The Diamond Appraisal: What is it Worth Now?If you are buying or selling a diamond, you may want to have it appraised by an independent appraiser. This will help reassure you that the diamond is priced correctly. When you get an appraisal, you are paying an expert a fee to give you an independent, written opinion or appraisal of the value of the stone or jewelry. This written report is provided by a professional appraiser and will list a specific dollar amount value for the piece. The appraised value is often based on what it would cost to replace the diamond. Replacement cost is often used for insurance purposes. It is generally higher than the price you will be able to get if you are selling the diamond. Appraisals should identify clearly what value basis is being stated, for instance: Replacement, Fair Market, Marketable Cash Value, etc. Finding An AppraiserYour home owner’s insurance agent may be able to recommend a qualified appraiser who specializes in diamonds, or you might locate one through a professional group such as the National Association of Jewelry Appraisers, the American Society of Appraisers, International Society of Appraisers or Appraisers Association of America.You want an independent, expert appraiser who is not part of the buying/selling transaction and who will not be affected by the diamond's value or price. Expect to pay the appraiser a flat fee for the written appraisal report. What you pay the appraiser should be a fixed amount independent of the diamond's value or price. Appraisal is NOT a Lab Report or CertificateBe aware that an appraisal is not the same thing as a "lab report" or "grading report" or "certificate". Laboratory reports or lab issued certificates evaluate the quality of the diamond but do not assign a dollar value or price to it. If you already have a laboratory report or grading certificate for the diamond, be sure the appraiser has a copy of the report or certificate to refer to when performing their appraisal.
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