Worried about my independent appraisal for insurance purposes--advice appreciated

[Kim N]

I recently got my first independent appraisal done on a loose diamond and setting. The diamond is a Whiteflash Expert Selection and beautiful. I''ll be getting Jewelers Mutual insurance, so it will be "like kind and quality" replacement. I''ve never gotten an independent appraisal done until now, and I''m worried that it might be missing some information that could help me get like kind and quality. I picked this appraiser because the person was pretty highly recommended on PS and was local to me. However, it seems as if this person might not provide the level of detailed information that I thought was typically included. I guess I''m also disappointed in the appraisal because the services cost more than the prices I''ve seen in PS threads, and yet the appraisal consisted of really only one page of actual appraisal and the rest of the packet was just the person''s credentials.

- The appraiser had an IdealScope, ASET viewer, and H&A viewer, but did not include any of these images in the appraisal. The appraiser provided only a written description of the "brilliance" and "light performance," as in "very good" or "excellent." Along that note, the appraiser noted that the brilliance of the diamond was only "Very Good" because of the little white specks of leakage around the edges of the diamond on the IdealScope image. From everything I''ve learned here, I always thought that those little white areas on the edge were okay and did not detract at all from the diamond''s performance.
- The appraisal doesn''t include the appraiser''s measurement of LGF% and stars info, but does include a copy of the AGS cert which has this. Would this be enough?
- The few photos of the diamond and setting that the appraiser included were small and not very good and do not show much detail at all.

Are these things--IS, ASET, H&A images, LGF and stars, good photos of the items--usually included in appraisals?

Can I submit all of Whiteflash''s images (Sarin report, ASET image, IdealScope image, 40x magnified image) along with the appraisal and have them all be considered in the case of replacement? If I submitted photos that I''ve taken, would those be considered?

I''d appreciate any advice!

 

[neatfreak]

Kim, you have plenty of info. JM will certainly take all of WF''s images as well and put them in your file, as well as your receipt from WF. I wouldn''t worry about it, I think you certainly have enough information, you just need to send JM absolutely everything you have and make sure it''s all scanned into your file.

 

[denverappraiser]

Hi Kim,

Ring up your appraiser and tell them you’re concerned. When it’s possible, I like to include all of these photos in the document sent to the insurers but not all do it the same way. Taking the pictures can be tricky and some appraisers haven’t gone through the trouble to learn how to do it even after they buy the viewers. If they don’t have the ability to take the images, mention that you have them from Whiteflash and they can insert those right into the document (along with the Sarin report and a scan of the lab report, both of which you can get from WF). Assuming that they aren’t disputing that it’s the correct stone, there should be no problem to include this information at your request. Every appraiser I know is using a computer to generate their reports so it should be a simple matter to do this revision.

I think your concern is valid by the way. More data is better and it’s almost never a bad thing precisely be it does a better job of defining exactly what you have. Even the insurers like it because it makes the claims process easier if this ever becomes an issue (although sometimes the agents are a little taken aback by it).

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

 

[Kim N]

Thank you, neatfreak and Neil! I appreciate your advice, and I'm going to ask my appraiser to include WF's images as well as submit my own for the file. Thanks!

 

[barnsiebear]

Hi Kim,

Just out of curiosity, do you live in the Bay Area in CA? Your description of your appraisal experience sounds very similar to mine, so I am guessing that we might have used the same one!

 

[Richard Sherwood]

Date: 10/11/2008 6:26:56 PM
Author:Kim N

Are these things--IS, ASET, H&A images, LGF and stars, good photos of the items--usually included in appraisals?

Not in most appraisals by most appraisers. Especially to capture good IS, ASET & H&A images requires quite a bit more work than is usually done on the average appraisal.

For example, I ended up developing two types of reports, the CDA (Comprehensive Diamond Analysis) and the ADA (Advanced Diamond Analysis). One for the average consumer who isn''t buying an ideal cut diamond and isn''t concerned about the "extras" (or wanting to pay for them), and a second report for the Pricescope type of customer who is, and doesn''t mind paying extra (usually $225 versus $125).

Just include the Whiteflash photos and reports along with your appraisal and you''ll be fine.