DCI for an appraisal

[iluvmydog]

Hi -

Has anyone ever dealt with anyone at this website?
http://www.diamondcuttersintl.com/ And or heard of Fred Cuellar?
"Diamond Cutters International (DCI) has been involved in educating diamond buyers since 1985. In 1991 owner Fred Cuellar, also known as The Diamond Guy®, penned the best seller, “How to Buy a Diamond” and became the diamond expert for a variety of publications and organizations including Men’s Health Magazine, America Online, The Weddingpages, and MSNBC. In 1998 DCI developed the National Diamond Helpline, dispensing free advice and appraisals on a toll free number."

I received the following quote from DCI on my diamond despite the poor cut and I am just wondering why there is such a big difference in opinions.

"Based upon the information you provided, a fair price to pay for this diamond is $4,696.50. If you would like a breakdown on the price or have
any questions feel free to call The National Diamond Helpline at 1-800-275-4047 Monday-Friday 9:00AM-6:00PM, and Saturday 9:00AM-12:00PM
Central Standard Time."
Appraisal Date: October 27, 1998
Shape: Round Brilliant
Carat Weight: 1.01
Clarity Grade: VS2
Color Grade: H
Color Type:
Flourescence: None
Table Percent: 64%
Crown Angle: don''t know
Crown Height: don''t know
Pavillion Angle: don''t know
Pavillion Depth: don''t know
Girdle Thickness: Thin
Girdle Thickness Field: thin to medium
Total Depth Percent: 56%
Polish: Very Good
Symmetry: Very good
Authenticity: The Diamond is Real
Treatment: Diamond has not been treated
Round Minimum Diameter: 6.69
Round Maximum Diameter: 6.73
Round Depth: 3.76

 

[belle]

there are many many threads on this subject. do a search with that person''s name, or the company, or even ''crook'' and you will find plenty of information.

 

[denverappraiser]

I don't understand your question.

He said:
"Based upon the information you provided, a fair price to pay for this diamond is $4,696.50"

This is a pretty specific statement. What other opinion are you comparing this to? He offers to explain it if you call him. Do it.


Neil Beaty
GG(GIA) ISA NAJA
Professional Appraisals in Denver

 

[RADIANTMAN]

Date: 1/3/2006 12:06:43 PM
Author:iluvmydog

Hi -

Has anyone ever dealt with anyone at this website?
http://www.diamondcuttersintl.com/ And or heard of Fred Cuellar?
''Diamond Cutters International (DCI) has been involved in educating diamond buyers since 1985. In 1991 owner Fred Cuellar, also known as The Diamond Guy®, penned the best seller, “How to Buy a Diamond” and became the diamond expert for a variety of publications and organizations including Men’s Health Magazine, America Online, The Weddingpages, and MSNBC. In 1998 DCI developed the National Diamond Helpline, dispensing free advice and appraisals on a toll free number.''

I received the following quote from DCI on my diamond despite the poor cut and I am just wondering why there is such a big difference in opinions.

''Based upon the information you provided, a fair price to pay for this diamond is $4,696.50. If you would like a breakdown on the price or have
any questions feel free to call The National Diamond Helpline at 1-800-275-4047 Monday-Friday 9:00AM-6:00PM, and Saturday 9:00AM-12:00PM
Central Standard Time.''

Appraisal Date: October 27, 1998
Shape: Round Brilliant
Carat Weight: 1.01
Clarity Grade: VS2
Color Grade: H
Color Type:
Flourescence: None
Table Percent: 64%
Crown Angle: don''t know
Crown Height: don''t know
Pavillion Angle: don''t know
Pavillion Depth: don''t know
Girdle Thickness: Thin
Girdle Thickness Field: thin to medium
Total Depth Percent: 56%
Polish: Very Good
Symmetry: Very good
Authenticity: The Diamond is Real
Treatment: Diamond has not been treated
Round Minimum Diameter: 6.69
Round Maximum Diameter: 6.73
Round Depth: 3.76

Is your question about Fred Cuellar or the reasonableness of the appraisal?

The appraisal seems quite reasonable, and definitely takes the cut quality into account. A well cut (by today''s standards) stone would retail for considerably more. In fact, in my opinion, the appraisal is somewhat low in that it reflects what such a diamond might cost from a discounter rather than a full priced jeweler.

If your question is about Fred Cuellar, he''s a controversial guy whose opinion about what constitutes a well cut diamond differs from that of many on this forum. As a result, the mere mention of his name generates a lot of hostility here.

He also offers a product that he calls "bonding" which seems to upset many of the vendors here, though as best as I can tell it''s nothing nefarious, just an insurance product that may or may not make sense for a particular customer.

As with any vendor, you should evaluate Fred''s total product carefully and decide if it makes sense for you.

 

[iluvmydog]

"This is a pretty specific statement. What other opinion are you comparing this to?"

I am comparing it to feedback I received both on here as well as from a few other jewelers-
I had posted a thread on here last week.

I was also asking if others had any experience with DCI. Based on the first person''s response apparently there are.
I will have to look in the archives - I did not realize this person had been discussed.

 

[iluvmydog]

>Is your question about Fred Cuellar or the reasonableness of the appraisal?

It was on both. Whether people had any experiences with him and DCI as well as why there is such
a difference in the values I am getting.

I posted on here last week, sorry should have explained that. I have been told that I can''t expect to get any more then $2000 for my diamond. Another told me we could sell it for about $8900 on consignment and they keep 1/3 of the selling price.

Another jeweler told me it was very poorly cut and he would not even sell a diamond like mine.

 

[denverappraiser]

Fred’s answer was about what he felt was an appropriate price to pay. This is not the same question as asking what can you expect to realize for it if you sell it or how difficult it will be to find an appropriate customer.

Some jewelers do better than others at selling unpopular cuts. Some are very selective about what they will carry and simply avoid stones that don't fit their style. Not all will agree about what makes a stone ‘poor’. All of those ‘don’t know’ answers leaves quite a bit of room for interpretation. $8,900 on consignment is pretty expensive but some stores are good at this. Before you do a consignment deal, get references from others who have been through the process and have walked away happy. There are some risks with this deal. Asking $8,900 is not the same as getting it and agreeing to pay you $5,800 when it sells is not the same as getting a check.

Neil Beaty
GG(GIA) ISA NAJA
Professional Appraisals in Denver

 

[RADIANTMAN]

Date: 1/3/2006 12:54:18 PM
Author: iluvmydog


>Is your question about Fred Cuellar or the reasonableness of the appraisal?

It was on both. Whether people had any experiences with him and DCI as well as why there is such
a difference in the values I am getting.

I posted on here last week, sorry should have explained that. I have been told that I can't expect to get any more then $2000 for my diamond. Another told me we could sell it for about $8900 on consignment and they keep 1/3 of the selling price.

Another jeweler told me it was very poorly cut and he would not even sell a diamond like mine.

Believe it or not, none of those opinions are inconsistent. Fred is presumably telling you what you could buy such a diamond for, not what you, as a consumer, could sell it for.

A reasonable price for a store to pay for a diamond "off the street" is 10 - 20% less than they would pay their regular supplier for such a diamond, or 30-40% less than they could borrow such a diamond for on consignment from a dealer. Obviously, this is quite a bit less than the price that they would sell it for.

Since poorly cut diamonds are less "liquid" than fine makes, the discounts could be even higher. That being said, if the diamond is GIA cerified, you should be able to sell it for a bit more than the $2000 offer - around $2500 - $3000 is probably a fairer ballpark.


If you don't need the $ right away, I'd go with the $8900 consignment guy, though you run the risk of still owning the diamond in a year. In today's competitive market, $8900 seems unrealistically high, but presumably the guy knows his own business.

 

[belle]

Date: 1/3/2006 12:49:55 PM
Author: Radiantman

If your question is about Fred Cuellar, he''s a controversial guy whose opinion about what constitutes a well cut diamond differs from that of many on this forum. As a result, the mere mention of his name generates a lot of hostility here.

He also offers a product that he calls ''bonding'' which seems to upset many of the vendors here, though as best as I can tell it''s nothing nefarious, just an insurance product that may or may not make sense for a particular customer.

As with any vendor, you should evaluate Fred''s total product carefully and decide if it makes sense for you.

yeah..controversial and convicted.
and still on probation for that conviction

 

[NanStacy]

Convicted is right. For trying to use a client''s diamond to pay a debt. His conviction is public record.