Post # 1
I don’t know if this has been posted before but I was wondering where can you get your ring appraised for insurance purposes? Also, how much for the certification?
[Background] When we picked up our ring, our jeweler had their own appraisal certificate included; however, we would like a second opinion just to be safe. We fear that it could be over-appraised. And recently, a g/f of mine showed me the grading system used by EGL vs. GIA. We have an EGL certification and I read that it’s more lenient. I would just like to make sure that the amount we’re going to insure it for is the right amount.
Post # 3
Our insurer had a recommendation, but you should be able to find an independent appraiser in your area with a quick google search (or maybe calling around to jewelry stores)?
My one condition was that I didn’t want to send my ring away to get appraised. I was way more comfortable with dropping it off in person.
ETA: Also, over-appraisal means a slightly higher insurance premium, but our rider policy premium is relatively low – something like 35 dollars a year. It might not be a bad thing.
Post # 4
Some jewelry stores have in-house appraisers certified through GIA, etc. Some send the rings out for appraisals. We originally had an EGL appraisal but got a GIA one to verify the EGL. Our appraiser told us the same thing. EGL isn’t incredibly consitent with grading and sometimes can be very lenient. Luckily, GIA appraised us $500 more than EGL had. Good luck!
Post # 5
I believe a written appraisal can cost anywhere from $75 to $200. After we got my upgrade, I thought we should have a second one done. I took my ring over to the jeweler located in my office building, I told him what I was looking for and he asked me to come back the next day with a copy of the appraisal. He looked my ring and looked at the paper and told me everything looked accurate and not to waste my money on another appraisal.
The insurance appraisal is not set in stone. You can have your ring reappraised at anytime and submit it to your insurance. I figure we will have it done again in a few years.
Post # 6
I found my appraiser (has his own jewelry shop too) through yelp and picked the one with the most and best reviews. I think he only charged me $35 each for my e-ring and wedding band.
Post # 7
We had our ring custom made by a jeweler and the appraisal she gave us had it worth almost 10K more than we paid. We knew there was no way this was possible so we took it to The Jewelry Judge in Houston. The appraisal was a little over $200 but it was so much information and I feel I know a lot more about my ring. The final value was half way between what we paid and what the jeweler had originally said it was worth so we were still happy!
I would recommend getting your ring appraised before you insure it, you don’t want to pay an unnecessary premium if you don’t have to.
Post # 8
We called our Farmer’s agent. We already have renter’s insurance, life insurance, and both cars on our policy, and our agent is awesome, so he was our first call. He priced it out for us, but told us we could probably get better pricing through Jeweler’s Mutual(?). They did, so that’s who we went through.
Post # 9
After reading a lot of blogs about jewelry insurance and appraisals, I found a place who is an independent jewelry appraisal. They don’t buy or sell jewelry and a gemologist who only do appraisals. I read on The Knot that this is preferred so they can be unbiased. I found this place through the ASA website (American Society of Appraiser). They do the tests right in front of you so you have your eye on your ring the entire time. They also walk you through and explain everything. Last, you’ll get a price range depending on the different certification you have (GIA vs. EGL). This is given because the jewelry market is subjective (ie. buying from a jewelry district vs. Beverly Hills). I’ll be getting a written report in 3-5 business days with an appraised amount. Overall, I was happy with my experience.
Post # 10
We imported my ring from Israel and it had an appraisal certificate with it too, but just to be sure i got what i paid for, i am taking it to be appraised at my local jewellers today.
He will do a free appraisal , not written, but just a verbal one for if i am purely just interested in how much its worth, but if i want a written appraisal for insurance purposes etc, i will have to pay for that.
IF it appraises for more than i bouht it for, i WILL ask for a written appraisal, but if its more or less the same as the certificate i have got already, theres really no point in paying for another one thats going to say the same.
Post # 11
i have just emailed the seller, because i took it to the local jewellers and he appraised it…..
he toldme the stone was in fact .45ct……….i ordered .60ct
and that it was a I1 when i ordered a VSI1-2,
he could see ‘sugar’ with his naked eye, although i could not.
i AM happy with my ring, but i am angry that i paid for one thing and got a lesser value. i have emailed the seller and asked what he is prepared to do about it, ie…..send me a bigger diamond, or send me some cash back, i really dont care because i love the ring, but i dont like to think i have been robbed…..
MIND YOU…….having said all that, it DID appraise for double what we paid for it….
we paid £380 and the appraisal states £750-£850 , so it cant be so bad can it?
Post # 12
@Vintage-me:we had the SAME issue when we ordered my ring…it appraised for more then what we bought it at..but less then what the appraisal that came with the ring..Also my “E” side diamonds are really a “G”so i was very unhappy- but in the end i decided to keep it as well since i do LOVE the ring..and he gave us $ money back as long as offered a discount on the matching band- which we will NOT be getting from him.
Post # 13
He has paid me £78 ( $120) back into my PAYPAL account, which i am happy with, this means the ring cost me £300 and for a .45 its definatly worth that ….the £78 refund will almost pay for the wedding band i have my eye on. i am happier now, even though its a smaller ring, i dont feel robbed becasue the cost was less.