what would you do... appraise or no?

[Pupper]

hi all! i just purchased a diamond from a jeweler that I totally trust (GIA grad, worked in the biz for yrs, good guy, etc) and i know my way around a diamond

he''s setting the diamond for me & still has the stone. i''m not sure yet if i''m going to insure it (it''s not a huge stone & i live in a big city so it''s expensive to appraise & insure).

so this is my Q: would you ask for the diamond in order to have it appraised before it''s set (by an acutal appraiser)? -or should i just trust his eyes & mine to say it is what the GIA cert says it is (and get the setting started)? btw, he''s doing an appraisal on the finished product for the actual cost of the stone/setting gratis...

many thanks for your expert opinions!!

 

[denverappraiser]

Jeweler supplied documentation is often sufficient for insurance requirements. The key is to read the description and inspect the photographs and ask yourself this question: “Is this sufficient information to allow my insurance company to replace this item to my satisfaction in the case of a loss?” Put another way: “If my insurer replaces with the least expensive item they can find that matches this description, am I likely to be satisfied with what I get?”

If the ‘appraisal’ meets the above test it will be sufficient for your insurance requirements and if insurance is your only reason for seeking an outside appraisal then no, you don’t need to hire an independent appraiser.

If you are 100% confident in your own skills and the skills advice of your selling jeweler, you don’t gain much by a 3rd party exam prior to setting unless it’s necessary for collection of data that will be useful in the appraisal after it’s done and for replacement if needed and the jeweler or their suppliers can't do it. This can include things like Sarin scans, hearts images and similar types of documentation that require a stone to be unmounted at the time. Idealscope and ASET images are easier and more accurate if they are taken before the stone is set and photomicrographs of a lot of things are quite a bit easier with unmounted stones. It’s not a problem to have the selling jeweler do this sort of thing and if they’ll do it for ‘free’, by all means take them up on it.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Jewelry Appraisals in Denver

 

[Pupper]

thank you very much Neil!!

that''s very helpful, thank you for chiming in!!