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

[wstt2]

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]

Return policy if stone does not match GIA documents or has chips to girdle. Non-negotiable!!!

 

[neatfreak]

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]

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]

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]

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]

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.

 

[wstt2]

Is a diamond covered under insurance for chipping?

 

[neatfreak]

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]

If you accidentally knock it on something, and it chips, causing it''s value to go down, would insurance cover that?