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Appraisal Cost


JSM
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I plan on purchasing a loose princess cut diamond from an online vendor. I was just wondering what the cost of getting the diamond appraised/evaluated would be?

 

I am sure that it depends on many variables so I'll try to give as much info as possible. Basically, I would want the appraiser to make sure that what I got was what the dealer told me it was. Since I will likely spend a fair amount on the diamond (between $8000-$9000) I would like to have an independant appraiser do it that has reputable credentials.

 

Any help would be appreciated. Thanks!

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I plan on purchasing a loose princess cut diamond from an online vendor. I was just wondering what the cost of getting the diamond appraised/evaluated would be?

 

I am sure that it depends on many variables so I'll try to give as much info as possible. Basically, I would want the appraiser to make sure that what I got was what the dealer told me it was. Since I will likely spend a fair amount on the diamond (between $8000-$9000) I would like to have an independant appraiser do it that has reputable credentials.

 

Any help would be appreciated. Thanks!

 

First of all, be sure you're choosing an appraiser who is independent (does not sell diamonds or jewelry) and will provide you with all of the information you're seeking. A simple verification of carat weight, color, clarity and finish is different than an educational appraisal that will fully cover aspects of cut measurements, photos, light performance evaluation, etc. In fact, many online sellers provide more information than a lot of appraisers do - and there are vast differences in appraiser qualifications, equipment used and price structure.

 

Neil Beaty is an appraiser who posts here. He is highly qualified (one of only 13 ICGAs in the world) and, based on what I've observed, he delivers a very robust and educational document for a modest price. If you are not local to Denver and wish to have the appraisal done where you can observe it perhaps Neil or someone else here will provide a local recommendation.

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Some consumers prefer to have the Independent Appraisal done in front of them.

 

Google the National Association of Jewelry Appraisers (NAJA) and The Jewelry Judge to find Independent Appraisers in your hometown. Another option for you.

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Thanks for the nice comments John.

 

JSM,

 

For most new purchase evaluations, I charge $85 for while-you-wait and while-you-watch type service. I charge an additional $35 to receive outside shipments and for out of town clients insured return shipping usually comes to about $30 so the total fees range from $85 to $150 depending on how the logistics come about. There are plenty who are less expensive than I and a few who are a bit more but none who are better. In high cost towns like NYC and London the prices for good service tend to be a bit higher than they are in smaller communities.

 

Most appraisers work for or even own jewelry stores, auctions houses and similar related businesses, including most who describe themselves or their services as ‘independent’. Make sure to ask because not everyone uses this term in the same way. In many cases this is just fine but for the type of assignment you're discussing, I agree that you're far better off with someone who doesn't sell jewelry. NAJA (of which I’m proud to be a member by the way) is at least 95% dealers.

 

Here’s a few referral sources for appraisers.

www.najaappraisers.com

www.appraisers.org

www.isa-appraisers.org

www.americangemsociety.org

 

Neil

Edited by denverappraiser
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Some consumers prefer to have the Independent Appraisal done in front of them.

 

Google the National Association of Jewelry Appraisers (NAJA) and The Jewelry Judge to find Independent Appraisers in your hometown. Another option for you.

 

 

Should you get an appraisal even if the diamond came with GIA certification and is lazer inscribed with that number?

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Some consumers prefer to have the Independent Appraisal done in front of them.

 

Google the National Association of Jewelry Appraisers (NAJA) and The Jewelry Judge to find Independent Appraisers in your hometown. Another option for you.

 

 

Should you get an appraisal even if the diamond came with GIA certification and is lazer inscribed with that number?

 

 

I would ask Neil.

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Should you get an appraisal even if the diamond came with GIA certification and is lazer inscribed with that number?

 

There are a variety of reasons that people seek out appraisals on new purchases and whether it’s useful to you will depend on your objectives.

 

1) Shopping information. If you’ve been lurking here for a while you surely have discovered that there is more to diamonds than appears on a lab report, that all labs are not the same and that not all gemologists agree with the opinions presented. Some dealers will provide the whole story while others will provide little more than a scan or a few bits of information of a report about a stone that they’ve never even seen. If you’re comfortable after your sales presentation that you’ve learned all that you need to know and that nothing of importance was omitted then you don’t need to hire an expert. If you’re still in doubt, you should consider hiring your own pro to assist

 

2) Most diamond customers are really buying a ring or some other piece of jewelry for which the diamond is only a component, not just a diamond. This can lead to problems with damage to the stone after the lab inspects it, security of the setting, craftsmanship issues on the mounting itself and details involving other stones on the piece that may not have lab grading. As with the above, this sort of question will depend on what the jeweler has told you, how credible a source you consider them to be and your own expertise at these issues.

 

3) Most jewelry buyers also end up buying an insurance policy to cover their new purchase. This policy will cost anywhere from 1%-3% of the declared value every year so the cost of the policy can actually end up being more than the cost of the jewelry over time. Most policies involve the company agreeing to replace a lost item with another of ‘like kind and quality’ in the case of a covered loss. This means the description included in the appraisal. If there is anything that you consider important about your diamond or ring that isn’t included in the paperwork given to you by your jeweler, you should consider getting your own appraisal. Also, if your declared value is unreasonably high, you should consider having it reappraised. The insurance company will buy the least expensive item they can find that meets the ‘like kind and quality’ description. Premiums paid for coverage above and beyond that are lost money because there are no circumstances where you will get to collect and insurance where it’s not possible to collect is crappy insurance. Not surprisingly, insurance companies are usually happy to accept very weak appraisals because it gives them great flexibility. It’s not the company that should be picky about the paperwork, it’s YOU.

 

Neil

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Some consumers prefer to have the Independent Appraisal done in front of them.

 

Google the National Association of Jewelry Appraisers (NAJA) and The Jewelry Judge to find Independent Appraisers in your hometown. Another option for you.

 

 

Should you get an appraisal even if the diamond came with GIA certification and is lazer inscribed with that number?

 

 

I would ask Neil.

 

Thanks.

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