Buying a diamond from a friend ......

[Dreamer_D]

The trouble in my mind is the difficulty in finding a trustworthy appraiser who can provide the information the OP needs. With the exception of someone like Neil and a few others, I cannot think of many I would trust. I suppose the stone could be sent to one of them.

OP: What the stone is worth to one of us versus what it is worth to you are two different things. I would NOT spend money on a poorly cut diamond. Full stop. So to me, yes the diamond is worthless I do not think stones should be bought on spec to recut them, too risky. I would be thinking about what else I could get for my money, and I would rather spend my money on a well cut stone, no matter how good the "deal" is on the poorly cut stone.

We have told you what you need to do to protect yourself if you want this stone -- have it appraised either by a reputable independent appraiser whom you select, hire, and perhaps even pay; or have it sent to GIA for grading. You need one of those pieces of information to determine its cut quality and thus its value, since the present GIA cert does not have that grading. You also need that information to assess any potential damage to the stone that could affect its clarity grade and thus its value. Her insurance appraisal, receipt for purchase, and anything else will not allow you to determine its value. To go ahead without getting the correct information, now THAT would be foolish

 

[denverappraiser]

The trouble in my mind is the difficulty in finding a trustworthy appraiser who can provide the information the OP needs. With the exception of someone like Neil and a few others, I cannot think of many I would trust. I suppose the stone could be sent to one of them.

I agree that capable independent appraisers are still a bit rare and there are a lot of charlatans in my business. As much as I love it when clients from far away choose to hire me, I know of dozens of appraisers that I would personally recommend who I have met at the various appraisal conventions where we go to get our continuing education, with whom I've had spirited debates over the issues and who take their trade seriously. I've no clue where the OP and/or the seller are located but it's entirely possible that there's a capable IA within a reasonable driving distance and, as you point out, FedEx and USPS offer fast and reliable service.

 

[Mayk]

I am still fairly new here and the advice I have received here has been invaluable. I find it interesting so many people and trade people with "brilliant rock" status are telling this poster to play if safe and the the whole website gets challenged because it is not the message she wanted to hear. If only two or three of these great folks told me it didn't look good I would turn, walk away and look for something else to spend my money on. Just saying..... Not that anyone wanted my one sided newly designated shiny rock status OPINION.

 

[yssie]

Thanks for the information thus far. She believes it was on their homeowners policy appraised at $14k. What does it cost to get a stone recut?

What I find very interesting in this thread that the consensus seems to be this 1.84CT is worthless from the sounds of it, that it's not even worth buying, pass on it all together without any price being mentioned???? So if she says she want's $2K for it, pass?? Even if I think it looks beautiful as is? That's seems foolish...

Lots and lots of interesting posts here...

Well, the obvious next question is how much is she asking? You have not told us.

 

[cokitty]

I would not buy from a friend, remember a deal is only a deal if you are getting exactly what you want. Were you looking for a diamond with those spec before she offered it? If not take a pass...

 

[Amys Bling]

I would not buy from a friend, remember a deal is only a deal if you are getting exactly what you want. Were you looking for a diamond with those spec before she offered it? If not take a pass...

exactly. You should only buy what you really want- not what you get a deal on...

 

[PinkTower]

Thanks for the information thus far. She believes it was on their homeowners policy appraised at $14k. What does it cost to get a stone recut?

What I find very interesting in this thread that the consensus seems to be this 1.84CT is worthless from the sounds of it, that it's not even worth buying, pass on it all together without any price being mentioned???? So if she says she want's $2K for it, pass?? Even if I think it looks beautiful as is? That's seems foolish...

Lots and lots of interesting posts here...

Well, the obvious next question is how much is she asking? You have not told us.

Exactly. In fact, for me it was the obvious first question. If I walk into a jewelry store, the first question is about budget.

 

[TristanC]

I am really grateful these questions get asked, because I think the readers who did not know previously (like me) get increasingly well informed. So much to learn.

 

[fmzip]

Got a call from her today. The cut is listed as "good" she said.

Just to note, it's not that their is any avoidance to have it appraised, it's "who". We are in Connecticut. And with that number, then what? It's not like she can sell it for anything close to it as everyone has pointed out.

From the sounds of it, the consensus is to buy small perfectly cut stone versus something not so perfect and more flashy. Seems like that is the "punch" being served on this forum. An f colored Si1 1.84ct stone should be kicked to the curb in favor of what for say $7000? A little .85ct f VS1?? (That $7000 figure is for conversation sake in this thread) A price has not been thrown out between either of us.


Something tells me the majority of women would prefer the 1.84ct over the .85 carat any day.....particularly if it's eye clean and of same color

 

[ImpatientOne]

The cut is "Good". That enough is enough to disqualify it for me. I started out with a "Very Good" cut. It only looked decent for a little while after being cleaned. As soon as it got the slightest bit dusty or dirty, it looked like crap. A "Good" cut wold be even worse. I currently have an "Ideal" cut stone and I get compliments everywhere I go about how shiny and sparkly it is, even when it hasn't been cleaned in a while.

JMHO, but you get what you pay for. I would rather have a smaller stone that exudes "quality" than a larger one that screams "cheap".

 

[fmzip]

I find it interesting that it's "pass" without a number associated with it.

So if you found this ring, you'd throw it out, right? Are they giving away these cheesy good cut diamonds anywhere as I'd like to have a tennis bracelet made for free as well?

I'm not saying I am buying it or I am not. I just think some of these comments are simply foolish.

 

[fmzip]

She emailed the appraisal.

Replacement Cost $25K

Cut Good

Finish Good

They told her the wholesale value is $15K and she thinks 30% off of that is fair. So instead of more "pass" comments, does anyone want to add to the conversation

The appraisal was done here http://www.valentinesdiamondcenter.com/


So now what?

 

[Christina...]

Hang on to your seats......

She emailed the appraisal.

Replacement Cost $25K

Cut Good

Finish Good

They told her the wholesale value is $15K and she'd be lucky to get 1/2

And that appears to be the number that the knowledgable people on this forum gave you. hhmmm I guess we do know a thing or 2!

I don't mean to sound harsh, but you are on a consumer forum with people, some of whom have been doing this for years, certainly the trades people, but you seem only to 'hear' and not 'listen' to what they are trying to tell you. I sounds to me that you have been given many different routes to consider, but simply because we didn't hooray for your friends diamond you were offended.

 

[swingirl]

I find it interesting that it's "pass" without a number associated with it.

So if you found this ring, you'd throw it out, right? Are they giving away these cheesy good cut diamonds anywhere as I'd like to have a tennis bracelet made for free as well?

I'm not saying I am buying it or I am not. I just think some of these comments are simply foolish.

You've come to a diamond forum where quality of cut is king, and color and clarity are only personal preferences. So this isn't the average crowd that is wowed by size. Most people on PS would only consider a diamond with those specs as something to be recut, which comes with the risk breaking into bits during the process. Personally, I would not be interested in a large "good" cut stone that doesn't sparkle (not saying that your friend's stone fits into that category) unless it was able to be recut.

So, no, I would not throw it out if I found it. I'd spend the $800 and have it recut. But I'd rather own a smaller excellent or ideal cut diamond that dazzles and sparkles.

There is a market out there for "good" cut stones. Just not on PS.

 

[Mayk]

I find your posts very intersting.. as a non expert... but I am a diamond owner that learned the hard way..

instead of beating up the people here who are so very helpful about the flavor of punch they are serving.. why don't you take the stone to a jeweler in CT that actually sells AGS000 or GIA excellent cut stones and take a look at the difference...

I own an AGS000 and I personally would rather own a G, H, I, J 1.00 carat excellent cut than a 1.84 F Good cut... I know what my stone looks like in the sun.. in a candle lit room it's lovely, it is truly beautiful.

You got an asnwer here you didn't like and your first post is back after the apprasial is rude... IMHO that's just my opinion.. I have found most of the experts here are way more tolerable of people with little knowlege who are tying to make a "steal" out of something that really is not...

 

[jstarfireb]

I find it interesting that it's "pass" without a number associated with it.

So if you found this ring, you'd throw it out, right? Are they giving away these cheesy good cut diamonds anywhere as I'd like to have a tennis bracelet made for free as well?

I'm not saying I am buying it or I am not. I just think some of these comments are simply foolish.

I'm not sure if this is your intention, but your posts are coming across as defensive and rude. There's a huge difference between saying I wouldn't buy a diamond like this and saying I'd throw it out if I found it, first of all.

Look, PS is full of people who believe that cut quality is the single most important factor in buying a diamond, and "good" cut simply isn't good enough for us. Most of us won't even compromise for a "very good" cut - it needs to be excellent or ideal. Take a look at this diamond next to an ideal cut of the same size and you'll notice a clear difference. This is why most of us wouldn't buy this diamond (or might buy it at a low price and have it recut). I for one would take the theoretical 0.85 F/VS1 ideal cut over this one in a heartbeat. No contest at all.

I also believe the appraiser is correct in saying she'd be lucky to get half of $15k. And interestingly enough, that $7-8k range is what most of the posters here are saying they might pay for it.

 

[fmzip]

Hang on to your seats......

She emailed the appraisal.

Replacement Cost $25K

Cut Good

Finish Good

They told her the wholesale value is $15K and she'd be lucky to get 1/2

And that appears to be the number that the knowledgable people on this forum gave you. hhmmm I guess we do know a thing or 2!

I don't mean to sound harsh, but you are on a consumer forum with people, some of whom have been doing this for years, certainly the trades people, but you seem only to 'hear' and not 'listen' to what they are trying to tell you. I sounds to me that you have been given many different routes to consider, but simply because we didn't hooray for your friends diamond you were offended.

Incorrect....I was looking for a value from the group, not the "pass" , I'd get a better stone etc. etc. comments.

I am not offended, I am looking for a discussion, that's all. Can you imagine what would happen to the diamond business based on this input from the forum "believers"? The market would be for AGS O's only....

The people that have provided input of substance have been in fact people of the trade, not simply "buyers"

 

[fmzip]

I find it interesting that it's "pass" without a number associated with it.

So if you found this ring, you'd throw it out, right? Are they giving away these cheesy good cut diamonds anywhere as I'd like to have a tennis bracelet made for free as well?

I'm not saying I am buying it or I am not. I just think some of these comments are simply foolish.

I'm not sure if this is your intention, but your posts are coming across as defensive and rude. There's a huge difference between saying I wouldn't buy a diamond like this and saying I'd throw it out if I found it, first of all.

Look, PS is full of people who believe that cut quality is the single most important factor in buying a diamond, and "good" cut simply isn't good enough for us. Most of us won't even compromise for a "very good" cut - it needs to be excellent or ideal. Take a look at this diamond next to an ideal cut of the same size and you'll notice a clear difference. This is why most of us wouldn't buy this diamond (or might buy it at a low price and have it recut). I for one would take the theoretical 0.85 F/VS1 ideal cut over this one in a heartbeat. No contest at all.

I also believe the appraiser is correct in saying she'd be lucky to get half of $15k. And interestingly enough, that $7-8k range is what most of the posters here are saying they might pay for it.

I am defensive of nothing, its not my stone. You may be taking it as rude because I am going against the consensus of Ideal cut only.

I am not looking for input to what I should or shouldn't do.....re-read post number one. You are incorrect, the number of replies in this thread are NOT talking about the price of the stone!

So my friend is recently divorced. She has a 1.84CT solitaire ring that has never been appraised. It looks nice to me but what do I know.

She has a GIA report # 13768414 dated October 2004 so some info is missing like cut grade.

Without having an appraisal done, is there a way to ballpark the value of this ring like is it a 11k ring or 15K ring? This is a link to the GIA report. Is there enough info to make some sort of educated guess on price within reason. Like, I realize it's not a $5000 stone but what would it be closer to in value:

http://www2.gia.edu/reportcheck/index.cfm?fuseaction=home.showReportVerification&reportno=13768414&weight=1.84

 

[Christina...]

Hang on to your seats......

She emailed the appraisal.

Replacement Cost $25K

Cut Good

Finish Good

They told her the wholesale value is $15K and she'd be lucky to get 1/2

And that appears to be the number that the knowledgable people on this forum gave you. hhmmm I guess we do know a thing or 2!

I don't mean to sound harsh, but you are on a consumer forum with people, some of whom have been doing this for years, certainly the trades people, but you seem only to 'hear' and not 'listen' to what they are trying to tell you. I sounds to me that you have been given many different routes to consider, but simply because we didn't hooray for your friends diamond you were offended.

Incorrect....I was looking for a value from the group, not the "pass" , I'd get a better stone etc. etc. comments.

I am not offended, I am looking for a discussion, that's all. Can you imagine what would happen to the diamond business based on this input from the forum "believers"? The market would be for AGS O's only....

The people that have provided input of substance have been in fact people of the trade, not simply "buyers"

That simply isn't true, the only Trade person to have had any imput has been Denverappraiser, the rest have all been buyers. And we did assess a value to the stone. And it was the same amount that your friends appraiser suggested that she would be lucky to get for the stone. I have no idea if your friends stone is lovely or not, based on the information from you, the report and the appraisal there still isn't enough to tell you if this ring is beautiful or frozen spit. You asked for a value and you got many opinions, you just haven't liked any of them.

 

[fmzip]

Hang on to your seats......

She emailed the appraisal.

Replacement Cost $25K

Cut Good

Finish Good

They told her the wholesale value is $15K and she'd be lucky to get 1/2

And that appears to be the number that the knowledgable people on this forum gave you. hhmmm I guess we do know a thing or 2!

I don't mean to sound harsh, but you are on a consumer forum with people, some of whom have been doing this for years, certainly the trades people, but you seem only to 'hear' and not 'listen' to what they are trying to tell you. I sounds to me that you have been given many different routes to consider, but simply because we didn't hooray for your friends diamond you were offended.

Incorrect....I was looking for a value from the group, not the "pass" , I'd get a better stone etc. etc. comments.

I am not offended, I am looking for a discussion, that's all. Can you imagine what would happen to the diamond business based on this input from the forum "believers"? The market would be for AGS O's only....

The people that have provided input of substance have been in fact people of the trade, not simply "buyers"

That simply isn't true, the only Trade person to have had any imput has been Denverappraiser, the rest have all been buyers.

Thanks for picking up on my sarcasm.....so as I said, it's enough from the consumer gallery

 

[Christina...]

...and what would happen to the diamond business is that they would cut better stones instead of cutting for weight retention and profit. your right, that would be horrible!

 

[fmzip]

All these post and only two replies as to what the value is.....

I guess I am on the wrong forum to have a discussion of diamond values

 

[fmzip]

...and what would happen to the diamond business is that they would cut better stones instead of cutting for weight retention and profit. your right, that would be horrible!

You're right, there is no premium being paid for a better cut stone

Next post will probably be that color is irrelevant in terms of value either

 

[Mayk]

All these post and only two replies as to what the value is.....

I guess I am on the wrong forum to have a discussion of diamond values

So WHY are you here? Arguing with everyone... you asked.. people gave opinions and you are still arguing...

 

[fmzip]

All these post and only two replies as to what the value is.....

I guess I am on the wrong forum to have a discussion of diamond values

So WHY are you here? Arguing with everyone... you asked.. people gave opinions and you are still arguing...

You must be another buyer....



What exactly do you feel I am "arguing". Just because I haven't "passed" yet, that's what you consider arguing?

 

[Haven]

You aren't going to get the dollar amount that you are looking for because this stone wouldn't be worth buying for many of us.

Informed diamond consumers care about cut quality because cut has the largest affect on the stone's appearance. We want stones that look as beautiful as possible, and that means excellent cut stones. We aren't going to bother worrying about the dollar value of a "good" cut stone because good cut stones aren't worth anything to those of us who know how important cut really is.

You don't have to worry about the diamond market becoming saturated with AGS000 rounds, though--most diamond consumers are ignorant and they just want to buy the largest stone they can find with the best specs, even though many times those specs are assigned by unreliable labs and don't mean much anyway. (What a horror that would be--nothing but AGS000 all over the place! The terror!)

In other words:
Coming onto PS and asking for the resale value of a good cut RB is akin to going on an artisan cheese forum and asking what you should be paying for Kraft American cheese singles. (But I can get four pounds of Kraft American cheese for the same cost of four ounces of local artisan Gouda! Why don't you people want the Kraft? There is so much MORE of it!)

If you really want to buy this stone of your friend's, buy it. Pay what it's worth to you. Get an appraisal from a trusted appraiser, and go from there. If this stone really does belong to you, which is what it sounds like, set a price and hope for some uninformed consumer to come along. There are a lot of them out there, so I'm sure you'll be able to sell it to someone.

 

[Mayk]

All these post and only two replies as to what the value is.....

I guess I am on the wrong forum to have a discussion of diamond values

So WHY are you here? Arguing with everyone... you asked.. people gave opinions and you are still arguing...

You must be another buyer....



What exactly do you feel I am "arguing". Just because I haven't "passed" yet, that's what you consider arguing?

Buyer of what? I am a consumer that came here for help and recei received great advice which helped me. Then I became a regular because I was learning. You are RUDE at the very least. These people have you solid advice. If YOU want a good cut 1.84 diamond buy it.

 

[jstarfireb]

In other words:
Coming onto PS and asking for the resale value of a good cut RB is akin to going on an artisan cheese forum and asking what you should be paying for Kraft American cheese singles. (But I can get four pounds of Kraft American cheese for the same cost of four ounces of local artisan Gouda! Why don't you people want the Kraft? There is so much MORE of it!)

Great comparison! And I don't even like cheese.

 

[CharmyPoo]

I don't even understand what this discussion is about. A fair value was established for the stone. The stone will make someone very happy while others will not consider it. This applies to almost every diamond dimension - some people love heart shapes and others hate them, some love a warm stone and others like them colorless, some see inclusions as beauty marks and others don't even want to see anything under a loupe. End of the day - it is all good as long as we are paying for what we are getting and buying with all the facts required to make a good decision.

I am still interested in what you decide.

 

[diamondseeker2006]

I believe my original answer was $5000 and an additonal $700-800 for the recut. Look at it this way. Instead of Excellent, VG, Good, etc., think about A, B, C, D, F. This stone gets a C, average. I personally wouldn't want a C diamond if I could have an A or B, especially if for an engagement ring. So the price I'd buy the stone for would be a price that would be a great deal while taking the risk of having it recut and hopefully ending up with A or B cut quality. I don't have a problem with half of wholesale IF this appraisal is accurate, if you like the stone as is. What you have to decide is if you want to get a cheap diamond or get the most beautiful diamond you can within your budget. This one could work out to be the latter if you have it recut.