Be present.
If the appraiser allows, be present while your ring is
being appraised. Due to time and space constraints, appraisers
may not allow you to be present. In this case, get a plot
diagram of your diamond. A plot diagram records the measurements
and characteristics of your diamond. When you pick up
your diamond after it has been appraised, the plot diagram
can be compared to the diamond you are picking up to ensure
that the appraiser has given you the correct diamond back.
Cost.
The cost of an appraisal varies considerably according
to the appraiser’s experience, the time the job
will require, and its difficulty. Appraisers usually are
paid by the hour or by the carat. Hourly appraisals typically
run between $50 and $150. Fees should be posted, but be
sure to ask about any additional costs or fees before
you commit to the appraisal.
Don’t be taken in by an appraiser whose fees are a percentage of the ring’s value. This is not the standard practice of an experienced, reputable appraiser.
Re-appraise.
Your engagement ring should be re-appraised every three years to account for inflation or to adjust the value for damage. In addition, pictures should be taken of it to ensure that a current photo is available should your ring be lost or stolen. Many appraisers include a photograph of your ring with their report.
