Engagement Ring Appraisal

I didn't know about the cardinal rule that you're not supposed to tell the appraiser what you paid for the ring. I later found out she never should have taken the GIA report from me because she was supposed to give me all of the details on the ring herself to verify what I had and give her complete unbiased opinion on the appraisal. She even asked me what jeweler I got the ring from. I had no idea she shouldn't have asked me all these questions. According to my mom, FH, and few family members, she never should have done any of the above.

The appraisal came in a few hours later via email and she appraised the ring at only $100 more than my FH paid, which was astonishing to me. I say astonishing because he paid for white gold and the ring is set in platinum, which I thought has a much higher retail value. Her explanation is that the cost of gold vs platinum over the weekend was different by only about $75. I checked myself and saw that was true. But I thought that in terms of retail, platinum still has a higher markup? And that's what they're supposed to consider in terms of the appraisal.... I firmly believe she gave a biased appraisal based on everything I shared with her- how much he paid, where he got the ring, and she didn't verify anything since she had the GIA report.

Is all of this true? Do I have reason to ask for a refund? Or am I overreacting?

We were given an appraisal when my FH picked up the ring and it appraised there at almost $2K more than he paid, but we don't know if that's because of the platinum or because it was a "selling" point for them- showing the ring appraised at more and we got a "deal." Our jeweler is VERY honest and has very, very high reviews.

I honestly don't know the answers to any of this. The calculations of appraisals are over my head. Can you get a second appraisal without giving all that information and see what it comes in at, then based on that, ask for a refund?

All I know is that I took my ring in for an appraisal for my insurance company and the appraiser asked me nothing. He did everything in front of me (took about 30 minutes) and gave me a certificate with all the ring's specs and the appraised value (which was certainly more than $100 over FH's buying price). I would get it appraised again, your original appraiser sounds very unprofessional.

From my understanding appraisals are usually WAY more than the cost of the ring. I can't help you with an answer, but I'm about to get get my ring appraised so I want to keep an eye on this thread. Good luck and I hope everything works out.

The jewelry gave us the appraisal papers that I sent to the insurance company, we didn't need a separate person to do them.

My ring ended up appraising for almost double what my fiancé paid for it. They did require the GIA certification for it though. They did not ask me how much I paid for it, not that I can remember.

You can for sure get another appraisal but you don'tdon't deserve a refund. You pay for their time and the report.

You can't reject and request a refund of an appraisal solely based on you not being satisfied with the value. You can however get it re-appraised and potentially dispute the previous appraisal then get a refund, but you have very little bearing to do much other than leave a bad yelp review.

They only need to provide the cost of replacement in its current condition not necessarily the retail value. For that you would need to look into what kind of appraisal you requested. Your appraiser may have been unprofessional, but you need to get it reappraised to do anything. IMO you have no reason to flat out ask for a refund.

I didn't want to flat out ask for a refund on the basis that I'm unsatisfied with the value she gave me. I honestly wasn't even the one who thought of it... my mom and FH were the ones who say I should request one. The argument is that she issued a biased appraisal in asking questions she shouldn't have (what he paid for the ring as she was writing the appraisal, where he bought the ring). I've been informed that a true appraiser asks no questions, and shouldn't have taken the GIA report... That's what I'm asking all of you about. I've actually been led to believe that it's better for the ring to appraise as close to what you paid as possible because when it appraises for much higher, you wind up on wasting money on higher premiums depending on what insurance plan you have, and that the real question to ask an appraiser for insurance purposes is "What's the absolute lowest I can get an exact replica of this ring for in today's market."

In your appraisal experiences, did you give your GIA report to the appraisers? Did they ask you what you paid for the ring? Or are these not questions they should ask? I really don't know what the "do's and don'ts" are when it comes to appraisals.

Honestly, I don't like building on bad blood with people so I really wouldn't care to ask for a refund. She gave me her time and did submit a document, so I agree that I shouldn't ask for a refund. My question is do I have grounds/should I go get a second opinion?

Its a free country, of course you can get a second opinion. if you want to insure the ring, get an appraisal. the fault isn't with the appraiser asking for the GIA cert, thats to make sure the laser id on the diamond is the same and not a fake or stolen item. but the gia cert being wrong could hinder your insurance as it says white gold but an appraisal say platinum.

Yes you should get a second opinion. It wouldn't hurt any to be able to compare and chose which one you want to go with. I personally would think that getting the ring appraised for over what FH paid for it would be a good thing. Mines appraised for 1.5 times what my FH paid for it and yes it is extra money but I rather pay it now than if something were to happen to my ring and I cant get the same or similar value to what my ring currently is worth being that he paid less for it.

I don't really have any advice, but I just wanted to comment that I'm almost surprised the appraisal came back for more than what your FH paid, the reason is because it was custom. Appraisals tell you based on what is physically there, not how much time was required to design and produce the custom ring (for which the original jeweller would have had to charge for).

I'm betting she didn't issue a biased appraisal. What would she possibly have to gain by doing a poor job? It isn't her fault what you have been led to believe...but if you are concerned about the validity get a second appraisal and call it a day.

Thanks all! I really appreciate your comments. If my FH wants to pay for the second appraisal, then we'll get the second opinion. Otherwise, the ring at least appraised for the amount it did. by a jeweler appraiser who has a good amount of experience and certifications under her belt. I don't see why she would have said otherwise. I was just curious of anyone else had other similar experiences.