1 carat diamond found - some questions

[SandPirate]

I found this diamond ring metal detecting in the ocean. Thought it was fake given the size so I took it to a "We buy diamonds" place and the guy offered me $3,000 for it. Later I took it into a jeweler to get an estimate for insurance purposes. This guy also offered me $3,000 for the ring. I had to tell him 3 times no the ring is not for sale I just need to insure it. He advised me to insure it for $4,000.

1. I''m wondering why a jeweler would offer me $3,000 for a ring that''s only worth $4,000 for insurance purposes? Can''t a jeweler buy a similar quality stone for half of retail? Something seems fishy about that.

2. A gemologist looked at some hi res pictures of the stone and estimated the value at $6,000 to $7,000 wholesale. Do you think that''s high? What would retail be for such a stone.

3. How can I get this ring appraised without having to worry about them swapping the stone for one of lessor quality?

Thanks!

PS: In case anyone is wondering I turned this ring into the authorities and they held it for 6 months per the lost property laws in that state where I found it and returned it to me when the owner failed to claim it. I should point out that you can find gold rings on the beach that have been out there 50, even 100 years or more so its hard to say how long ago this ring may have been lost. It''s not super old but could well have been out there for 10-20 years.

Here are some pics

Diamond image 1 of 6
Diamond image 2 of 6
Diamond image 3 of 6
Diamond image 4 of 6
Diamond image 5 of 6
Diamond image 6 of 6

 

[JulieN]

See here: https://www.pricescope.com/community/threads/is-it-worth-getting-my-diamond-ags-gia-certified.87633/

Really hard to say how BIG it is in those pictures, with nothing to scale it to.

 

[SandPirate]

Oh it''s 1.09 carat, the size is stamped in the band.

 

[diamondseeker2006]

Did they tell you the color and clarity? The cut doesn''t look too bad from the pictures.

 

[strmrdr]

Take it to an independent appraiser:
https://www.pricescope.com/appr_list.aspx

 

[SandPirate]

Date: 6/13/2008 6:59:26 PM
Author: diamondseeker2006
Did they tell you the color and clarity? The cut doesn''t look too bad from the pictures.

The ''we buy diamonds'' guy checked the color and looked it over good with his loup while he was waiting for his diamond tester to warm up. He said, "oh this is going to test real, you found a good one". He never said what the color was but I have seen some off color diamonds and this one is as clear as glass. I can find no carbon specks or inclusions with a loupe but I''m no diamond guru by any means.

 

[SandPirate]

Here''s another picture for color purposes

 

[SandPirate]

One last picture