Home Engagement Rings Why Should I Get My Engagement Ring Appraised?

Why Should I Get My Engagement Ring Appraised?

by Chris W

When couples get engaged, they are excited for their future together. However, between planning the wedding and preparing for what’s next, many couples forget about a couple important details. One of the most overlooked details is getting the engagement ring appraised. At Adiamor, we want our customers to shop for engagement rings with confidence. Continue reading below to learn more about ring appraisals.

What Is An Appraisal?

In essence, an appraisal calculates the estimated replacement value of any item of value. This is generally used for insurance purposes. While it is a sad thought, an engagement ring may be lost, stolen, or damaged. In these cases, your insurance company uses the appraisal and provides the means for a replacement of your ring. Additionally, an insurance company determines the cost of premiums based on the value of your engagement ring. All of this information is included on the appraisal document.

engagement ring appraisal

A sample engagement ring appraisal from Adiamor

Why Get My Engagement Ring Appraised?

There are a number of reasons to get an appraisal, but the primary one is protection. Ring appraisals are long form receipts that describe the quality of the item, including the metal settings and the diamonds. Diamonds each contain unique characteristics, and a certified gemologist can inspect the shape, carat weight, color, clarity, and measurements of the center diamond. In addition to providing insurance companies with accurate information concerning the value of your engagement ring, an appraisal is used to recover a stolen ring.

When Should I Get An Appraisal?

Ideally, an appraisal should happen as soon as you acquire your ring. The sooner the ring is appraised, the sooner insurance covers the item. Not only will this provide peace of mind, it is one less item to worry about during wedding planning. Many jewelers have appraisers who can inspect and verify the value of your diamond ring for a small fee. One of the benefits of purchasing an engagement ring from Adiamor is that we will provide a complimentary professional appraisal on diamond engagement ring purchases at your request.

Will The Ring’s Cost Equal The Appraisal Value?

Many couples assume the the cost of the engagement ring is the exact same as the appraisal value. However, this is generally not the case. In most instances, the appraisal value of the ring will be higher than the purchase price. An insurance company will often view the diamond’s certification in addition to an appraisal to determine the retail replacement value. This is a more accurate way of determining the retail value of the item. The price paid for an item does not always mean the item is worth the same. To think of it in another way, consider collector’s items. The purchase price of the item is lower than the value because of scarcity. Each diamond is a unique gemstone, and an appraisal will provide the necessary information to determine the value of the ring. 

Expert gemologists write and sign all appraisals from Adiamor. You can shop with confidence that the engagement ring you purchased is of the absolute finest quality. 

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