South Towne Ctr

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Poratti Bridal Set appraised for far less than original purchase amount. My wife and I purchased a Poratti wedding set for $4,999.99. We were informed that it could not be discounted as it was name-brand and he designer strictly prohibited discounted rates. Separately, I purchased a natural fancy vivid yellow diamond (1/2 carat). It has been valued at: $3,200-$5,000 depending on the jeweler.

I took in the complete set for a formal appraisal at Schubach Jewelers. The jeweler informed me that the diamond is worth a few thousand, and my appraisal would be ready within a week. He mentioned that because it was a designer setting, it alone would come back to 10-15% more than what we paid. A week passed and I received the total appraisal in the amount of $4,700.

The appraisal read: "fancy strong yellow diamond in Poratti Setting: $4,700". When I asked Schubach, they said that they must have made an error. They thought that the jeweler found it on sale for $4,700 for the ring, hence, he appraised it at $4,700.

It was sent back, but my insurance company is now denying it.

The appraisal was $120 for a single sentence and no details whatsoever.

Run from this jeweler.