the original price I paid, am I cheated..
2006-09-13 16:12:07 · 5 answers · asked by Drone 7 in Business & Finance ➔ Other - Business & Finance
Check to see what value they are appraising it--- many times your appraisal is based on the resale value of the ring, which is almost always just a fraction of the price you actually paid for it. You can never sell diamond jewelrey for what you paid for it! So if they are basing their appraisal on resale value, you did not get cheated.
2006-09-13 16:15:59 · answer #1 · answered by dcgirl 7 · 0⤊ 0⤋
what i would do is search different purveyors who sell that same diamond ring and compare prices. This research should have been done before you bought the ring. Then again, you may have a bum appraiser, but the chances of that COMPARED to seeing what others are selling the same ring for is unlikely. Hope your research goes well. Also ask the appraiser why your ring isn't high valued, check to see what you bought and make sure there was no false advertising.
2006-09-13 23:17:26 · answer #2 · answered by the_greatone 2 · 0⤊ 0⤋
Make sure your appraisel is completed by a graduate gemologist who specializes in diamonds and conducts the appraisal based on GIA or AGS diamond standards. I disagree with the comment below, you want your appraisal to be based on the replacement cost versus resale value. Replacement cost is what the insurance company is concerned with. Many stores will complete an appraisal but are not truly qualified as they are not trained and certified on industy standards.
2006-09-13 23:22:26 · answer #3 · answered by D M 2 · 0⤊ 0⤋
Does your diamond ring have a cert to certify its quality. They usually have ratings for your diamond for its cute, its lustre, purity.. etc..
Usually, most diamonds you find in places like SK jewellery, CitiGems, etc are the lower grade ones... tat is why they are cheap.
More often than not, when the diamond has a cert to certify it's quality, the value will not drop much when you try to analyse its value elsewhere.
But diamonds, though a woman's best friend, are not an investor's best friend. Diamonds are indulgences as their value does not stay.
You can try going to a third shop for a second opinion. in the event tat you are really cheated, at least you can go to the consumers association to make noise..
Good luck..
2006-09-13 23:21:02 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Where did you buy the ring from take your other appraisal with you back to that place also maybe get a 3rd appraisal to take with you.
2006-09-13 23:18:49 · answer #5 · answered by Rodney T 1 · 0⤊ 0⤋