to continue with my other thread but on a different topic... is getting the engagement ring appraised a requirement??? if so how much does this usually cost and can anyone recommend any shops in the tri state area??? TIA...

 

Appraisal is not a requirement, unless you want to insure it (You should add a rider to your homeowners ins).

With many rings in the 5-10K range, it is worthwhile to insure as a stone popping out will be tough and pricy to replace.

Congrats Drew

 

the ring I bought came with an appraisal for insurance purposes. If you want it for some other purpose you might want an independent appraisal

 

I think i paid somewhere like $150-200 for an appraisal in the diamond district. I was just checking the paperwork a couple days ago and can pass the info along.

 

If you are getting it appraised for insurance reasons, the dealer should provide you with one free of charge. No point paying for one in that situation.

 

When given that appraisal from where you purchased it, they usually jack up the estimate. When you go to an independant third party, they will give you an unbiased opnion (so you know if you got ripped off or not )

http://www.igiworldwide.com/en/cor_conta_usa_ny.htm

Here was the place i went to, 212 753 7100. I didnt see appraisal services but i got mine done in 02 so call and ask first. They will make sure the diamond you got matches the paperwork you were given. I was told there are fake reports out there so they make sure you get what you are paying for cause.

 

thanks...

 

Yeah I guess that is a possibility. When I got mine they used the sticker price even though I paid about $1000 less because I knew someone who used to work there, they gave me the family price as she said I was her nephew. Besides these things are pretty cheap to insure so a higher value isn't such a bad thing for insurance purposes, if its lost you will get more back for it so you can go buy an even more overpriced piece of silly jewelry.

 

If I remember correctly, the place my dad is buying my moms new ring, or maybe just the certain brand (20th anniversary gift), has a policy that if the stone falls out because of a ring defect, they'll replace it.

Don't quote me on that but I swear I remember hearing that. Maybe I'm crazy.