Top Things You Need To Know About Getting Your Diamond Appraised

Appraising a diamond is probably one of the most important things you can do following

the purchase of diamond other than buying insurance and having it certified. However, the appraisal is more important than the insurance because the appraisal is what will determine how much your insurance company will pay if something happens to your diamond, such as theft or destruction. Because it is so important, here are some things you should know about diamond appraisals.

The appraisal should be done by an independent appraiser. Appraisers come in all shapes and sizes. Some of these appraisers are the employees of jewelry chains or some distribution network. Because of this, the appraiser might be inclined to you an appraisal that is lower than the diamond is actually worth because it is worth it for him to do so in order to encourage you to purchase diamond from his store which may or may not be comparable or even the same value. It is a good idea to check the background of an appraiser for this reason.

The appraisal directly affects insurance. As stated previously, the appraisal affects diamond insurance. In order to prevent a significant financial loss, it is a good idea to purchase insurance. However, insurance companies require a written appraisal in order to purchase coverage. Thus, in order to get that all-important coverage, you should have an appraisal done.

The appraisal is not free. Appraisals are not free with purchase, especially if you use a reliable, independent appraiser. A trustworthy appraiser will charge between 30 and 300 dollars, depending on the complexity of the diamonds cut and how much examination has to do be done.

Have more than one appraisal done. For those who can afford it, a smart thing to do to ensure that your appraisal is accurate is to have more than one person evaluate and appraise the diamond. This is mostly to ensure that youre getting the precise value of your diamond and not possibly getting the equivalent of glass. However, this may become costly, so a decent number is two or t here different appraisals.

The appraisal will take the certification results into account. When the appraiser does his work, he will refer partially to the certification that came with the diamond, if applicable. The appraiser will look at the Color, Cut, Clarity and Carat of the diamond, in addition to any inclusions indicated on the report and certification. In addition to this, the type of verification and where it came from will be just as important. A GIA or AGS certification will be much more helpful to an appraiser because those are the most through certifying agency in the world. It is also important to note that certifications are only done on loose diamond, not on diamonds that have already been embedded into jewelry.

The Rapaport Diamond Report. This is perhaps the most important document when appraising a diamond. This report is compiled the Rapaport group in Israel and it is essentially a table of information with the values of different sized diamonds on it. In order to determine a monetary value, a decent appraiser will be the Rapaport report as his basis for determining a price.

The appraisal will take all information about the diamond, including the anecdotal. The appraiser looks at every single portion of the diamond, looking at inclusions, scratches, the cut and its physical composition, as well as its physical proportions. In addition, the appraiser will note any kind treatment that was done, such as filling or coloring.

by: Rebecca Klein

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