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Appraisals


whitej
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Hey guys and girls. I have been lurking around here for a couple months learning what I could about diamonds. For some reason I could never post, so I had to re-register. After much study and research on diamonds I bought one from BlueNile and got engaged a little over a week ago :( . I have a question about and appraisal that came with the diamond. It has a value and an appraisor signed it and everything, but it has a blue nile stamp on it. My question is for insurance purposes do I need someone else to appraise it since I bought it from BlueNile or is the appraisal they sent good enough? I have seen on here where one should get an independent appraisal, that is why I am wondering. Thanks for the response.

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Hey guys and girls. I have been lurking around here for a couple months learning what I could about diamonds. For some reason I could never post, so I had to re-register. After much study and research on diamonds I bought one from BlueNile and got engaged a little over a week ago :( . I have a question about and appraisal that came with the diamond. It has a value and an appraisor signed it and everything, but it has a blue nile stamp on it. My question is for insurance purposes do I need someone else to appraise it since I bought it from BlueNile or is the appraisal they sent good enough? I have seen on here where one should get an independent appraisal, that is why I am wondering. Thanks for the response.

 

 

For insurance the Bluenile appraial should be fine.

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Hey guys and girls. I have been lurking around here for a couple months learning what I could about diamonds. For some reason I could never post, so I had to re-register. After much study and research on diamonds I bought one from BlueNile and got engaged a little over a week ago :( . I have a question about and appraisal that came with the diamond. It has a value and an appraisor signed it and everything, but it has a blue nile stamp on it. My question is for insurance purposes do I need someone else to appraise it since I bought it from BlueNile or is the appraisal they sent good enough? I have seen on here where one should get an independent appraisal, that is why I am wondering. Thanks for the response.

 

 

For insurance the Bluenile appraial should be fine.

 

Diamondsonfifth,

 

I disagree. Most insurance companies are certainly happy to accept a BN ‘appraisal’ but this doesn’t make it in the consumers best interest to submit one. The ones I’ve seen have been both seriously overvalued and underdescribed, especially involving anything beyond the center diamond. The result is an insurance policy that costs too much and produces too little in the case of a loss. If the value conclusion, and consequently the premiums, are significant it quickly outweighs the cost of professional appraisal services.

 

Neil

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Hey guys and girls. I have been lurking around here for a couple months learning what I could about diamonds. For some reason I could never post, so I had to re-register. After much study and research on diamonds I bought one from BlueNile and got engaged a little over a week ago :( . I have a question about and appraisal that came with the diamond. It has a value and an appraisor signed it and everything, but it has a blue nile stamp on it. My question is for insurance purposes do I need someone else to appraise it since I bought it from BlueNile or is the appraisal they sent good enough? I have seen on here where one should get an independent appraisal, that is why I am wondering. Thanks for the response.

 

 

For insurance the Bluenile appraial should be fine.

 

Diamondsonfifth,

 

I disagree. Most insurance companies are certainly happy to accept a BN ‘appraisal’ but this doesn’t make it in the consumers best interest to submit one. The ones I’ve seen have been both seriously overvalued and underdescribed, especially involving anything beyond the center diamond. The result is an insurance policy that costs too much and produces too little in the case of a loss. If the value conclusion, and consequently the premiums, are significant it quickly outweighs the cost of professional appraisal services.

 

Neil

 

 

Thanks for the reply.

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