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Michigan-Detroit

Ring Appraisal question

Hi all,

I haven't seen anything recent on the board so here goes my question:

Do any of you know of a place near Clinton Township I can go to have my E-ring appraised for insurance purposes and a ballpark of what I can expect to pay?

Thanks so much!

Re: Ring Appraisal question

  • I can't help with places, but I bet any independent jewelry store will do it. I know Lucido's is pretty well known, they're in Sterling Heights.

    I just took mine to a place by my office. I paid $25. I did not have to leave my ring, but I did have to bring in the paperwork that FI received when he bought the ring that lists the 4Cs.

    There's also an appraiser based in Birmingham that specifically does jewelry appraisals (vs. a jewelry store that does it). A friend went to him and maybe paid $40 or $50. Can't remember his name though :-(
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  • Oh okay, thanks for your help.
  • You could also try the store it was purchased at.  They should be able to give you insurance paperwork with everything listed for free.  
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  • In Response to Re: Ring Appraisal question:
    You could also try the store it was purchased at.  They should be able to give you insurance paperwork with everything listed for free.  
    Posted by mlynn1223
    Curiously, I was told to have a third party appraise it. Can't remember if it was the jeweler where FI purchased or my insurance company. The jeweler I took it to did ask why I didn't go to the original jeweler, though, so maybe it's common to do that. Personally, I sort of liked the idea of getting an independent appraisal. Made me feel like we were getting an accurate, unbiased opinion. And FI seemed happy with the appraisal, so he must have gotten a good deal :-)

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  • Yeah, my insurance company  had told me to go to the store my finance purchased it at but from what I read it's sometimes in your best interest to get an independent apprasial because the store may say it's worth more than it is to make you feel like you got a good deal.

    Basically what I found out is that a person wants to insure her ring for only what it's worth and no more because the insurance company is only going to replace it and not give her the money so it would be wasting money to pay a higher premium to insure the ring at more than it's worth.

    So that's what started this whole mission..lol.
  • My engagement ring came with an appraisal - but when I have had earrings appraised it cost $75 a pair.  I use Miner's Den in Royal Oak, Tapper's in WB.  Just go to any jewler nearby (not like a Jared or Lucido though).

    Also - it depends on your insurance company - they should not just be "replacing your ring with a physical ring" they should actually be cutting you a check.  That's just what I know from my policy.
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