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Jewelry Appraisers


steelqtip
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hi all. first i wanted to say thanks. i recently proposed to my gf. the ring was a hit and i have to say that i got a great diamond and saved a lot of money using advice from this site.

 

so now i'm on to getting insured. i know i need an independent appraisal and i'm aware of what to look for in an appraiser. but where does one go to find an appraiser like that? hate to think that the yellow pages is the only effective way.

 

thanks for any advice!

 

mike m.

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hi all. first i wanted to say thanks. i recently proposed to my gf. the ring was a hit and i have to say that i got a great diamond and saved a lot of money using advice from this site.

 

so now i'm on to getting insured. i know i need an independent appraisal and i'm aware of what to look for in an appraiser. but where does one go to find an appraiser like that? hate to think that the yellow pages is the only effective way.

 

thanks for any advice!

 

mike m.

 

Hi Mike,

In a case like this, I feel that the person you purchased the diamond from should be able to give you documentation which is acceptable to your insurance company.

 

Not to slight top quality, professional appraisers ( such as Neil, who is a regular poster here)- if you have any doubt you got what you paid for, then you will certainly need a second opinion.

 

But if you are comfortable with the seller, and how they represented what you purchased, it may not be neccesary to hire a third party.

An "appraisal" or "Identification Document" or some sort of paper detailing exactly what you bought, and a fair market replacement value ( which is really a wide open term) prepared by a person, or company who is has a commercial jewely enterprise should be accpetable to your insurance company.

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Hi Mike.

 

Thanks for the vote of confidence David.

 

I’ll be happy to give you a straight answer to your question and I promise I’ll do that but I do have a couple of questions first for you. As David alluded to, the value of appraisal services depends greatly on what you’re trying to accomplish. Meeting the minimum requirements of the insurance companies is pretty easy. What is your purpose? The second question is actually very related to the first. You said that you know what you are looking for in an appraiser. What would that be?

 

Neil

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Hi Mike.

 

Thanks for the vote of confidence David.

 

I’ll be happy to give you a straight answer to your question and I promise I’ll do that but I do have a couple of questions first for you. As David alluded to, the value of appraisal services depends greatly on what you’re trying to accomplish. Meeting the minimum requirements of the insurance companies is pretty easy. What is your purpose? The second question is actually very related to the first. You said that you know what you are looking for in an appraiser. What would that be?

 

Neil

 

I only meant that i know it should be someone who does not buy or sell jewelry as that can create an unnecessary bias. i also know that i should be looking for someone with professional affilitations (e.g. ASA, ISA, AGS)and credentials (MGA, CAPP, ICGA NJGA).

 

i purchased the diamond online and it came with an AGS certificate. i purchased the setting separately. I had it resized and the diamond set at a master jeweler's shop (note: saved a lot money here as the company i purchased setting from wanted 1.50 per point to set; the master jeweler did it for $35 flat).. Obviously, the setting people will not cover any thing related to the diamond.

 

Since my fiance and I are moving to Europe early next year, the warranties and such that the companies i purchased from really are not any good for me, as they require inspection by their company (or one in their chain) every six months. None of them have any sites over in the area we are moving so the only alternative would be to ship it to them airmail from Europe, not always the best of ideas, even with shipping insurance. therefore, i am looking for insurance that will work for me even though i live overseas.

 

i hope i answered your questions. please let me know if there is any other info i can provide. Thanks!

 

mike m.

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I love that list because it so often leads to me for people who don't have one close to home. :rolleyes:

There are only a few dozen appraisers in the whole country who meet your specs. I agree that that's the top of the pile and the biggest downside is that we're so often difficult to find. That said, one of the good ones is in San Diego. Google for Thom Underwood.

 

I'm not sure any of the US insurance companies will insure an overseas resident with the exception of USAA with regard to US military personnel stationed overseas and only then on a limited basis. Foreign insurance companies may or may not accept a US appraisal. Have you talked to your insurer about your plans?

 

Neil

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Not yet, neil. i knew i needed an appraisal for the insurance company so i was going to do that first and then take the next step. thanks for the tip on Mr. Underwood. have looked at his site already and like what i see.

 

i had intended on going thru my renter's insurance company and see what they offered. but your point about overseas residents is well-taken. although i find it odd that location would make a difference. a ring/diamond lost in Germany is just as lost as one in the United States. naive possibly but it seems like common sense to me.

 

do you think the type of policy (replacement vs. defined value) would make a difference?

 

mike m.

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Insurance is a highly regulated business and, in some places appraising is also regulated. Most companies won't even insure residents of every STATE, much less every country and premiums and coverage can vary quite dramatically between various cities even with the same company. I suspect your renters company probably will agree to insure your jewelry but the choices for companies in Germany will be very different from the choices in the US.

 

I work with a lot of non-US clients who are buying things in the states because the dollar is down and it makes the prices attractive to shop here. Often there are specific requirements for the market selection, for the currency being used etc. Some of this has to do with customs and some has to do with local insurance rules. It gets kind of complicated.

 

Neil

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