Appraisal. A written valuation of a diamond — usually for insurance purposes — stating a replacement value at retail. An appraisal is not what a buyer will pay; resale offers typically come in at 25–50% of an insurance appraisal.
Insurance appraisals are deliberately high. They reflect what it would cost to replace the diamond from a retail jeweler — including the retailer's markup of 100–200% over wholesale.
If your appraisal says $8,000, a resale offer in the $3,000–$4,000 range is normal market behavior, not a lowball.
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