Having just inherited a beautiful diamond ring, you want to insure it. But first you must appraise it to find its insurable value. How should you go about this? To find a reputable jeweler, ask friends or business associates who have used a jeweler recently. Once you find the right person to appraise the diamond for you, ask them what they are looking for to determine the value.
To properly appraise a diamond many tools must be used, but mainly they rely on a variety of magnifying devices. They will explain to you what they must look for to expertly appraise the diamond. It will seem a confusing process at first until you learn that they will check the cut, the color, the clarity and the carat. This means that as they appraise your diamond, they are looking at its clarity to determine how pure the diamond is. Does it have any inclusions; that means anything flawed in the diamond. As they continue to appraise it they will tell you that the fewer the flaws the more it’s worth.
When they appraise the carat they are simply checking its weight. The cut is obvious, it will be checked to see how the original jeweler dealt with finishing the diamond. They will check the facets to make sure they sit right, measuring them to a tenth of a millimeter as they appraise how brilliant the stone looks. As well they must appraise the color. Most diamonds are a color called exceptional blank, unless they are a tinted diamond.
Once the jeweler has completed the job, they will let you know the results. Then will issue you a certificate which will explain their findings. This will give you a value for insurance purposes. Sometimes this can be disappointing, so when you decide to appraise an item be prepared to accept the answer no matter what it is.