I've been offered a one carat OEC but it's chipped

[YadaYadaYada]

I'm at one of my favorite pawn shops today and the owner brought out this one carat diamond OEC and offered to sell it to me for $800. Thing is it is very chipped, apart from the chips it looks amazing under a loupe but the chips are significant.

I'm considering whether it would be worth it to buy it and have the chips taken care of? I can probably get it for less but not sure what a fair price is for a diamond in this condition. These are the best pics I can get with an iPhone camera.

Thanks for any and all help!

 

[PreRaphaelite]

Other than the chips, is the color and clarity you like? If it is, grab that stone for the best price you can.... if you have it looked at and it can’t be fixed, it can still be bezel/milgrain set and be beautiful. Gosh I wish I were there with you at the pawn shop!

 

[Karl_K]

The chips do not look fixable without a lot of lost weight so only buy if you like it the way it is now.

 

[YadaYadaYada]

@Karl_K, thank you for your quick response.

What are you thinking I might lose for weight? Would it be like going from one carat to half?

@InsecureSweetGirl, I wish you were here too! DH dropped me off for a couple of hours and I'm supposed to be looking through her costume jewelry but all I can think about now is this lol!

 

[Karl_K]

Cant say for sure without a better look how it would turn out, looks like it has another chip at the prong opposite the big chip.
What is that one the edge of the table, inclusion or chip?

 

[YadaYadaYada]

Cant say for sure without a better look how it would turn out, looks like it has another chip at the prong opposite the big chip.
What is that one the edge of the table, inclusion or chip?

That is a chip, when I looked at it through the loupe it looked almost like shattered glass.

 

[lovedogs]

If you like it I'd try to get the lowest price you can, and then ask one of the trusted vendors how much weight would be lost if the chips were to be polished out. It might be a lot of ct weight loss (1ct to 1/2), and you can decide whether to bezel set it as is vs recutting. I'd offer like $600 and see what they say!

 

[nala]

To help
You figure out a comp. I picked up this chipped oec .65 platinum setting with about .15 tcw single cuts for 350. I haven’t fixed the chip. It sits by the prong. And the color and cut are so gorgeous that I don’t mind wearing it as is. Hope this helps!!

 

[ac117]

I'd pass - if it loses half its weight, it's not worth it. You could def find a half carat stone in that price range without all the hassle and risk.

 

[denverappraiser]

The way a dealer would look at this, and pawn shops work with dealers often, is to estimate what the results of a recut would be, decide what 'wholesale' on that final stone would be, subtract the cost of cutting, grading, and shipping, subtract some fudge factor for putting up with the risks, and subtract some profit margin for going through the grief of doing all of this. Chances are excellent that this math has been done at least once ahead of you and the shop didn't like the answer. That's why it's still there.

 

[YadaYadaYada]

Well I have agreed to buy it for $600, she started at $800 so I'm happy with that, then I'll have to decide whether to leave it and bezel it or recut. I'm leaning towards putting it in a bezel setting and calling it a day.

Thanks for weighing in everyone!

 

[PreRaphaelite]

I cannot wait to see it as you play with it and make your decision! Woo hoo!

 

[YadaYadaYada]

Thanks @InsecureSweetGirl, I just can't leave this one behind for some reason the color is very good and apart from the chips the clarity is excellent. I know some would probably pass but I'm kind of like the vintage rescue squad so I'm going to rescue her!

 

[PreRaphaelite]

I know *exactly* how that feels! Just think, you are giving her a good home

 

[PreRaphaelite]

Oooh, lets make a “Rescue Squad” thread

 

[YadaYadaYada]

Oh and it's 6.9mm so actually over a carat

 

[Miss Marple]

Nice find. I'd bezel it and call it a day. I bet it would make a nice pendant.

 

[HappyNewLife]

heck yeah, especially for $600. I'd bezel it and call it a day

 

[motownmama]

Yeah! I vote bezel. (BTW - the mm doesn't determine if it's over 1 carat.

 

[nala]

I like the idea of the bezel but will the chip still show? From the pics it almost looks like it will. Maybe play with tin foil and make a faux bezel. Show us pics, too! Lol. And see if you can live with the chip.

 

[foxinsox]

Oh thank goodness! I was going to say that if you didn’t want to buy it, I’d send you the money and get you to buy it for me I couldn’t leave it there even damaged!
I’d love to see some more pics and will be keen to see what you choose to do with it

 

[PreRaphaelite]

@foxinsox I had that thought too! I bet a bunch of us did! Lol

 

[stracci2000]

Oooohhhh! @StephanieLynn!! .......Nice!!
I'm with everyone else. A nice bezel with some yummy milgrain, and problem solved!
It's old and has character. I love it!
And I'm jealous..............

 

[CoffeeAndDiamonds]

Add me to the waiting list of people to call, should you decide you can't live with the chip! 

What an amazing find! It's beautiful chips and all!

 

[YadaYadaYada]

Thanks for all the love everyone and support/thoughts/replies. This pawn shop is literally the Cheers of pawn shops, I've been going there about a year and the owner told me to just go behind the counter today and look through the jewelry cases, she gives my kids stuff every time we go in, sent us home with pizza today.

So here are some pictures, unfortunately there is no sun,(damn winter) but just so you can see some better images. The ring is too small so I had to squeeze it on for a quick pic so forgive the red finger! I adore her, she will be bezeled
at some point and I'm not sure if that will cover the chips as Nala pointed out but I'm sure we can come up with something when the time comes.

 

[natasha-cupcake]

What a great find! I love the idea of putting this is a nice milgrained bezel. The bonus is that you also have this setting. You can clean it up and pop a pretty colored stone in it.

 

[Lisa Loves Shiny]

Congrats @StephanieLynn. I love OECs and am so happy you found such a charming one at a great price. I looks great on your hand.

 

[stracci2000]

You have to wonder how it got chipped like that.
It would take a lot of aggression to create that kind of damage on a diamond.
But you saved her, and gave her a loving home! Yay!

 

[Lookinagain]

I think you could consider a collet setting as well, which might help cover the chip.

 

[paperunicorn]

NICE find! I have a similar thing - about a 1ct old miner in a deco setting with a few chips that I got for $995 at a pawn shop. The chips aren't visible unless you look at them up close. A couple dealers have suggested I get it repolished, but it's not a priority for me. Glad your new diamond went to a good home <3