XOXO

your insurance is based on your appraisal value(as that has all the stats of your ring)... everyone should go and get there rign appraised at a place different from where they bought it(and never let it leave your site while at the place)..

i worked at a jewlery store and soo many people came in, and found out there ring wasnt what the place they bought it from told them..

Let's be realistic here, why would a jeweler sell a diamond for half the price???
Say you paid $8k for your ring and it appraises for $16k...then something is wrong. (Unless the jewelry is related to you or a very close friend.)

There are different types of insurance policies...replacement value (doesn't matter what you paid...if they can find the same diamond with the same gradings at a cheaper cost...that's what you get) or stated value (they pay you what's on your policy.)

a ring is supposed to appraise at double the cost and yes it macy's 34th st only

They appraise it higher (not always necessarily double) because that forces you to pay more for your insurance (depending on your homeowners insurance). Let's be honest, a lot of people don't lose their rings

It is just another scam in this whole wedding business

it's a fact. it should always appraise for at least double.

you have never heard of this?

Diamond appraisals are predicated on a theoretical doubling of wholesale value for items valued $1500-$3000. Items whose wholesale value is between $3000 and $5000 are multiplied by 1.9, between $5000 and $7500 the multiplier is 1.75. From $7500-$10,000 its 1.6 and $10,000 and above uses 1.5. The problem is that theoretical wholesale is almost always higher than real dealer cost and competitive dealers work on smaller margins than those suggested for appraisal. For these reasons appraisals are quite inflated in relation to what you should pay. In addition, diamonds are often appraised inside the mountings by appraisers with varying levels of skills and this leads to further inaccuracies. A final complication is the fact that many sellers do their own appraisals and are likely to fudge in their favor. What’s a consumer to do? First, shop around and try to educate yourself. A good practice is to talk to friends and see where they purchased and how happy they were 6 months after the fact. Many wait to comparison shop until after they buy and discover too late they could have gotten better quality, saved money or both! In addition and most importantly purchase a certified diamond graded by an impartial and highly recognized third party.