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Do I Need A New Appraisal


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I am new to the forum. I have a quick question. I have an OEC diamond that is 1.51 cts Si2 clarity I-J color. The appraisal that I have for insurance purposes lists the diamond as a round brilliant cut. As I have no plans to sell this.... do I need a new appraisal to more accurately state the cut. would this affect the value of the appraisal... current appraisal for stone including setting is 8900 dollars.


Thanks so much in advance for opinions.



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Get another appraisal, for exactly the reason Davide lists. The purpose of an insurance replacement appraisal is to define 'like kind and quality' for purposes of replacement in the case of a loss. If the description is inaccurate or incomplete then the replacement will be wrong. It's a simple as that.


That said, I would start with the person you had do the appraisal in the first place since they've already charged you. Ask them to correct errors. It should contain a full description of the item, including all of the stones, photographs that are sufficient to replace the piece if needed, and a price that's sufficient to fund that replacement.

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