Ring Appraisal??

Courtney boo, let us know how things go!

I know mine was appraised for more than double the amount but a certain amount for engagement ring coverage is already in my home insurance, so I'm not paying anything extra. The amount covered is already double what he paid for the ring. I've also heard other people get coverage only for the amount they paid for the ring cause of the premiums cost.

That does seem odd, as it sounds like the appraisal was the original one, provided when the ring was purchased. For us, I know that appraisal put the ring as worth more than DH paid. However, now 3 years later, when we switched insurance companies, they required a recent appraisal (I think within the last year). So the new appraisal states that the ring is worth less than what was paid for it, but again, it is 3--almost 4--years after it was purchased, so with inflation and all those fun factors, I can see how it would occur. But a recently purchased ring, with the appraisal at time of purchase, that just doesn't make sense.

My ring is insured on our homeowner's insurance and it doesn't costs that much to have it on there--it's worth it to replace it if anything happens. My insurance covers exactly what was written on the appraisal, which is why I'ms teamed over this because if it's a $1000 difference and something happens to my ring, then I'm not going to get as nice of a ring if it has to be replaced.

My thoughts exactly "it doesn't make sense". This is the appraisal given by the jeweler who sold it when my FI bought it brand new. I can't wait to go there tomorrow and figure out what is up because if it is onlly worht what he appraised it for, he has some major explaining to do over the $1000 he ripped my FI off.

I'm the same way! I take it off for lotion, to do the dishes, to wash my face/shower, and when I sleep. Even though my ring is insured, it's one of a kind and I would be devastated to lose it! But I just can't do those things with my ring on, so it's a dilemna...

Yes, there's usually a cost associated with appraising your ring. Sometimes the jeweler you bought it from will include a free appraisal in the price, but it sounds like you need an outside person to do it.

Agreed. An appraisal being less than the purchase price just shouldn't happen! You can only insure your ring for the appraisal price, not the purchase price, so it's definitely worth it for you to get another one. Good luck and let us know how it goes!!

Hi! I just had my ring appraised because we purchased it on Blue Nile. They were the only ones that had the ring that we wanted so we bought it. It was a great experience by the way! We took the ring to a GIA certified appraiser and she appraised the engagement ring and the wedding band. She took photos of both rings, evaluated the diamonds, and measured the diamonds, clarity, and color. The ring acutally appraised at almost twice what we paid for it. We paid $5300 for the set and the appraisal said $9238. Hope this helps!

My ring appraises for way more than the purchase price too-due to the great deal on the diamond my fiance got.

Definitely helps me become more furious lol but no seriously, I appreciate all the feedback b/c everyone I have talked to has said it has appraised for at least what they paid, if not more. I have not spoken to one person who had their ring appraised for less than what they paid. Grrrrr

Hope you can get this thing sorted out!!

 

How long does it take to get a rind appraised? Do they have to keep it for a little while? I'd be nervous about leaving my ring with a stranger for a night!!