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Thread: Advice on selling a diamond ring

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  1. 27th March 2024, 10:21 #1
    Kingstepper
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    Quote Originally Posted by Longblackcoat View Post
    If you have a recent appraisal, the insurance value - at least you do with my policy. Others may be different.
    Just crazy!
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  2. 27th March 2024, 10:44 #2
    Saint-Just
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    Quote Originally Posted by Kingstepper View Post
    Just crazy!
    Yes and no. The insurance agreed to a value (accepted the expert's valuation) and charged a premium accordingly. What they SHOULD do is only accept valuations from experts that quote replacement value. But too many people in the chain benefit from overhyped valuations, starting with the buyer himself who feels good about it.
    'Against stupidity, the gods themselves struggle in vain' - Schiller.
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  3. 27th March 2024, 11:24 #3
    Kingstepper
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    Quote Originally Posted by Saint-Just View Post
    Yes and no. The insurance agreed to a value (accepted the expert's valuation) and charged a premium accordingly. What they SHOULD do is only accept valuations from experts that quote replacement value. But too many people in the chain benefit from overhyped valuations, starting with the buyer himself who feels good about it.
    Yes, crazy the valuation values.

    No other insurance (house, motor, watch etc) facilitates the insurance at double the real value. Valuers, the trade, insurers - charlatans all.
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