Diamond Appraisal

Diamond appraisal can be a tricky business, and unfortunately consumers need to take steps to protect themselves against overpriced appraisals and in some cases fraud.

Below you will find useful info and tips about appraisals - including how to evaluate and spot a quality appraisal - which will help you to find a quality diamond wedding ring or engagement ring that has been accurately appraised.

• The value of a diamond should be based upon a diamond's certification. The certification should come from a highly respected independent laboratory; the three top laboratories in the field of diamond certification and grading are the Gemological Institute of America (GIA) the American Gem Society (AGS) and the International Gemological Institute (IGI).
• A diamond certification is an evaluation of a loose diamond, and authentic diamond certificates do not include an appraisal value. It is important for consumers to understand that diamond certification was developed to serve as a third party for both buyers and sellers. The certifications specifically do not contain an appraisal value to ensure the laboratories are never tempted to over appraise diamonds for their own profit.
• The diamond appraisal should be a separate form from the certificate. The appraisal is based upon the certification results including grade reports, size (carat), and the value of any precious metals, and craftsmanship of these metals, which the diamond has been set in.

How to Evaluate an Appraisal:

• When you look at a diamond appraisal, make sure that the appraisal is not included on the diamond certification. This is a red flag which indicates the diamond was not certified by an independent laboratory.
• The appraisal should indicate what type of appraisal it is (for diamonds these are usually replacement value/insurance value appraisals) and the appraisal company or appraiser's name should be listed on the form.
• The only way you can tell if a diamond has been reasonably priced on the appraisal is to comparison shop. Look for diamonds certified by the same laboratories, check the value of diamonds which have similar grades, and then compare; a little time and research can literally save you thousands of dollars.

Questions to Ask the Seller:

• Was the diamond appraised by an independent gemologist who is not associated with your company?
• What type of certifications and education does the diamond appraiser have?
• How long have you worked with this appraiser?
• If I decide to purchase the diamond and have it appraised by another independent appraiser, and I am not happy with the results, can I return the diamond?

• Always keep in mind that an appraisal should be a separate form from the diamond certificate. Stay away from diamonds which are not certified by a respectable independent laboratory and which do not have a separate appraisal form.
• The appraisal should always be evaluated by a certified gemological appraiser (for example, the AGS offers independent appraisals performed by certified gemologists who have fulfilled specific standards of education).
• If you are paying for an outside independent appraisal, remember that you get what you pay for. Quality appraisals can cost upwards of two hundred or more dollars. Appraisals which are free or extremely low priced are a red flag.
• The appraisal should always note what the purpose of the appraisal is, such as determining insurance value.
• Reliable appraisers will provide a written confirmation on when the appraisal will be finished and when the diamond will be returned to you.

Questions Or Comments About Diamond Appraisal?

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