Things to do after getting the ring…

[joman]

So what needs to be done after getting the ring? Assuming that I get the ring from a reputable seller like WF, JA or BG, do I still need to take it to an appraiser to make sure I get what I pay for? You know, just trying to save a few bucks after some serious bleeding from the wallet…

Would also be interested in getting the ring insured - I read a few threads here about the appraisal value from the vendor being too high to use. So what exactly should I use?

 

[BLC]

Most insurance carriers will let you schedule it up to the value on the appraisal, not require you to schedule it for that value. I would make sure you feel comfortable that you would easily be able to replace the ring for that price. I would also continue to monitor the values and if valued high enough get a new appraisal every 5-7 years to make sure it's accurate.

 

[heididdl]

If you feel more comfortable you can havve it looked at yet you are coming home with an appraisal and new ring. Just have it insured for the value of the appraisal for replacement reasons.

 

[joman]

So worst case scenario is if I take it to appraisal and the appraisal value is lower than what I pay for…I am just basically getting screwed??
is it possible that I just go to my insurance company, say statefarm, and show them my receipt and the certificate and tell them to insure my purchase value?

 

[Dancing Fire]

Show it off to all of your friends..

 

[joman]

Show it off to all of your friends..

LOL! not here yet...its coming its coming...just preparing the post-purchase process

 

[BLC]

So worst case scenario is if I take it to appraisal and the appraisal value is lower than what I pay for…I am just basically getting screwed??
is it possible that I just go to my insurance company, say statefarm, and show them my receipt and the certificate and tell them to insure my purchase value?

Most carriers would accept a receipt combined with a cert as sufficient purchase value/documentation.