4.7 blue spinel update-LD, TL, JOHN G, FREKECHILD, others...

[Barrett]

Re: 4.7 blue spinel update-LD, TL, JOHN G, FREKECHILD, other

First thing to be said is...Steve I am so happy you got a lab report. That is a step in the right direction. I am sure all the other PSer's are just as happy with that. Now to the appraisal

I am sorry but $5000 for this spinel is so over inflated it's not even funny. What happened to the first appraiser? They didn't give you the number you wanted to hear(less than $1000 probably) so you cast them aside to find the person that gave you the number you wanted to hear.

Why would it be worth that much when you can buy one from Tan (LD's post)from less than $800 that has better color and is only 6 points bigger?
http://cgi.ebay.co.uk/4-53ct-Extraordinary-Sized-Cushion-Intense-Blue-Spinel-/330437849647?pt=LH_DefaultDomain_0&hash=item4cefa1722f

Why would you be able to buy all those other spinels that LD posted and well as many others for a fraction of the price? Why would yours be worth $5000 but all the other are under $800? Isn't an apprasial given to show what the fair market replacement value is? So if I can purchase countless numbers of spnels of the size and color for under $800 how does that justify a $5000 value?

I can find no online mention of "Paul F. Hill jr.". Maybe someone else can. I would think if he appraised gems for a living he would have some kind of contact information online.

Lets look at Paul's credentials. I see G.G. after his name and he graduated in 1975 so that was 36 years ago. I don't see a a AGA, ASA, or an NAJA after his name so what qualifies him to appraise gemstones any more than a PSer with a GG?

Taken from Pala website: Graduate Gemologist (GG): One who has taken and passed all courses and prescribed examinations (Theory and Practical) of the (GIA) Graduate Gemologist program. Should have the ability to identify and grade gemstones. This does not make one an appraiser or jeweler

I am sorry Steve but your spinel is worth no where near $4700. Do you think oilpearl would see a $4700 gem for a fraction of the price? If so why?

On a different note...Hey LD and TL and Freke. How are you guys? Long time no see. Hope all is well with you and your family and good health all around.

 

[colorluvr]

Re: 4.7 blue spinel update-LD, TL, JOHN G, FREKECHILD, other

I'm not going to add any more about this specific stone because it's pretty much been said, but I am going to add my two cents about appraisals.

My experience with jewelry appraisals:

Lost (in an accident) a nice 1ct (center stone) diamond ring that was appropiately appraised by the jeweler that sold it to me based on what I paid for the setting accompanied by a GIA report on the center diamond. Ring was custom made and the insurance company tried to fight it until the jeweler (yes, they went to MY jeweler) showed them wholesale prices of equivalent diamonds and mine was appraised UNDER the wholesale value because the appraisal was 8 years old. My jeweler said he would have bought back that diamond for the appraisal amount in a heart beat - I got the insurance amount, only because the insurance company couldn't find a reputable diamond wholesaler that would tell them that they could get a similar diamond for less.

Years later I had my apt broken into and I lost several pieces of expensive gemstone (not diamond) jewelry. The insurance company went to their "jeweler" who told them they could get replacement stones / jewelry for about 1/4 of the appraised value. All they had to do was find a stone with a description that matched the one on the appraisal - and I could have the replacement stone or the dollar value of the replacement stone. I fought it and lost and got way less than what I paid for the jewelry, let alone the insured amount.

If you insured that necklace for the appraisal amount and god forbide someone stole it or you lost it, an insurance company would give you what it would cost them to replace that stone and setting with one that had "similar" qualities.... ie, they would go to a wholesaler who would tell them that they could replace the stone for under $500 and that's what you would get - period (plus a bit more for the setting - whatever they could buy one for wholesale).

I don't care WHAT the appraisal says. The GIA report as it stands doesn't really say that it's anything more than a natural transparent dark blue spinel - they will ignore most of what is on the appraisal. If you got the appraisal to make you feel good about your purchase - then you have accomplished that. If you plan on insuring the pendant for the appraisal amount, your insurance company will be very happy and you will be quite sad if you ever have to collect on this insurance.

If you truly believe that pendant is worth the appraisal, then it should be worth it to you to get the detailed AGL prestige report which breaks everything down so if you DO ever have to have that stone replaced you will get a similar stone - as it stands you will get a large, dark blue transparent spinel that sells for around $300-$500 (or less) on ebay.

 

[FrekeChild]

Re: 4.7 blue spinel update-LD, TL, JOHN G, FREKECHILD, other

Hi amethystguy! How are you doing? Long time no see!

 

[PrecisionGem]

Re: 4.7 blue spinel update-LD, TL, JOHN G, FREKECHILD, other

Well, the easy part to test the appraisal is how much did Steve pay for the setting? Was it $650 or close to it, if so, then the appraisal was pretty close on that part. Steve, what did you actually pay for the setting, if you don't mind me asking?

 

[LD]

Re: 4.7 blue spinel update-LD, TL, JOHN G, FREKECHILD, other

LD-the cobalt is used as a reference in this case being cobalt used to DESCRIBE the so called best color of blue spinel-the price on the 14 kt setting might b a little high but with gold at the prices it is today most apprs. justify the amounts here in the us. this setting is a hinged bail that can be opened up to fit almost any chain so the cost is a little more than the norm bail-cost to the cousumer-steve...

Gene - not sure if this answers your question but it does indicate that the appraisal value is higher than the actual cost paid. FYI the original cost of the spinel was, if I recall, $900 bought only a month or so ago. You can see why it gives rise for concern. The appraisal is suggesting that the gem has increased in value by over 400% more in 2 or 3 months. Could be possible if it was deal of the century but looking at the photos it suggests otherwise.

 

[T L]

Re: 4.7 blue spinel update-LD, TL, JOHN G, FREKECHILD, other

First thing to be said is...Steve I am so happy you got a lab report. That is a step in the right direction. I am sure all the other PSer's are just as happy with that. Now to the appraisal

I am sorry but $5000 for this spinel is so over inflated it's not even funny. What happened to the first appraiser? They didn't give you the number you wanted to hear(less than $1000 probably) so you cast them aside to find the person that gave you the number you wanted to hear.

Why would it be worth that much when you can buy one from Tan (LD's post)from less than $800 that has better color and is only 6 points bigger?
http://cgi.ebay.co.uk/4-53ct-Extraordinary-Sized-Cushion-Intense-Blue-Spinel-/330437849647?pt=LH_DefaultDomain_0&hash=item4cefa1722f

Why would you be able to buy all those other spinels that LD posted and well as many others for a fraction of the price? Why would yours be worth $5000 but all the other are under $800? Isn't an apprasial given to show what the fair market replacement value is? So if I can purchase countless numbers of spnels of the size and color for under $800 how does that justify a $5000 value?

I can find no online mention of "Paul F. Hill jr.". Maybe someone else can. I would think if he appraised gems for a living he would have some kind of contact information online.

Lets look at Paul's credentials. I see G.G. after his name and he graduated in 1975 so that was 36 years ago. I don't see a a AGA, ASA, or an NAJA after his name so what qualifies him to appraise gemstones any more than a PSer with a GG?

Taken from Pala website: Graduate Gemologist (GG): One who has taken and passed all courses and prescribed examinations (Theory and Practical) of the (GIA) Graduate Gemologist program. Should have the ability to identify and grade gemstones. This does not make one an appraiser or jeweler

I am sorry Steve but your spinel is worth no where near $4700. Do you think oilpearl would see a $4700 gem for a fraction of the price? If so why?

On a different note...Hey LD and TL and Freke. How are you guys? Long time no see. Hope all is well with you and your family and good health all around.

You do make a lot of good points here Amguy, and it's nice to see you posting again!!

 

[LD]

Re: 4.7 blue spinel update-LD, TL, JOHN G, FREKECHILD, other

Oooops and a big hello to Amguy from me also! Nice to see you back. Don't be a stranger.

 

[Barrett]

Re: 4.7 blue spinel update-LD, TL, JOHN G, FREKECHILD, other

Hey guys..I see that nice looking avatar you got there LD! TL, so happy about your new camera. I have already read of 2 other PSers that followed your lead. I completely forgot about your lavaball spess collection. Whew..some nice ones! Freke, how have you been? Still got tons of projects going? Got a link to a new sweet gem you have posted that I may have missed. This is a total threadjack but we all know this thread is dead and nothing new can be said that already hasn't here on in past threads regarding these apprasials

 

[FrekeChild]

Re: 4.7 blue spinel update-LD, TL, JOHN G, FREKECHILD, other

Freke, how have you been? Still got tons of projects going? Got a link to a new sweet gem you have posted that I may have missed.

Uhhh....too many. As usual. I can't keep track honestly. Right now I've got two in the works...one should be on it's way in a week or so and the other in about a month or so (haven't even sent my stone in yet).