Bought Diamond in Israel in 1989 - Today''s Price?

[Benwinner]

I bought a diamond from the Netanya Diamond Centre in Israel Oct 24/89

I want to sell it but need to know today''s fair price for it. I paid $6846 USD for it. I had it appraised when in New York at Independent Gemological Appraisal Inc Fifty West 47th St on my way back to Toronto to verify it''s price. Total Estimated Retail Replacement Value was $7,500 which was $8,900 CDN at that time.

Description: NATURAL DIAMOND

WEIGHT: 0.71 cts.
Shape & Cut: Round brilliant cut
Measurements: max. 5.71 min. 5.65 x 3.42 mm
Proportions: Good
Depth%: 60.2%
Table diameter: 65%
Crown height: 8%
Pavilion depth: 45%
Girdle thickness: Thick Faceted
Finish Grade: Good
PURITY: V.V.S.2.

COLOUR GRADE: 0 (E)

Photoluminescence: None

Any help would be greatly appreciated. Thanks.

 

[Lorelei]

Welcome to Pricescope,

The best thing to do would be to get an independant appraisal on the diamond and tell the appraiser you want an idea of pricing for resale. Regrettably it is only usual to recoup 30 - 50% of what you paid if reselling on the secondary market.

If you are in the USA then this tool can help you find an appraiser in your area.

https://www.pricescope.com/appr_list.aspx

 

[Benwinner]

Thanks Lorelei,

I live in Canada near Toronto, ONT

I can do that but wondered if anyone here could give me an approx price.

 

[neatfreak]

Honestly...you probably won't get more than a thousand or two for it in today's resale market if that.

Does it have a certificate from GIA, AGS, or anything?

For comparison, here is an AGS certified, Hearts and Arrows, Ideal cut stone (basically the creme de la creme of diamond cuts) with the same parameters otherwise as yours and it sells retail for $4800.

http://www.whiteflash.com/hearts_arrows/A-Cut-Above-H-A-cut-diamond-1445159.htm

 

[Lorelei]

Date: 10/28/2008 2:36:49 PM
Author: Benwinner
Thanks Lorelei,

I live in Canada near Toronto, ONT

I can do that but wondered if anyone here could give me an approx price.

Maybe one of the appraisers could chime in and give you a rough figure but it is hard without seeing the stone. Does it have a grading report - EGL?

 

[Benwinner]

Thanks neatfreak,

All I have is the original International Diamond Certificate issued by E.G.L. Gemological Laboratory.

Sort of discouraging to know it''s value has declined after nearly 20 years.

 

[Benwinner]

The EGL report Certificate # is A F 6073/ID

The info on my first post is from that report.

 

[Lorelei]

Date: 10/28/2008 2:46:51 PM
Author: Benwinner
Thanks neatfreak,

All I have is the original International Diamond Certificate issued by E.G.L. Gemological Laboratory.

Sort of discouraging to know it''s value has declined after nearly 20 years.

I know it must be, but regrettably diamonds are not good financial investments.

 

[Dancing Fire]

Date: 10/28/2008 2:36:49 PM
Author: Benwinner
Thanks Lorelei,

I live in Canada near Toronto, ONT

I can do that but wondered if anyone here could give me an approx price.

hate to tell ya but....not much for this poorly cut stone.

 

[Sharon101]

Wow, I cant believe it cost you so much twenty years ago!!!!

Basically, even before the huge economic crisis that we are seeing worlwide now, the secondary market for diamonds around 1 carat and under was not paying well.

For myself, (and Im in the trade) I decided to keep my 1.4 carat diamond for one of my kids one day as the trade in price wasnt worth me selling it. Anything around the 1 carat and under size is not in huge demand.....or, you could say that supply outstripes demand in a huge way.

Anyway, hope it works out for you.

 

[denverappraiser]

I can’t really give you an answer to what it’s ‘worth’ without quite a bit more information but I can give you a methodology to get in the neighborhood. First, you MUST figure out what you have. For the most part, EGL graded stones have disappeared from the database here so getting a comp here is going to be difficult based on the report you have. Estimate EGL/E/VVS2 as comparable to a GIA/F/VS1 and search for stones in the ‘pricescope your diamond’ bar at the top of the page. You can sort by price by clicking on the column headers. Since your cut is marginal, look towards the bottom of your price range. That seems to be in the $2k - $2500 range, retail. These are your competitors. Figure their cost is about 75% of what they’re selling for with stones in this price range. Most jewelers buy from the same or similar suppliers. This cost is buying is from dealers who give them credit terms, will provide them with information that allows them to list and sell things ‘virtually’, who will drop ship to 3rd parties, will take returns, etc. They make it very easy to buy from them. You want them to pay cash and take into inventory a stone that’s likely to be a slow mover. This isn’t out of the question and at the right price pretty much everything will sell but I mention it because the only competitive advantage you have is price. Assuming that it’s reasonably pretty, if you’re selling to a dealer, this puts you in the $1000 - $1500 range, again depending on what you really have.

If you’ve got the patience, and wherewithal to do it, you can always try to retail it yourself. How well this goes depends on your skills but you are probably facing the same competitors and you still basically have to sell based on price. Some people have decent success on ebay, craigslist or the newspaper but mostly there are so many sharks that the honest sellers have been driven out. There are a variety of consignment stores that will probably be willing to work with you and this is often the best strategy for private sellers. You have the benefit of the sellers credibility but they will usually work for a smaller margin because you are carrying all of the inventory costs.

The 1989 ‘replacement’ value of $7500 was fiction. That company is still in business and I'm sure they would be happy to sell you an equally useful report if you asked.

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

 

[diamond. md]

Hi Neal,
Just wondering if you do appraisal of loose natural colored diamond with GIA certificate.
Thanks in advance.
Diamond, md

 

[denverappraiser]

Date: 10/28/2008 11:23:31 PM
Author: diamond, md
Hi Neal,

Just wondering if you do appraisal of loose natural colored diamond with GIA certificate.

Thanks in advance.

Diamond, md

Yes. If you have a client who is interested in an appraisal, please have them contact me directly. I can be easily reached through the link in the signature at the foot of every post. I don't do appraisal services for dealers.

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

 

[Benwinner]

Thanks denverappraiser.

Although discouraging, your reply has been very helpful.

BTW, the diamond is in a ring I wear and a few people who noticed it have commented how it it caught their eye because of how it sparkles. It really shows well and I''ve put other people''s diamonds next to it to compare where you can really see the difference. It always proves to be a winner. I can''t understand how some say it isn''t worth much. I may end up keeping it and try to sell it privately. I was hoping to get around $5,000 CDN for it.

Again, thank you all for your help here.

 

[arjunajane]

Honestly, you paid a ton more than you or even a retailer could hope to get for it now.
I have no idea on pricing history of diamonds, but I''m hoping they were all this price at the time, not just yours !?

 

[purrfectpear]

Date: 10/29/2008 10:53:41 AM
Author: Benwinner
Thanks denverappraiser.

... I can''t understand how some say it isn''t worth much. I may end up keeping it and try to sell it privately. I was hoping to get around $5,000 CDN for it.

Again, thank you all for your help here.

You''re just having difficulty accepting the reality that you grossly overpaid years ago. An ideal cut in the same size and clarity is $4800 RETAIL, max. An EGL certed stone, excellent to very good is $2800-$3000, again RETAIL.

A retail seller will provide certifications, a return period, and in some cases (GIA or AGS) lifetime upgrades at full value.

You are not a retail seller. You will provide nothing except a transaction of cash for diamond. As an example, I have a GIA .80 H, VS2 that I purchased RETAIL @ $1200 in 1995 from a brick and mortar store.

Your diamond is worth what someone will pay for it. Expect that to be in the $2000 and under range.