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Connecticut
TBee99
member
Did your man go to Jared's? (Ring question)
in Connecticut
So my fiance got my ring from Jared's, and it's wonderful. However...I want to get it insured, and when we asked Jared's about it, they said we had to pay $250 for a private appraiser to come and appraise it. Is this normal? Can I go to another store and get it done for cheaper? $250 seems like quite a bit just to have you look at it. (I have tried submitting the paperwork we got from Jared's when FI bought the ring but apparently this won't do and I need an actual appraisal).
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Re: Did your man go to Jared's? (Ring question)
$250 is outrageous and I strongly advise you guys to go elsewhere and not to pay that! This is why I hate chain jewelers, they're overpriced and they tend to charge a lot of extras. You need to ask them why the paperwork wasn't included with the purchase of the ring which is standard.
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[QUOTE]No, my DH didn't go to Jared.. lol. He ordered my ring from Blue Nile and all the paperwork came with it. The paperwork should come with the ring with it's appraisal value and certification. You present that to your insurance company when getting it insured. $250 is outrageous and I strongly advise you guys to go elsewhere and not to pay that! This is why I hate chain jewelers, they're overpriced and they tend to charge a lot of extras. You need to ask them why the paperwork wasn't included with the purchase of the ring which is standard.
Posted by SuMmErKuTiE[/QUOTE]
This. My ring came with its value and all the important info. Mine came from a chain, but they gave us all the neccessary info, so I just had to fax it over to the insurance company.
It's strange, the paperwork he got has all the info for my main stone, but since the other smaller stones are set in the band, it doesn't stand the information for them (clarity, etc). Should we got back to Jared's and ask them why? The lady there has been really helpful.
My guess is that it's so high with them because they are bringing in that independent person that charges $x and they then add in their own fee that makes it $250. A certified appraiser will test the metals, stone, grade for quality, color, cut, measure the stones, photograph them, etc. Specific equipment is needed for this. They also have recertifications each year that they do to keep their license. This insures that standards are being kept.
I would suggest shopping around for an appraiser. Just make sure that they are certified by the AGS or GIA to do appraisals because technically, if they are not the appraisal isn't worth the paper it's written on. The insurance company can choose to not honor the replacement value or can ascribe their own monetary amount for it. An appraisal from a certified appraiser is actually a legal document that will hold up in court.
[QUOTE]akulaji - Thank you! Will you appraise my ring? :P In all seriousness, this was extremeley helpful. Jared's did mention an outside appraiser they bring in (hence the $250 price tag), but I figure I am better off going to a local person my family knows, as long as they are AGS or GIA approved.
Posted by TBee99[/QUOTE]
lol! I'd appraise your ring, but I'm not certified to! :-) Yes, I think you are perfectly safe going somewhere else as long as they are certified. They are all held to very high standards, so you can rest assured that you'll be getting a document you can put your confidence in. If you need any other help/advice, just let me know!
Oh, and with an AGS, GIA certified person you shouldn't have to worry about stone swapping, etc. Again, they can lose their licenses by doing stuff like that...and in all honestly, they handle so many diamonds, it's not worth it to them to bother. lol! If you're truly worried about that, when you take it to them, ask them to show you the main stone under the microscope first, have them identify specific flaws for you, then give them the ring. That way, when you get it back, you can look at it again under the scope and find those same flaws. No two diamonds are the same. It's like a fingerprint.
[QUOTE]No, my DH didn't go to Jared.. lol. He ordered my ring from Blue Nile and all the paperwork came with it. The paperwork should come with the ring with it's appraisal value and certification. You present that to your insurance company when getting it insured. $250 is outrageous and I strongly advise you guys to go elsewhere and not to pay that! This is why I hate chain jewelers, they're overpriced and they tend to charge a lot of extras. You need to ask them why the paperwork wasn't included with the purchase of the ring which is standard.
Posted by SuMmErKuTiE[/QUOTE]
exactly this, my FI got my ring from blue nile as well and we insured it through their preferred insurance company...they accepted the paperwork that came with the ring and we only had to pay $100 annually to insure it.
$250 is way high. $150 is more average.