buying a used diamond -- help!!

[dstroock]

I am thinking about buying a used diamond engagement ring and am a bit new at this. The person has all the proper paperwork and the Specs from the GIA report are below -- tell me what you think. Thanks!

Round Cut
1.58 carat
H color
VVS2
61.2% depth
60% table
girdle thin to slightly thick
no cutlet
no fluorescence
very good polish
good symmetry

it also comes with 2 side diamonds that are .65 carat tw of indeterminate quality

It was appraised in '98 for 10k total (including a gold setting which I could care less about).

I was thinking something between $4500-$6k, but some people have advised either higher or lower. Any other advice about how I should approach this?

Bonus question: I'm not 100% sold on the cut, which I think is pretty good, but since I don't know the pavilion or crown angle -- is there anything I should look out for?

 

[baltneu]

If it was appraised at $10K in 98, it probably cost the owner less to buy, however, there have been increases in retail prices, as we all know from previous post.
Others on this forum are better than me at evaluating the "quality" of a diamond, but if you get it for the amount you want to offer, sounds like a steal, that is in term of price, again, I am not the guru on quality.
ps. Let me take one stab at the quality, others should correct me, you need pavillion and crown angles to run thru the HCA. The table looks a little large, meaning that it might be a shallow cut, and therefore a dark diamond. Again, others should correct me if I am wrong.

 

[Magnum]

Doing a search on pricescope for 1.5 to 1.55 carat H VVS2 non-H&A diamonds with similar depth and table numbers, the prices range from just under $10k to a little over $12K. Even if it's not ideal, but still a good cut quality, $4500-$6000 seems like it would be a very good price. if it's a poor cut, it still might technically be a godd deal, monetarily speaking, but even $4500 is a lot of money to plunk down if you're going to be disappointed by the cut. Are you able to visually inspect the diamond, or are you buying it site unseen? If you're able to see it yourself, and it is pleasing to your eyes, than I think it's a good deal. If you're buying just on the info you've given, I would stay away. if the seller agrees, it's not a bad idea to spend around $100 and have an indepented appraiser look at it to determine the cut, among other things, which would help you avoid possibly making a several thousand dollar mistake. The other thing to consider is that even though a diamond is one of the hardest substances, it can still chip through normal wear and tear, and appraiser can help make sure the diamond is not damaged in any way, as well. Hope I haven't dissuaded you too much. Buying a used diamond can be a great deal. Just wanted to point out some gotcha's. Good luck.

 

[oldminer]

Put the specs of this diamond into a Pricescope search and find out at what price level a new diamond would compete with this stone. You should not be paying a premium for a used diamond but rather should expect to get a little extra value for being a willing buyer from someone who wants to sell it a little more than a standard retailer. There should be a little plus for you becuase of "motivation".

The side diamonds and the mounting have more value if you are going to use them than if they are just part of the deal and you'll want to liquidate them instead. I can't tell yo how much this is worth without much more detail, but the price of the diamond should be low enough that you get the mounting and side stones for a very good price regardless.

 

[dstroock]

Thanks for the help so far.

I attached a pic of the ring, and I get the feeling it would look nicer in a platinum setting.

I'm definitely going to check out the ring in person first. In terms of determining the pavilion or crown angle -- I know I should get a Sarin report -- is that something I can get at a standard gem appraiser? Is there any other way to determine these things?

I also think that I would use the side diamonds to make a nice pair of earrings, since the tw was .65? Thoughts?

 

[Magnum]

Sarins are somewhat expensive machines, so no, unfortunately not all appraiseres will have access to that machine. Two appraisers that have an outstanding reputation and contribute here often, are David Atlas (www.gemappraisers.com), who has already responded to your thread, and Rich Sherwood (www.sarasotagemlab.com). I think they both have access to a sarin machine and would be a great resource to help you in your purchase. they deal with pricescope members often, even if they're not local. There's also a list of appraisers provided by pricescope (there's a link on the top of the page under "resources") that you can access and make inquiries.

 

[dstroock]

just an update on the ring purchase:

I met up with the seller and got the diamond appraised by someone I trusted and got a sarin done:

Depth: 61.3%
table: 60.0%
crown angle: 33.05
pavilion angle: 40.6%

I consulted with cut adviser (a very handle tool!) and it looks great!

The side stones ended up being H SI1 and .65ctw.

I ended up closing the deal for $5k (which included a really crappy gold setting that I'm going to melt down and make into a gold tooth haha

)

I thought it was a pretty good deal.

I'm setting the center stone into a platinum vatche x-prong channel and once its done, I'll post a pic or 2 here!

I decided to make the side stones into a nice set of diamond earrings.

Thanks again for all of your help and advice! Pricescope rules!

 

[Patty]

Good for you! You will have a beautiful ring and pair of earrings for not much more than 5k. That sounds like a great deal for those size diamonds.