I have a diamond appraisal question?
Situation:
The grandmother of my soon to be fiancee and her older sister recently passed away. Their grandmother left them all the jewelry in her will. The diamond in their grandmothers engagement ring is going to be used for my fiancees ring. Keep in mind again, the girls are splitting the jewelry evenly. Her sister got the diamond appraised for $4700 and expects half of the price as her share. I am pretty sure you would not get face value of the appraised diamond.
This affects my soon to be fiancees as the less money I put into the diamond will go towards her band.
so the questions I pose is
Rather than giving her half ($2350) , what would be a fair amount for both sides?
I will get a couple more appraisals,
so average out the 3 appraisals and give her half?
October 5th, 2010 at 7:18 pm
I would get more than one appraisal and average it! I would also get an appraisal from a pawn shop and then give each half of what ever you come up with!
October 9th, 2010 at 5:12 am
Most heirs arrange for three appraisals of any inheritance, including real estate, etc., and average them, then divide by the number of heirs.
October 9th, 2010 at 4:15 pm
You are right that you are unlikely to get the appraisal value when you sell it. Sometimes, you’d be lucky to get half. If you have the diamond grading information from the appraisal, I would recommend going to ebay and searching for a diamond with the same grading (carat, color, clarity,cut) and seeing what they are selling for. As to what’s “fair” or how to communicate that, it is an interpersonal matter. One idea might be that you buy another diamond. You could find another diamond that is “half the size” or something for much less than half the appraisal value of this one. It might be a sweet gesture for your future sister in law…