Deal of a life time? Novice here seeking help please

[fcruz420]

Hello All,

Here's the long story short. I have a 5K budget with some ring specs in mind. Thoughts of my budget were .80-1.00 carat, G or H, VS1 or VS2 with an ideal cut. However, a colleague of mine is selling an old engagement she has. Shes been engaged a numerous amount of times and decided to show me her best old ring she is willing to part with.

Preowned Ring Specs:
- Purchased 8 years ago.
- Setting is 4 prong 14k white gold.
- No certifications, only a receipt.
- Brilliant cut 2 carat round.
- Near colorless diamond with SI clarity.
- 0.42 carats round side stones

She is asking for my budget price and had no previous knowledge of my numbers. I took some video footage and pictures of the diamond. I know I need an independent appraisal, but trying to figure out if she will allow me to get it appraised. I can see some inclusions near the prong setting, but im fairly new to this.

Any suggestions would be greatly appreciated. Thanks in advance for time and assistance. Looking forward to replies

 

[Dancing Fire]

really hard to guess w/o a lab report.

 

[fcruz420]

really hard to guess w/o a lab report.

Thanks Dancing Fire. I'm trying to determine if and how my colleague would allow me to send the stones to a lab. I will update everyone tomorrow.

Side note, I know a colleague in a BM retail store that I shop at. Would it be wise to have her "spot check it"? Sorry if my terminology is off.

 

[JulieN]

It doesn't look hideous, so could be worth checking out. Take it to an independent appraiser.

 

[denverappraiser]

Start with an appraisal. Acutally, SHE should start with an appraisal, which she may already have done and is just sandbagging the results. Tiny details make a BIG difference. You need to know what it is before you can even begin to make a bid. Even if she provides a document, you may want to get one yourself but that's another discussion. Values range by at least a factor of 5 based purely on details that you can't see without magnification and that most people wouldn't recognize without having them pointed out. By the way, I would not recommend sending in to the lab, or at least not recommend YOU send it to the lab. That requires taking it out of the setting, shipping across the country and waiting on the order of a month. That's her job, not yours.

 

[denverappraiser]

It doesn't look hideous, so could be worth checking out. Take it to an independent appraiser.

Thats a pretty low standard, eh?

 

[fcruz420]

Thanks JulieN and Denverappraiser. I reside in North NJ and not too far from NYC diamond district so will google independent appraisers in my area. I asked and she advised she only has the sales receipt and the ring. The ring was purchased from a store in the diamond district NYC (not sure if I can post the business name here).

 

[Niel]

It seems like the center and sides don't match. That would bother me looking at it all the time

 

[MsP]

I think there is potential for you to get a good deal-- but remember that a deal is only a deal if you are happy with what you're buying.

Do you think your GF will be okay with a pre-loved (used) ring? Just something to think about.

Let us know what the appraisal comes back with.

 

[fcruz420]

It seems like the center and sides don't match. That would bother me looking at it all the time

Thanks Nielseel. It might be the angle of which the pics were taken, but im not sure. Let me see if I can find a better top view from the pics I've taken.

 

[two_little_birds]

It seems like the center and sides don't match. That would bother me looking at it all the time

I agree. The center stone is much more tinted than the two side (or by the pictures anyways).

 

[fcruz420]

I think there is potential for you to get a good deal-- but remember that a deal is only a deal if you are happy with what you're buying.

Do you think your GF will be okay with a pre-loved (used) ring? Just something to think about.

Let us know what the appraisal comes back with.

This is a good one Ms P. To be honest im happy purchasing anything within budget that will put a smile on her face forever . Now the pre-loved ring (used) shouldnt be an issue as my intentions are solely for the center stone. If all goes well and a deal is made - I will have it placed in a different setting and sell the side stones and original pre-loved setting. Regarding appraisal, I searched the referred vendors list on this site and they're all 50+ miles from my area. (07070)

This might be a silly question, but can I walk into any local jewelery store and have them appraise it on the spot for me?

 

[MsP]

I think there is potential for you to get a good deal-- but remember that a deal is only a deal if you are happy with what you're buying.

Do you think your GF will be okay with a pre-loved (used) ring? Just something to think about.

Let us know what the appraisal comes back with.

This is a good one Ms P. To be honest im happy purchasing anything within budget that will put a smile on her face forever . Now the pre-loved ring (used) shouldnt be an issue as my intentions are solely for the center stone. If all goes well and a deal is made - I will have it placed in a different setting and sell the side stones and original pre-loved setting. Regarding appraisal, I searched the referred vendors list on this site and they're all 50+ miles from my area. (07070)

This might be a silly question, but can I walk into any local jewelery store and have them appraise it on the spot for me?

It's your choice. A local store might be able to give you an opinion but don't take it as gospel. They may also be able to do an appraisal but it will probably not be on the spot. Their review will not be as thorough or trusted as a GIA cert or an appraisal done by one of the big names. It all depends on the level of confidence you need to move forward with a purchase.

Some PSer's want to know that a stone rates with a particular color, clarity, cut grade, etc. Others are happy that a stone is beautiful and "sings to them".

 

[fcruz420]

The seller is thinking about letting me take it to be appraised. She doesnt want to do it. Things that make you go hmmmm lol. Anywho this forums ROCKS!!! Thanks all for the input thus far. Youre all on it!!

Here are two top pics I have of the ring.

I will keep everyone posted as soon as i receive further details.

 

[fcruz420]

It seems like the center and sides don't match. That would bother me looking at it all the time

I agree. The center stone is much more tinted than the two side (or by the pictures anyways).

Thanks Two little birds. Hopefully the two additional images provides a better view?

 

[LibbyLA]

fcruz420,

Offer to pay for the appraisal. Tell the appraiser why you are getting the appraisal and keep in mind that appraisal values are often at full retail, which is much higher than you'd pay for the same diamond online, and much higher than you'd expect to pay for a "preloved" diamond.

You'll want at minimum the weight, measurements, color, and clarity. You probably won't be able to get the various angles which help tell the quality of the cut. There are some photos and tests that can be done for light return (ASET, idealscope, etc.) that can help determine whether it's a well-cut diamond.

With the weight, measurements, color, and clarity known, you can use the search engine here to see what diamonds with comparable specs are selling for, which at least gives you a baseline for pricing. You won't have a return policy or an upgrade policy or any of the whistles and bells that you get from a retailer so this will have to be a real bargain.

liz

 

[lovebug1031]

I think there is potential for you to get a good deal-- but remember that a deal is only a deal if you are happy with what you're buying.

Do you think your GF will be okay with a pre-loved (used) ring? Just something to think about.

Let us know what the appraisal comes back with.

This is a good one Ms P. To be honest im happy purchasing anything within budget that will put a smile on her face forever . Now the pre-loved ring (used) shouldnt be an issue as my intentions are solely for the center stone. If all goes well and a deal is made - I will have it placed in a different setting and sell the side stones and original pre-loved setting. Regarding appraisal, I searched the referred vendors list on this site and they're all 50+ miles from my area. (07070)

This might be a silly question, but can I walk into any local jewelery store and have them appraise it on the spot for me?

Just my .02 you could always keep the sides and reset them as earrings for your sonn to be fiance on your wedding day! Also, if you purchase, and the cut isn't that great you could always have it recut (assuming its a good candidate!)

 

[fcruz420]

Thanks Lovebug1031. Thats a cool idea.

 

[fcruz420]

fcruz420,

Offer to pay for the appraisal. Tell the appraiser why you are getting the appraisal and keep in mind that appraisal values are often at full retail, which is much higher than you'd pay for the same diamond online, and much higher than you'd expect to pay for a "preloved" diamond.

You'll want at minimum the weight, measurements, color, and clarity. You probably won't be able to get the various angles which help tell the quality of the cut. There are some photos and tests that can be done for light return (ASET, idealscope, etc.) that can help determine whether it's a well-cut diamond.

With the weight, measurements, color, and clarity known, you can use the search engine here to see what diamonds with comparable specs are selling for, which at least gives you a baseline for pricing. You won't have a return policy or an upgrade policy or any of the whistles and bells that you get from a retailer so this will have to be a real bargain.

liz

Thanks LibbyLA. If i get the green light I will mention all of the above.

 

[Niel]

If you are confortable with lower colored stones, (which this stone looks like) you can get a nice sized well cut stone for that budget. Then you wouldn't have to worry about an appraisal or if the stone can be recut or not ( they can't always)

http://www.exceldiamonds.com/Diamonds-1/GIA-Graded-Round-Diamond-1-32-Carat-L-Color-VS2-Clarity-228072.html

 

[JulieN]

It doesn't look hideous, so could be worth checking out. Take it to an independent appraiser.

Thats a pretty low standard, eh?

haha. hard to judge from pictures sometimes. 2 cts for 5000 is awful tempting!

 

[04diamond<3]

I think there is potential for you to get a good deal-- but remember that a deal is only a deal if you are happy with what you're buying.

Do you think your GF will be okay with a pre-loved (used) ring? Just something to think about.

Let us know what the appraisal comes back with.

This is a good one Ms P. To be honest im happy purchasing anything within budget that will put a smile on her face forever . Now the pre-loved ring (used) shouldnt be an issue as my intentions are solely for the center stone. If all goes well and a deal is made - I will have it placed in a different setting and sell the side stones and original pre-loved setting. Regarding appraisal, I searched the referred vendors list on this site and they're all 50+ miles from my area. (07070)

This might be a silly question, but can I walk into any local jewelery store and have them appraise it on the spot for me?

Just my .02 you could always keep the sides and reset them as earrings for your sonn to be fiance on your wedding day! Also, if you purchase, and the cut isn't that great you could always have it recut (assuming its a good candidate!)

I love this idea!!! Recutting is I believe (you should still check with vendors that do this, like Good Old Gold or Brian Gavin Diamonds), $350 per carat...so maybe an extra $700ish to have a perfectly cut diamond!!!! Totally worth it in my opinion! I would get in contact with either vendor.

 

[Niel]

I think there is potential for you to get a good deal-- but remember that a deal is only a deal if you are happy with what you're buying.

Do you think your GF will be okay with a pre-loved (used) ring? Just something to think about.

Let us know what the appraisal comes back with.

This is a good one Ms P. To be honest im happy purchasing anything within budget that will put a smile on her face forever . Now the pre-loved ring (used) shouldnt be an issue as my intentions are solely for the center stone. If all goes well and a deal is made - I will have it placed in a different setting and sell the side stones and original pre-loved setting. Regarding appraisal, I searched the referred vendors list on this site and they're all 50+ miles from my area. (07070)

This might be a silly question, but can I walk into any local jewelery store and have them appraise it on the spot for me?

Just my .02 you could always keep the sides and reset them as earrings for your sonn to be fiance on your wedding day! Also, if you purchase, and the cut isn't that great you could always have it recut (assuming its a good candidate!)

I love this idea!!! Recutting is I believe (you should still check with vendors that do this, like Good Old Gold or Brian Gavin Diamonds), $350 per carat...so maybe an extra $700ish to have a perfectly cut diamond!!!! Totally worth it in my opinion! I would get in contact with either vendor.

I would juts caveat this by saying not all stones are candidates for recuts. Maybe just make the purchase dependant on if its able to be recut? the same as saying the purchase is dependant on appraisal

 

[fcruz420]

If you are confortable with lower colored stones, (which this stone looks like) you can get a nice sized well cut stone for that budget. Then you wouldn't have to worry about an appraisal or if the stone can be recut or not ( they can't always)

http://www.exceldiamonds.com/Diamonds-1/GIA-Graded-Round-Diamond-1-32-Carat-L-Color-VS2-Clarity-228072.html

Cool looking stone Nielseel. Love the fact that it has paperwork. If this deal falls through then I will resort back to searching for my original specs. Thanks

 

[fcruz420]

It doesn't look hideous, so could be worth checking out. Take it to an independent appraiser.

Thats a pretty low standard, eh?

haha. hard to judge from pictures sometimes. 2 cts for 5000 is awful tempting!

Lol my thoughts exactly JulieN. That 2carat stone is soooooo tempting, but I dont want to end up being the sucker that was born yesterday lol.

 

[fcruz420]

I love this idea!!! Recutting is I believe (you should still check with vendors that do this, like Good Old Gold or Brian Gavin Diamonds), $350 per carat...so maybe an extra $700ish to have a perfectly cut diamond!!!! Totally worth it in my opinion! I would get in contact with either vendor.

Thanks 04Diamond
Called up GOG and they do offer a recutting service. I sent the diamond/sales team an email for further details.

 

[04diamond<3]

I love this idea!!! Recutting is I believe (you should still check with vendors that do this, like Good Old Gold or Brian Gavin Diamonds), $350 per carat...so maybe an extra $700ish to have a perfectly cut diamond!!!! Totally worth it in my opinion! I would get in contact with either vendor.

Thanks 04Diamond
Called up GOG and they do offer a recutting service. I sent the diamond/sales team an email for further details.

That's GREAT!!! You'll loose a bit of it, but it will probably come out to a 1.8 or 1.85ish carat which is still really really nice and a steal at 5k! Even 6k!!!!! Please let us know what happens!

 

[Christina...]

I would advice against having a local jeweler do an appraisal for you. It possible, perhaps even likely that they will attempt to dissuade you from making the purchase and tempt you with something in their case which they will then claim is a better quality....which of course wont necessarily be true. You really need an independent appraisal done by someone with absolutely no interest in the stone, the seller or whether or not you decide to purchase it or not.

 

[CharmyPoo]

I agree .. only take it to an independent appraiser to get some basic specs like weight, color, clarity, etc.

From the photo, I think the ring looks lovely and it sounds like a great price. Are there any visible inclusions?

 

[fcruz420]

I agree .. only take it to an independent appraiser to get some basic specs like weight, color, clarity, etc.

From the photo, I think the ring looks lovely and it sounds like a great price. Are there any visible inclusions?

Thanks Christina and CharmyPoo. I'm still awaiting a response from the seller to see if they will allow it. The center stone is not "eye clean". I believe my novice eye saw two inclusions. one on the table and another by the crown angle.