Could a diamond appraisal be inexact?

Please note that the link to Max's Diamond Price Guide in my prior comment is outdated, as they moved the site to http://diamondpriceinfo.com. It still has all the same tools and features so you can get a value for a diamond: a Suggested Retail - In Store Price, Suggested Retail - Internet Price, Private Party Transaction Price, and a Sell to Jeweler Price. The company does not do appraisals of diamonds, but is a pricing guide so you can look up what a fair price is for a diamond. The other tool that is really helpful is the one that can let you know what diamond (carat weight, color, clarity grade, etc.) you should be shopping for within your personal spending budget. Also, because the process of buying a diamond engagement ring involves learning all about diamonds, the website also has a comprehensive education section where you can learn the language and become an expert diamond shopper. M

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Gemological labs do not give appraisals, but they will verify a diamond is real and grade a diamond's color, clarity and cut. Good appraisers understand the market for a diamond as well as how the characteristics of the diamond impact value. Good appraisers also use various tools to understand the market value. Consumers can also understand the value of a diamond the same way they value a automobile: using a blue book or pricing guide. In fact, the wholesale diamond industry has used a pricing guide for a long time.

Now there is available online a FREE service for getting a value for a loose diamond. Max's Diamond Price Guide, The Official Diamond Price Blue Book, provides Suggested Retail In-Store Prices, Suggested Retail Internet Prices, Private Party Transaction values, and Sell to Jeweller values for Round Brilliant, Princess Cut and most other popular shape diamonds. There you can look up your diamond and see what it's worth. You can look up a diamond for sale on the Internet or at your local jeweller and see if the price is fair. Get Free diamond values from Max's Diamond Price Guide, the Official Diamond Price Blue Book at http://www.diamondpricebluebook.com.

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I completely agree with the previous post. I also wanted to add.... we all know that insurance companies are pretty sheisty. Watch out for them! They try to scam you out of your money in any way they can. You should definitely get appraised by one of the professional associations.

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Diamond appraisals can be a little tricky, In that they are not always one hundred percent exact. A diamond jewelry appraisal will give you a fair estimate of how much your diamond jewelry is worth, however, the appraised amount can vary in relation to a number of factors. The shape, quality and size of the diamonds influence the estimate, as well as the amount of set diamonds, the pretense of any other precious gemstones, the quality of the craftsmanship, etc. Since an appraiser needs to take all of these factors into account, there is some room for error. For example, one appraiser may judge the diamonds to be of a certain value, while another appraiser may altogether disagree and set a different value for the diamonds. Different appraiser may judge various aspects of your diamond jewelry differently. However, if as you say, there is a large gap between the first appraisal and the second, then you may have cause for suspicion. Diamond jewelry appraisals can vary but to a certain extent. I would consider the option that your insurance company is trying to trick you into insuring the piece for less of its actual worth. In that case, there’s nothing much you can do besides maybe getting a third opinion for a licensed gemological lab. A gemological lab will give you as exact an appraisal as possible.

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