Quote:
Originally Posted by hulkrogan
Why is every ring ever bought appraised for way more than it's worth?
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Because appraising is a scam, pure and simple. There are no real laws regulating it and very few certified gemologists. Heck, there isn't even a rule saying you have to be certified to write up an appraisal. The only part of the appraisal your insurance company is going to care about is the specifics of the diamond when they go to replace it. They couldn't care less about the amount of money some sales dude puts on the paper. Just because your 0.5 ct diamond was appraised at $12,000 doesn't mean you are getting that from anyone.
My father has been a jeweller for over 30 years, by the way. I asked him this exact question once and this was his answer.