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Advice for safely purchasing from seller of bankrupcty & estate jewelry?

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wstt2

Rough_Rock
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Mar 18, 2009
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I am looking at purchasing a 3ct diamond from a jewelry seller of estate and bankrupcty sale jewelry. Any advice or words of caution?


It is a 1997 GIA certified emerald cut diamond, with very thin to thin girdles. The seller has a gemologist on staff who said that there is no damage or chips to the stone. I would be getting a truly excellent deal on it but I am trying to be cautious. I checked the certificate and called GIA and they said the specs on the certificate match the specs in their records. At first when I called GIA they said they didn''t have the same size stone for that certification number and the gemologist was on the phone with me and I heard him jump and be panicked like he had been taken, but then GIA realized that it was in their New York Database so everyting did match up. I guess hearing him jump made me feel better like he was legit.


I viewed the diamond briefly in person and it looked great, but I don''t know what to look for.


I think I will have his appraiser, appraise it before it is mailed to me so I can insure it right away. I will also have someone look at it when I receive it to make sure it matches up with the certificate. (I''ve heard horror stories of stones being switched) I don''t know if my insurance would cover me if someone switched the stone before it even got to me if I mailed them a copy of the appraisal which the seller had done for me.


It''s an expensive purchase and making a payment before I receive the stone is a scary thing too as I live out of state and would get it shipped to avoid the taxes (taxes would be $3k). I do trust the seller, but I am always doubtful and cautious. Anyone have any good suggestions?

 

Upgradable

Ideal_Rock
Joined
Aug 15, 2004
Messages
5,537
Return policy if stone does not match GIA documents or has chips to girdle. Non-negotiable!!!
 

neatfreak

Super_Ideal_Rock
Joined
Feb 17, 2007
Messages
14,167
Date: 3/19/2009 10:42:26 AM
Author: Upgradable
Return policy if stone does not match GIA documents or has chips to girdle. Non-negotiable!!!
DITTO. And pay by CC if you can to get more protection.
 

kindred

Brilliant_Rock
Premium
Joined
Dec 3, 2008
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945
Date: 3/19/2009 10:26:42 AM
Author:wstt2

I think I will have his appraiser, appraise it before it is mailed to me so I can insure it right away. I will also have someone look at it when I receive it to make sure it matches up with the certificate. (I''ve heard horror stories of stones being switched) I don''t know if my insurance would cover me if someone switched the stone before it even got to me if I mailed them a copy of the appraisal which the seller had done for me.

That sounds like a good plan.
Here is a link to a list of independent appraisers.
 

jewelerman

Ideal_Rock
Joined
Sep 30, 2007
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3,101
I myself would not buy a diamond that has a very thin to thin girdle.One good hit and its chipped or finding a setter who would risk setting that stone may be hard.It would have to be a killer deal to take the risk of chipping,recutting and loosing the 3 carat weight ect...i bet that if its got a very thin girdle then it has other proportion issues...I would get a solid return policy in writing so the stone can be brought to an independant appraser who can explain the value of a well cut stone and remember that just because its G.I.A. certed dosnt mean its good quality and not just a big stone.Ive been a buyer for an estate jewelry company and every quality of jewelry is purchased from all sorts of sources and just because its pre-owned or bought from an estate company(do they use inflated retails to make their prices sound like good deals?)dosnt mean much.What info did you recieve from the certifcation?Be careful.
 

strmrdr

Super_Ideal_Rock
Joined
Nov 1, 2003
Messages
23,295
Med. girdle is as thin as I would go on an EC.
Might be ok in a bezel if there is no damage now.
 

wstt2

Rough_Rock
Joined
Mar 18, 2009
Messages
8
The 1997 GIA cert says VS2 E 10.41 x 7.26 x 4.48 depth 61.7% table 66%, culet none, polish very good, symmetry good, fluorescence none and girdle very thin to thin. All the numbers make it look like a great stone. However, the girdle makes me scared now that people have pointed that out. I like the shallower depth as more volume is surface area than depth, and I like the longer length to width ratio.

I showed a photocopy of the certificate to someone who makes custom jewelry and settings and asked him if it looked like a good diamond for me to get & him to set, and he said yes. While he makes lots of high priced rings, and custom items, he isn''t a diamond expert and I don''t know if he looked at the girdle thinness when I showed him the copy of the certificate.
 

neatfreak

Super_Ideal_Rock
Joined
Feb 17, 2007
Messages
14,167
Date: 3/20/2009 10:56:30 AM
Author: wstt2




Is a diamond covered under insurance for chipping?
Depends. What do you mean? In what circumstance?
 

wstt2

Rough_Rock
Joined
Mar 18, 2009
Messages
8
If you accidentally knock it on something, and it chips, causing it''s value to go down, would insurance cover that?
 
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