I am picking up my wedding band on Tuesday (I'm so excited) and I want to take it to another place to get appraised etc. Can anyone recommend a place in Manhattan to go to that they themselves have gone?
Thanks!
Sassy
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Re: Appraisals......
Jennbaby and a couple others recommended we go to Macys on 34th street. They are reputable and appraise very high, YAY I'm going there either tomorrow or Monday myself. Can't wait
Sassy
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JuneBride, here's the contact info I copied from Jenn:
Florence Zelefsky, G. G. Graduate Gemologist
Macy's 151 West 34th St., 9th Flr. New Yor, NY, 10001-2180
212-494-3840
Hope this helps, Liz
Fran M
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Can someone fill me in on the value of a high appraisal? If you are insuring your ring for the higher appraised value aren't you just paying more for the higher level of insurance?
Betty
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ABSOLUTELY!!!!!!!!!!!! The insurance company reimburses you for the ring...not necessarily for the value. If a ring is appraised for $15000 and say it is H color (whatever) and vs1 (whatever) they will replace or give you the value of that ring. The $$$ means NOTHING!!!! The higher price of the appraisal just makes you feel good but it actually makes you pay more. NEVER go to someone that the seller refers you to because they usually give higher appraisals (for the sake of the seller)
Sassy
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It also depends on the insurance company you go to, not all work it the same exact way.
cw0904
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Betty is so right in saying to never go to an appraiser because your jeweler referred you to him. This is a sketchy business. After dealing with a diamond setter and listening to his stories and experiences with other clients, I could not believe how much people, including myself and FH, have been wripped off when purchasing jewelry! With an engagement ring its even worse! And the appraiser may be in cahoots (sp?) with the jeweler to give you a high appraisal to get your money. In actuality your ring may not be worth that amount stated in the cert. I have heard of this happen and I think FOX5 did something on this.
Sassy
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I agree with you both on that. I would never go to an appraiser recommended by my jeweler, of course they would appraise it high for that jeweler. But I do want to go to a reputable company that will give me a good appraisal for the full value of my diamond. And also, I just dont want to go to anyone off the street to try and decrease my appraisal fee, b/c I definitely don't want to get a low appraisal that in the end the value of my ring doesnt get me the same quality of diamond I first purchased.
Betty
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Yep!! It's a myth that all rings appraise for DOUBLE. My uncle used to be a jewler and he said - Do you REALLY think a jeweler would charge you HALF what the ring is worth??-
cw0904
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That is why Macy's is a great place to go to. They have more than one gemologist on staff and they are so professional. Liz you won't be dissapointed. FH and I walked out of there so shocked at the appaised value.
Sassy
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Wanda, I'm sure I will be happy. I definitely want a good appraisal, and yes, I want it to be high b/c i do think it makes a difference. Thanks
Fran M
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So what is more important a GIA certified stone with papers or a high appraisal. When I insured my ring the insurance agent wanted both the certificate and the appraisal.
I know you wont get more than the insured value but if you have a high appraisal let say $11,000 on a ring that can be replaced for $7,000 based on the cert. aren't you just paying too much for insurance if you insure for $11,000? Or will the insurance company give you $11,000
Betty
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According to my ins. (Chubb) the quality of the stone is what they go by. If the value of the actual ring is $7000 (according to characteristics) and the appraisal value given is $11,000 (by the appraiser) the amount given by the ins. is $7000. He told me it doesn't matter what the monetary number is, it is the quality of the ring that they will replace (the amt it is worth at that time). So yes, if your ring is appraised for too much, you will just pay too much for your insurance, you won't necessarily get that back. (Confusing I know, I was confused too that's why I did so much research )
dgtlsunshine
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I have Chubb Insurance and they will give you the cash value of the ring. Now I am wondering will they give me the value the ring appraised for or what a stone with the qualities go for?
blushingbride2003
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So then, what are you supposed to insure your ring at so you won't be overpaying?
Betty
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I know it is confusing. DON'T WORRY if you got an honest appraisal!!!!!!!!!!!! They WILL give you what the ring is worth. If it is an honest appraisal then that is what you will get back. If you got it appraised for $11,000 and the cut, clarity, and color say it worth $11,000 YOU WILL GET $11,000. The problem is for people that get an appraisal for lets say $20,000 on a $10,000 ring.
cw0904
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I feel its more important to have the GIA certicate. This says everything about the diamond. The only reason I got the ring appraised was for insurance purposes. If they didn't need that I wouldn't have done it. If I didn't get it insured, and something happened to the ring, tough for me. Personally I am more concerned with the quality of the color and clarity of the stone rather than how much it is worth on paper. A flawless stone will have exceptional value regardless of the market.
Betty
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I fully agree Wanda
mv1003
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I too, have heard Macy's does a great job! I plan on going there next week myself
I'm not sure about the rest. All I know is an insurance co. is only going to replace the value of your ring/stone. If (God Forbid) you lost it or it was stolen and you went and had on file that you had a E Color w/ VS Quality and a 1.0 ct stone... they will replace the value of what that equals. (Does that make any sense?)
