Advice on 3 carat Princess cost

[WIDSMI]

Weight: 3.08 ct
Shape and cut: Princess Cut
Measurements: 8.53 x 8.18 x 5.56
Depth: 68%
Table diameter: 73%
Pavilion depth: 59%
Crown Height: 8%
Girdle: Medium
Finish Grade: Very Good
Purity (clarity): SI 2
Color: G
Photoluminescence: None
The diamond is in a Tiffany style white gold setting now... but I only want the diamond... I will buy a seperate band from SES that she has picked out....

I will be buying this from a friend of a friend... he is asking 14,000 ..... Is this a good price

Thanks

 

[denverappraiser]

Do a search with the toolbar above for similar stones. I looked for 3.00-3.10/SI2/G/princess. There’s about 20 stones offered ranging from $11,472-$29,515. Yours is solidly in the middle, which is a good sign but it’s worthwhile to consider why there’s a range of nearly triple from the top to the bottom of this set.

The most obvious visible difference is the lab that did the grading. All the cheap ones are EGL, all the expensive ones are GIA. This has to do with the grading standards of the labs. A GIA-SI2 doesn’t mean the same thing as an EGL-SI2 and this difference is reflected in the price. This begs the question of who graded your stone , what scales were they using and how did they apply those scales?

The cheapest GIA here is $16,991 and the most expensive is $29,515 with quite a few in between. That’s still quite a range. Why the difference? Some of this is the differences between the dealers. You’ll see several examples of the exact same stone being sold for slightly different prices but this is a small percentage of the money. Nearly all of them are over $23k with an outlier at $17k. Why is that one less? On that we don’t know. It may be a weak SI2 and really deserves an I1, it may be a less popular cut, it may be an especially motivated seller. Further investigation would be required.

So is yours worth it? Maybe and maybe not. If your grading is accurate than it's a pretty good price but you're betting heavily on that grading. Presumably you’ve seen it and the first step is to look at it and seek if it ‘pops’ for you. The right price on the wrong thing is no bargain so if you don't love it that's the end of the deal. Assuming it passes your first inspection, the next step is to have it graded by your own expert to see if it actually fits the above criteria. It makes a big difference. Don’t believe me? … Do the same test as above but drop the clarity & color by a single GIA grade each to I1/H and see what it does to the prices. A capable appraiser should be able t both help you with the grading and help you sort through the price questions.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[tyty333]

Another thing to consider (after which grading lab) is who this stone is being sold by. Is this friend-of-a-friend a jeweler or just
someone who has this stone to get rid of? Stones being sold by individuals usually go for 1/2 the value (or less) than what you
would pay to a real jeweler or vendor that have the benefits of a business (like return policy, upgrade policy, reputation to
maintain, etc).

This stone may be a good value but you need to know what you are getting.

 

[WIDSMI]

From what I was told... This guy has a friend who is a diamond broker and he gave him a deal.. He apparently bought it for 18,000 ... got engaged and things fell thru (( not sure why )) and now he wants to get rid of the ring...

So ... if you were in my shoes and if I go see the diamond and like what I see .. What is the next step?

Take it to a GIA certified inspector?

Also... Is it going to make a difference if the diamond is in a setting now... (( I would change the band to a different setting ))


Thanks

 

[tyty333]

https://www.pricescope.com/appr_list.aspx list of appraisers

Do you know who it is certified by?

Usually you would have the stone evaluated unmounted. If you are just trying to find out if the stone matches the cert then the
appraiser should be able to do that.

This thread has info about what to ask an appraiser.
https://www.pricescope.com/community/threads/why-have-a-certed-diamond-appraised.10662/

This stone sounds like it is being sold by someone who bought it for his future bride but it didnt work out. IMO the price should be
lower. You are assuming all the risk.

 

[WIDSMI]

not having seen the diamond what would you pay for it and I think it was appraised by EGL.... ((( i think thats the name )) not GIA...

 

[denverappraiser]

Date: 12/26/2009 11:50:09 AM
Author: WIDSMI
not having seen the diamond what would you pay for it and I think it was appraised by EGL.... ((( i think thats the name )) not GIA...

Similarly described items from the retailers here seem to be going for anywhere from a little over $11k to a high of about $17k. Whether or not you want to pay matching prices to these folks, pay more for the convenience or less because of a non-refundable private party deal depends on your own temperament for such things as well as details of the deal that we don't know. As has been pointed out above, most people prefer to buy from reliable dealers for an assortment of good reasons and this results in a discount associated with private party transactions. My guess is you can get it for less than $14k although I wouldn’t recommend you buy it at all without both looking at it and having it inspected by your own expert. Any deal also depends on the temperament, motivations and expectations of the seller as well as your own so only time and some negotiation will tell what they will accept. It’s a mistake to buy it just because you think it’s a ‘deal’, especially based purely on information supplied by the seller.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[WIDSMI]

Im going to meet with the seller in the next 2 weeks. He said he got everything appraised thru EGL and that was the info I provided. So if this were you would you have a GIA person appraise the diamond before and money gets exchanged? Is this something that can be done on the same day? I don''t have a expert guy..I live in Atlanta so im sure there here some where.

If its allready appraised by EGL would you pay ofr a GIA as well?

Sorry if I sound redundant... Just nervous about making a bad decision.... (( 10-15k is alot of $ to me ))

 

[sonnyjane]

Date: 12/26/2009 12:52:01 PM
Author: WIDSMI
Im going to meet with the seller in the next 2 weeks. He said he got everything appraised thru EGL and that was the info I provided. So if this were you would you have a GIA person appraise the diamond before and money gets exchanged? Is this something that can be done on the same day? I don't have a expert guy..I live in Atlanta so im sure there here some where.


If its allready appraised by EGL would you pay ofr a GIA as well?


Sorry if I sound redundant... Just nervous about making a bad decision.... (( 10-15k is alot of $ to me ))

The issue with EGL is that while EGL says the stone is a G, SI2, GIA, commonly accepted as a more reputable certification, might say the stone is really an H or an I, with an I1 clarity (or worse)...see where we're going with this? It's your decision whether or not you want to pay a certain amount for something, just be sure you know what it is you're paying for. "Friend of a friend" and "good deal from a broker" are huge red flags for me. I'd have it looked at by an independent appraiser, although you don't have to necessarily pay to get a separate GIA certificate. The appraiser (again, INDEPENDENT), should be able to tell you more accurately what you're dealing with and if it's worth the money.

 

[denverappraiser]

Date: 12/26/2009 12:52:01 PM
Author: WIDSMI
Im going to meet with the seller in the next 2 weeks. He said he got everything appraised thru EGL and that was the info I provided. So if this were you would you have a GIA person appraise the diamond before and money gets exchanged? Is this something that can be done on the same day? I don't have a expert guy..I live in Atlanta so im sure there here some where.

If its allready appraised by EGL would you pay ofr a GIA as well?

Sorry if I sound redundant... Just nervous about making a bad decision.... (( 10-15k is alot of $ to me ))

I’m, of course, not an unbiased observer in that I make a living in part by doing deals just like this but you’re betting $14,000 on the opinion of an adviser who was chosen entirely by the seller (or perhaps by the person who sold it to them)in order to present the stone in it’s best possible light. Whether or not this is a good idea depends entirely on how reliable you consider their advice to be. Do some research into the various EGL labs and make your own choice whether you want to make this bet.

To get a GIA grading report will involve sending the stone unmounted to either NYC or California, something your seller is unlikely to agree to. Most appraisers and gemologists in the US are trained by GIA but this is not the same as grading by the GIA lab. As with EGL (most of their graders are GIA trained as well by the way), you need to evaluate your chosen expert before you decide if you want to rely on their advice. An important concept here is that YOU are the one to choose who it will be.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver