(Closed) Appraisal cost vs. actual cost

posted 5 years ago in Rings
Post # 3
11270 posts
Sugar Beekeeper
  • Wedding: April 2012

@Queenjeanne:  appraisal costs are usually much higher than what people actually pay.  anywhere from 50%.  it certainly makes it look like the jewellery store is having a big sale.

Post # 5
36 posts
  • Wedding: December 2012


Appraisals are done for insurance purposes so that if something (God Forbid) happened to your ring, the insurance co could replace it with something similar.  The thing is, is that this may seem like you would perhaps get something as nice…or even better…however, that is not generally the case.  Usually, at least I hear from others’, that it is quite normally a downgrade.  Soooo….I think the appraisers somewhat exaggerate the value of the piece in question so that the owner does not get completely taken to the cleaners after an unfortunate circumstance occurs.

Post # 6
6355 posts
Bee Keeper

My insurance/replacement value appraisal (default type they give you if you don’t specify) was significantly higher than what we paid, and my fair market value appraisal (what it’s actually worth without retail costs right now) was significantly less.


That will almost always be the pattern.

Post # 7
360 posts
Helper bee
  • Wedding: March 2012

I think 50% is a little high, it’s more like 25-30% more than the retail value of the ring I’m pretty sure. But that is still significantly higher.  I will ask my mom and get back to you if this thread is till around. She is a certified appraiser and gemologist who works for a high end designer. 

Post # 8
1278 posts
Bumble bee
  • Wedding: March 2013

My ring appraised for $5500 and $2800 was actually spent

Post # 9
345 posts
Helper bee
  • Wedding: May 2014

Our insurance appraisal was 2.5 times what we actually paid for the ring.

However, all comparables at other stores had asking prices that were about the same as the insurance appraisal. It was the perfect mix of wanting a ring from a teeny tiny shop that they couldn’t seem to move (it was much more expensive than the majority of their inventory), good negotiating skills, and luck. 

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