Ring appraissed for exactly what I paid for it from Tri County.
Original post by hugs213
The guy told me that my band sells at Fortunoff for $3500-$4000. It was $2800 and I paid $2500. I went to get it appraised yesterdayand he told me that it is worth no more than $2500. Should I say something to the jeweler?
janwinterbridejoy
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Re: Ring appraissed for exactly what I paid for it from Tri County.
i think it has to do with insurance and also the fact that you want to know you got a good deal and saved some money
alina
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Re: Ring appraissed for exactly what I paid for it from Tri County.
Posted by janwinterbridejoy
i think it has to do with insurance and also the fact that you want to know you got a good deal and saved some money
Saving $$$ is one thing (in which case you paid less than 'fair' price). But for insurance purposes your own jeweler can write in the 'appraised value' and that can be higher than the purchase price. Those two don't have to be the same...
But appraised value by default is not higher than price, it only means that its a fair value of the ring.
marymoon
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Re: Ring appraissed for exactly what I paid for it from Tri County.
I don't know why it works that way, but given the choice, wouldnlt you rather it appraise higher than if it appraises for the same?
aug04bride
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Re: Ring appraissed for exactly what I paid for it from Tri County.
my 2 cents - The prices are usually different b/c the appraisal value ( replacement value) is assumed to be more- no sale/discount, no connections , inflation, etc....
Kriss2c
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Re: Ring appraissed for exactly what I paid for it from Tri County.
It should appraise for more depending on the market... It's a good idea to get your rings appraised every 3 or 4 years to keep up with market, in case God forbid anything should happen and you need to replace the ring.
You cannot make an accurate appraisal after 5 minutes (he may have asked what size the diamond is, but at an actual appraisal he would have weighed it... without removing the stone, measured its color and looked for imperfections within the stone and in its shape, as well as acid test the metal of the setting) and no insurance company is going to take a word of mouth assessment.
I urge you to take it to one of the two private party appraisers mentioned above for a more accurate assessment.
MrHostility
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Re: Ring appraissed for exactly what I paid for it from Tri County.
Posted by hugs213
I got it appraised at another jewelry store that sells jewelry. I didn't get it in written form so he didn't charge me anything. He took about five minutes to look at it and asked me how many carats it was. He said it was worth maybe between $2200-$2500. He was just estimating though, now that I think of it. He told me some stones were better than others...but again it was an estimate. How far off could he have been on the appraisal?
WORST.APPRAISAL.EVER
Go get it done for real. You'll see they map your stone, under a microscope. What you got done was a crap opinion from someone who sells jewlery. That was not an appraisal.
RedHead
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Re: Ring appraissed for exactly what I paid for it from Tri County.
Posted by MrHostility
Posted by hugs213
I got it appraised at another jewelry store that sells jewelry. I didn't get it in written form so he didn't charge me anything. He took about five minutes to look at it and asked me how many carats it was. He said it was worth maybe between $2200-$2500. He was just estimating though, now that I think of it. He told me some stones were better than others...but again it was an estimate. How far off could he have been on the appraisal?
WORST.APPRAISAL.EVER
Go get it done for real. You'll see they map your stone, under a microscope. What you got done was a crap opinion from someone who sells jewlery. That was not an appraisal.
I agree. You can't go by what this man said. You can't give an accurate appraisal like that. You should know that just looking at your ring for five mins. isn't going to give you any real answers
