I purchased a loose diamond online help me approx. appraise it...

[s7en]

Okay, here''s the deal, I recently bought a diamond online.

It is a 1.31 carat round brilliant.
I color
I1 clarity
good cut.

I am wondering what is a good price for it, as I think I may have paid too much.

A range would be okay, but I am a bit of a noob when it comes to this stuff, but I am willing to learn.

Thanks a bunch, and here''s to me learning something about this fascinating hobby.

jonn

 

[neatfreak]

You can use the tools at the top of the page under PRICES to do a price comparison. Is it certified by someone?

 

[s7en]

no unforunately it is not....at least not by anyone reputable....not that I know anyway...

using the tool above....how would that correspond with getting it appraised locally? more or less?

 

[Stone-cold11]

Which lab graded it?

From a rough search, GIA stones of roughly your size with same color and clarity sells online for 2.5-3.3k.

 

[neatfreak]

Date: 12/7/2008 1:54:39 PM
Author: s7en
no unforunately it is not....at least not by anyone reputable....not that I know anyway...


using the tool above....how would that correspond with getting it appraised locally? more or less?

Appraisals are usually very inflated unfortunately...Stone Cold gave you a good range for a GIA stone, but since yours is uncertified the retail value would be a lot less...and the grading probably isn''t too accurate either...

 

[s7en]

aH, I see.....Well, when it gets here, I will have to get it appraised.

would a jewlery store appraisal be enough for insurance purposes?

 

[neatfreak]

Date: 12/7/2008 2:16:29 PM
Author: s7en
aH, I see.....Well, when it gets here, I will have to get it appraised.


would a jewlery store appraisal be enough for insurance purposes?

Probably, but you likely will pay a lot more in premiums because the appraised value will be greatly inflated. But the insurance company will only pay out actual replacement cost, NOT what it is insured for. So you will be paying a premium for an amount you could never collect on.

And jewelry stores aren't really the best place to get appraisals, I personally would pay for an independent appraiser if I was going to bother getting it appraised in the first place.

You also have to consider if it's worth insuring a diamond of that value too. If it's something you could replace fairly easily without hurting financially too much it might not be worth it to insure.

 

[s7en]

Ah, I understand. Thanks for all the advice!