e-ring question

EKobrenski

Did your e-ring get appraised for significantly more than you paid for it?  Obviously I know how much FI spent since we share a checking, and we were looking at the appraisal at the store to get insurance and it's a lot more than we paid. Just want to know if we got a fabulous deal...FI said when he compared it on Price Source, it was about right.

Krystalynne21

Mine is by a few thousand...like you, I know what FI paid, even though he blacked it out of the checkbook (hi, I can add/subtract if I really want to).  Just guessing, but maybe they give a little padding for inflation?!?!?  I totally just made that up but it sounded good

bostonbride214

Yes, my e-ring was apprasied for significantly higher than what FI paid. A great deal indeed :)Make sure you get your e-ring insured sooner rather than later...I had a friend loose her diamond b/c the setting was done incorrectly and her ring was not yet insured.

jowens020

yes mine was appraised for more as well. what company are you girls using to insure the ring? we don't have rental insurance so I am not sure if I should get rental insurance and just add it on or get a policy just for the ring?

EKobrenski

Hmm inflation makes sense We're using Jeweler's Mutual. I also heard Chubb is pretty good.

jenvalet

Mine was appraised for just under double what MH paid for it.

agulla23

Mine was appraised for almost $3,000 more. I think it also has to do with if they pay cash for the ring, I was told that if they pay cash you usually get a good deal.

MandahGirly

I bought my wedding bands and when he included the appraisal the price was a lot higher than what we actually paid - I don't know if it reflects the current price of gold or inflation or any of that other stuff

noodle_oo

FI told me that e-rings are usually appraised for about 1.5 to 2 times what you would actually pay for it.  I have no idea why, but that is totally normal.  I wouldn't say you got a good deal, I would say the appraisals are totally inflated.  With the insurance, I doubt they will give you actual appraised value if you lose it.  They will give you enough to buy a ring of equivalent value, meaning you'll probably get about what you paid for it.

SummerBoston10

My e-ring appraised for $14K more than my FI paid for it.  I wouldn't say you got a fabulous deal just because it appraised for more.  I would say you got ripped off if you paid close to what it appraised for!! This is just the way it is with jewelry.....