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Diamond Ring Appraisal

Wednesday, July 24th 2013. | Diamond Ring

Diamond-Ring-Appraisal

Diamond ring appraisal is a process in which jewellery experts appraise the authenticity, quality, design and value of your diamond ring about once every two years. Commonly, most people believed that the declared price is the most important aspect of diamond ring appraisal, which is not really true. Actually, the detailed description of your diamond ring is the part of diamond ring appraisal which protects you the most. The detailed description of your diamond will be the identification of the diamond with a quality description which includes cut, carat weight, clarity and colour, the types of metal used and any trademark stamps or karatage and the estimated replacement value. Diamond Ring Appraisal

Diamond Ring Appraisal

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Basically, there are two types of diamond ring appraisals – estate evaluation and insurance replacement appraisal which is more common. Estate evaluation is based on what the diamond ring can be sold for at the time of evaluation but does not give an offer to buy the diamond ring. The insurance replacement value will give the cost of replacing the diamond ring as closely as possible to the original diamond ring. That is why, to make sure that you will receive an equivalent replacement, it is not just the price which is important, but so are all details of the diamond ring. The insurance replacement appraisal should be able to ‘fingerprint’ your diamond ring. Diamond Ring Appraisal

So then, how often should your diamond ring be appraised? Generally, most insurance companies will not accept diamond ring appraisal which is older than three years. In addition, if somehow there are any unusual changes in economic, for example, high inflation or deflation, the diamond ring appraisal value should be checked. And also, when you purchase a new diamond ring, you need to make sure that the diamond ring is covered for replacement. After all, your diamond ring is valuable for you not only for its appearance but also its intrinsic worth.

Diamond Ring Appraisal

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Before you head out to a diamond ring appraiser, there are several facts you should know. The first one, it will be wise if you have your diamond ring appraised by someone with a fine reputation, for example, a local jeweller. It will be ideal if the diamond ring appraiser is a graduate gemmologist from the GIA (Gemmological Institute of America), AGS (American Gem Society), American Society of Appraisers, International Society of Appraisers, Appraisers Association of America, or a member of a respected diamond ring appraisal in the society. The service will cost you a small price, but you will be billed for the time of the expert only and not be billed for the value of the diamond ring, that is why, you need to beware of the ‘diamond ring appraiser’ which charges you on the diamond ring’s value. Anyway, choose someone you trust. Diamond Ring Appraisal

Next, beware of the two types of diamond ring appraisals, like have been mentioned above. One type of diamond ring appraisal is for insurance purposes, while another for selling the diamond ring. You need to make sure to discuss the purpose of the diamond ring appraisal, since that will affect the stated value. If your diamond ring is over-appraised, you should pay a higher insurance premium. If your diamond ring is under-appraised, when you file an insurance claim over it, the insurance company will replace it with an inferior diamond ring.

Diamond Ring Appraisal

Diamond Ring Appraisal
Diamond Ring Appraisal
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