Hopefully anyone who has a pricey diamond engagement ring, has gotten an appraisal done and has insurance for it. For those people that have gotten appraisals done, did the appraisal come out for more, less, or the same as what you/ your significant other paid for it?
Re: Diamond engagement ring and it's appraisal
The appraisal value for my diamond was double for my engagement and wedding band. I had done my research on diamonds and went for a very clear diamond. I also paid wholesale price since I have a friend who works for a diamond exchange company.
Also when you buy a diamond ring it should come with a certified appraisal. If it doesnt you know somethings fishy about it.
Re: Diamond engagement ring and it's appraisal
my engagement ring was from dubai, along with the certificate of approval from dubai, i went to have it appraised in the uk and it turns out its worth double, which was a nice surprise!!
my appraiser did give me some valuable tips when getting insured, if the ring is from abroad, dont mention it, as if anything was to happen to the ring, your insurers could use it as a clause, saying import tax wasnt paid on it etc etc!! :O
Re: Diamond engagement ring and it's appraisal
That's interesting as the appraisal I got for my ring was also significantly more than what I paid. I wonder if anyone has gotten an appraisl for the same amount or less?
Re: Diamond engagement ring and it's appraisal
My co-workers friend is a jeweller and she says that the appraisal value should be roughly double of what you paid for it. Surprisingly, my aunt paid 1900 for a diamond necklace recently and the appraisal value is 4300. She was quoted 2100 for the necklace and bargained her way down to 1900. So I guess the jewellers theory is correct!