Post # 1
Where and how do you go about finding a GOOD appraiser for your ering? My jeweler says she’ll have it appraised at her shop for free (which I’ll probably take her up on because it’s FREE) but I’m also pretty sure I should get it appraised elsewhere due to the obvious factor of her being biased so her appraiser is probably also going to be biased.
For insurance purposes, do you have to have the ring appraised at an independent appraiser’s? Do they have you choose from a list? I don’t know anything about this step so if any of you bees would like to share words of wisdom they would be greatly appreciated!
Post # 3
My insurance company only wanted to be sure that my appraisal was performed by a GIA-certified gemologist. You can usually find on online in your area or on Angie’s List…
You’re right about not having your ring appraised from the jeweler you purchased it from…since I just have a feeling you may get a biased review.
Post # 4
@soontobemrsm11: We had our jeweler appraise our ring for insurance puposes as well.. Insurance had no issue with it. I never really thought about the bias from the jeweler that made the ring, though. Interesting thought..
Post # 5
@kc627: I was thinking about that as well. If the insurance company will take the jeweler’s appraisal with no problems, then maybe it IS a good idea to have it done & submit THAT one to the insurance company (esp since I have a feeling we overpaid a bit and that appraisal will probably reflect higher)….but since I don’t know how it works, I don’t know if that’s a good thing. I don’t want to have to pay MORE for insurance if the ring isn’t worth as much as the jeweler’s appraiser says it is but then if I get it appraised elsewhere & they say it’s worth less, won’t the insurance COVER less as well?
@JaneyDcat: how did you go about finding a good one? I do have Angie’s List as of now so that’s a good idea (although I don’t think I’ll have them for much longer, I didn’t find the price worth the 2 or 3 times I used it)
Post # 6
@soontobemrsm11: I believe that’s how it works… I’m not 100% sure. In the long run, though, personally I’d rather pay a little bit more to insure the ring for 100% of what it’s worth rather than less and end up paying out of pocket. I guess I’m a little cautious but I’d much rather over protect something than under protect.
Post # 7
@kc627: very true! Does the insurance company give you the funds to go get your ring made elsewhere? Do they pay to have it made somewhere themselves (mine is custom)?
Post # 8
@soontobemrsm11: We used Perfect Circle Insurance (Part of Jeweler’s Mutual) and if I remember correctly, you don’t have to go back to the original jeweler. It might be easier that way but I think the insurance company just requires the jeweler be approved, or something, but I don’t think they just give you cash. Some policies might. I haven’t looked at my policy in a while.. Maybe I should, haha.
Post # 9
Our jeweler has an independent appraiser in the store once a month. We needed an appraisal for insurance, so I took the ring to him when he was there. Had to pay for it (of course) but it appraised for $2,000 more than we paid. Score!
Post # 10
@Mrs Canuck: I have no idea if my jeweler’s appraiser is “independent” or not….he probably is but how do you know they’re really “independent”?
nice job on the ring though!! I’ll seriously be thrilled if it’s appraised at what we’re paying. we’ve basically had to get the ring made twice so we’re paying more than it’s worth, I’m almost certain. but it was worth it to me to get the ring I actually WANT & not some crappy ring so oh well.
Post # 11
I’m having my ring appraised later today. I found him through Yelp, which I love, so you can read other peoples reviews and find out if he’s a GIA certified gemologist before you even call 🙂
It’s $225 which seems kind of spendy to me but he’s one of only 2 GIA certified gemologists in the area and the other is like an hour away.
Post # 12
I think if you go on pricescope.com you can find names/addresses of appraisers in your area.
Try this link:
Post # 13
@funkybutton: I’m sure it’s worth the money! From the few quick searches I’ve done, appraisals are more expensive than I expected =/ But getting a good one is important in my opinion. I don’t want them to switch out stones or some sketchy shit!
Post # 14
We took it to a well-known gemological laboratory/appraiser.
Post # 15
Well from what I understand…
It is like many other Professionals… you take a bunch of courses, get various Certificates… and eventually they add up to be enough to earn an Official Diploma
There is a Code of Ethics, and the industry is monitored
(In that Insurance Fraud, of any time, is HUGE)
So even tho, a Jeweller may have a trusted Appraiser they work with often (remember it is also in the Jewellery Store’s best interest to not cheat you either)… it doesn’t mean that the these two (the Jewellery Store / Goldsmith and the Appraiser are in cohoots).
In my case…
My first marriage (circa 1980) our Rings were bought at Peoples (aka Zales in the USA). They had a GIA Certificate when I bought them. And Peoples had / still has a policy where if you trade in your Rings later for a more expensive Diamond Purchase, they’ll count whatever you paid for the item (with your Original Receipt) as a Credit… so essentially a NO LOSS Guarantee.
This time round…
My ERing came from a longstanding Family Run Jewellery Store… it is a semi-custom setting, came with its Canadian Diamond Certification. After purchase was appraised by a local Independent GIA Certified Gemologist / Appraiser. It came back valued at aprox 33% more than we paid for it. So I was quite pleased.
My Sparkly WBand came from Peoples, and came complete with the GIA Certification (and the Canadian Diamond Certification as well). This Chain Jewellery Store Certification is only slightly above the amount that we actually paid for the ring, about 10% … but it does come with that eternal promise by Peoples that we can always trade-it-in for a higher priced Diamond item.
Hope this helps,