises for $10,000, what does that actually mean? That it is worth $10,000? No, because if I try to sell it, I would be very lucky to get even $5,000.
Does it mean that the replacement value is $10,000? No, because I can go back to my reputable online dealer tomorrow and pay $7,000 again for a similar stone.
Does it mean that there are some jewelery stores that would charge me $10,000 for the diamond? Probably yes, but so what?
What then does "appraised value" mean?