How much is reasonable for engagement ring appraisal?
I bought an engagement ring at Jared's yesterday. They said an appraisal would run $ 100-$ 200 depending on size of the ring, but they could do it immediately. I called on other jeweler today and they estimated it at $ 175 and they would have to keep overnight. What is a reasonable price to have an engagement ring appraised for insurance purposes? Any suggested stores around Philly/Newtown/King of Prussia areas?
Best answer:
Answer by Armstrong
I think appraisals are a waste of money. Just insure it for more than you bought it for. Its just a money grab.
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$ 75-$ 200 is reasonable for an appraisal. Especially if they will give you a written quote that you can keep and provide to your insurance company.
If you find someone doing appraisals for much less than that I would worry about their skill, and if they are charging to much more they are overcharging. Good luck!
It’s reasonable. Appraisals are important. My ring came with the appraisal that is how bluenile does it. For article insurance, they need an appraisal for a dollar to dollar match if it should be lost. They will not insure it for just whatever you say. Homeowners will only give you 2500. The article insurance costs 60 a year, and should I lose my ring we get 8000, but we paid 4700.
In my store I charge $ 45 for an appraisal with pictures, same day If you happen to be in NW indiana see Moriartys Gem Art in Crown Point. Dont expect same day service.