DIAMOND RING APPRAISAL
It is an undisputed fact that people get ripped during the process of appraising diamond rings. There is no need to worry because this article will explain all you need to understand about diamond ring appraisal.
What is an appraisal?
Appraisal simply means assessing the value of diamond rings. The paper that will be given to you after appraisal will highlight the value of your ring, the settings, and stones.
After receiving the appraisal, it always seems like you have snagged a great deal but the jeweler and the insurance company will also benefit from the elevated price. This is because the appraisal of a loose diamond or engagement ring does not give the exact value of the precious piece.
What is the difference between an appraisal and a certificate?
The certificate is the grading that comes with your ring. It does not provide a monetary estimate while the appraisal does.
Appraisers usually don’t have access to the grading entities and they usually operate independently or in affiliation with a jeweler company.
Where to get an appraisal
You are only a click away from getting an appraisal. Nearly all jewelers offer the service but it is advisable you watch out for some things when you are choosing an individual appraiser.
What to know about an independent appraiser
· Ensure the independent appraiser have an educational background in gemology and is credentialed.
· Independent appraisers may be harsh with appraising your engagement ring and may want to tempt you to buy from them.
· While agreeing the appraisal, state clearly that the loose diamond has been purchased and you can’t return it.
· Ensure the appraisal is conducted right in front of you to verify they haven’t switched your diamond for another.
Why should I get an appraisal?
There are two major reasons why getting an appraisal is important;
· To insure your ring for full replacement value
· Peace of mind since you know your ring value
When should I get an appraisal?
Get an appraisal immediately you get your ring at hand. The earlier you appraise your ring, the better. This is because the earlier the appraisal, the earlier you get your ring insured.
In conclusion, it is important to know that appraisal is not free (it cost a fee) unless if the engagement ring or loose diamond comes with an appraisal.
A diamond jewelry appraisal is as important as buying the diamond jewelry, so don’t hesitate to appraise your diamond jewelry.