(Closed) Upset by appraisal?

posted 7 years ago in Rings
Post # 3
Member
3522 posts
Sugar bee
  • Wedding: December 2010

@Fallicious1012: I know it’s a bit of a letdown, but try not to get hung up on the numbers. They’re just numbers! Focus on the positives–you have a gorgeous ring and a fiance who loves you. 🙂

Post # 4
Member
3148 posts
Sugar bee
  • Wedding: February 2010

the value of my ring ended up being about 2/3 of what he paid for it.  I think he feels a bit foolish, but what’s most important to him is whether I like the ring. and really? the ring is priceless to me. 

Post # 5
Member
3618 posts
Sugar bee
  • Wedding: November 2011

You could always try taking it to someone else to have appraised.

Post # 6
Member
786 posts
Busy bee
  • Wedding: December 2014

I have mixed feelings about that. My fiance did a crazy amount of research before buying my ring and ended up buying from James Allen instead of going to a brick and mortar store. We wanted to make sure we got the most bang for our buck and it ended up appraising for 10,000.00 more than what he bought it for. On one hand, if he had gone to a brick and mortar store and paid more for it and it didn’t appraise for what he paid for it, I would be upset because we could have really used the money. But on the other hand, I would love it no matter what because of the sentimental value. I guess if you feel that the sentimental value outweighs the potential savings (i.e. having 1000 extra in the bank), then there is no reason to think about it further. But if having the money in the bank (or getting a bigger stone for your money) is more important, then perhaps you should explore options for returning it and going somewhere else (assuming you are able to return it).

Post # 7
Member
6661 posts
Bee Keeper
  • Wedding: May 2010

Honestly I think the only downside is that if the ring is lost or stolen you are essentially only getting back a fraction of what you paid for it. Otherwise, the appraisal is just a number and I think any e-ring is totally priceless.

Post # 8
Member
2697 posts
Sugar bee
  • Wedding: June 2012

Well, the appraisal is always going to be less than what you’ve paid for it, itsn’t it? Otherwise, the jeweler wouldn’t make any money! No big deal, its priceless.

Post # 9
Member
893 posts
Busy bee
  • Wedding: May 2013

@Fallicious1012:  First of all, sorry to hear that.  It’s understandable if it’s upsetting.

Last, is your diamond GIA certified, or EGL certified?  Both grading systems vary from each other.  That could be a possibility of why it was appraised differently.

Post # 10
Member
14496 posts
Honey Beekeeper
  • Wedding: June 2011

Depending on the stats on the center stone, it sounds like you did pay a fair price (based on a quick bluenile search for a 1.03 stone).  It probably wasnt a steal of a deal, but I dont think you got crazy ripped off by any means either.   Also, prices go up exponentially as you go over a carat, so you probably wouldnt have gotten much noticible size diff with a few hundred or 1k more.  Dont worry about it now anyways.. just stare at your pretty ring  🙂

Post # 11
Member
3618 posts
Sugar bee
  • Wedding: November 2011

@Roe: You want to pay less than what it is appraised for. It’s like buying a car, you don’t want to pay sticker (or retail price) for it. Don’t worry, the jewelery store still makes money off you because they buy at wholesale and sell for retail, just like a car…

Post # 12
Member
893 posts
Busy bee
  • Wedding: May 2013

@Roe:  Sorry, but I’m confused on what you’re trying to say.  Can you please elaborate?

I don’t think independent appraisals will always appraise it lower; otherwise, it defeats the purpose of their job.  You hire them to professionally inspect the diamond’s true value so the appraised amount can be lower, higher or even the same amount.

Post # 14
Member
893 posts
Busy bee
  • Wedding: May 2013

@Fallicious1012:  Do you know if it’s EGL-US or EGL-Europe?  My appraiser also said that makes a huge difference too.

In any case, there can be several reasons on what happened but as @pinkshoes: says, just look at your pretty ring. Smile

Post # 15
Member
2589 posts
Sugar bee
  • Wedding: September 2012

Those places that say “your diamond will appraise for double” are a marketing gimick – they’ll appraise it for double, but you won’t get that anywhere else. 

So just let that 10k number slide out of your brain.  A thousand dollar difference can vary based on who’s looking at it – mine was appraised at 6500 by one guy, and 5800 by another guy.  So the 5500 and 4500 are both within reason.

Post # 16
Member
14496 posts
Honey Beekeeper
  • Wedding: June 2011

@Fallicious1012: oh dont worry.  with a quick pricescope search, Solomon Bros had the best price at 4k with close to those specs EGL cert.  Bluenile and James Allen both were priced at 5100, but GIA certified.  I honestly think you got a pretty good price at 5500 for the ring since the setting is easily 1000-1500.

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