Whiteflash''s free verification

[star2323]

Whiteflash''s diamonds come with a free verification which includes the approximate retail value. Does this replace the need for an appraisal? Will this verification work for insurance purposes?

 

[strmrdr]

no , yes

 

[belle]

it depends on what you feel you need an appraisal for. personally, i feel that the grading document and independent appraisal are enough and don''t see any reason for another appraisal. you should contact your insurance company to see what their specific requirements are to insure. usually the appraisal included it adequate.

 

[noobie]

Date: 12/5/2005 8:29:05 PM
Author: strmrdr
no , yes

IMO, it depends, yes

If you are reasonably comfortable buying diamonds and WF, there is no reason why the independent verification is not sufficient. If you have spoken to Brian or Bob and have the details of the stone and an AGS cert, then I think it''s enough. You can also ask for a reasonable value on the verification.

For the diamond I bought, I had it independently appraised. They value was around the same. For the bracelet, I asked for a reasonable value (not high retail) and got a value I was happy with for insurance. No need for another appraisal.

It really depends on your own comfort level.

 

[mrssalvo]

i agree, it''s enough for insurance purposes but i''d want an independant appraisal too. When Richard Sherwood did mine appraisal he gave several values, the market value, the internet pricing value and one other. I had been paying premiums on a appraisal i had for $8000 when the replacement cost was a little over $5K. i could have saved myself the extra premiums if I''d had the appraisal done sooner rather than using the one that come when we bought my stone. Plus, Rich recently mentioned in another thread that though the vendors here are well trusted mistakes have been known to happy and it''s a great way to verify you''ve got the stone you bought.

 

[Richard Sherwood]

The point of purchase is the most critical time in the ownership of your diamond. The chances of there being a problem of some sort are greater then than at any other time. In that purchase "window" you have the ability to correct any problems. Once your right of return period expires, you own that diamond forever, problems or not.

An independent appraisal is a relatively inexpensive doublecheck which gives you peace of mind and an insurance document from a non-involved third party professional. Considering the amount of times I have caught mistakes, oversights, defects and omissions, I think an independent appraisal is a good idea.

It's like taking a car to a mechanic before purchasing. The car may look and sound great, but have a problem which only a professional picks up on.

I'll give you an example. I recently had two 1.5 rounds pulled in by a client (neither from Whiteflash), which she came in to look at. Both were expensive diamonds, graded "H" color by the same major lab. When I doublechecked the color, one looked noticeably darker, and indeed graded out as an "I" color, both visually and with the SAS2000 spectrophotometer. When held next to each other against a white background under diamond grading lights the client could consistently spot the difference.

The darker stone also had a medium green fluorescence which wasn't even mentioned on the lab report. Fluorescence was listed as "none".

In my opinion, a mistake was made in the lab's analysis of this stone. The difference in value because of this mistake translated to about $1,200. If the client had accepted this diamond without bothering to get an independent appraisal, she never would have known the difference, as the diamond looked great and came with extensive documentation.

A relatively inexpensive analysis (we didn't even bother doing a full appraisal on that stone) saved this client from making a $1200 mistake, which she might not have been aware of for decades otherwise.

 

[Modified Brilliant]

For the diamond I bought, I had it independently appraised. They value was around the same. For the bracelet, I asked for a reasonable value (not high retail) and got a value I was happy with for insurance. No need for another appraisal.
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Second opinion on valuation is important, however, verification of the diamond is of greater importance. Always make sure that all of your questions have been answered and that your lab document matches your diamond. Mistakes do happen especially during the very busy holiday season.

www.metrojewelryappraisers.com

 

[JohnQuixote]

Date: 12/5/2005 8:21:04 PM
Author:star2323

Whiteflash''s diamonds come with a free verification which includes the approximate retail value. Does this replace the need for an appraisal? Will this verification work for insurance purposes?

I often mention that the Whiteflash letter of verification is included as a courtesy, not as a substitute for a full appraisal of the kind offered by notable PS appraisers: The letter includes the basics of weight, color, clarity & laser inscriptions as well as setting details and an approximate retail value. It is performed by a Houston independent appraiser. It is suitable for insurance in most cases, which we hope will be helpful to our customers.

With our experts doing a pre-grade, the lab issuing the ''official'' grade and the verifying appraiser performing a further check we have done everything in our power to authenticate your purchase. There is still great security in hiring an expert of your own.