diamond brokers? agents? Seattle? need more advice!

[drewbot]

I found a ring on consignment in Portland, Oregon. It''s a decent deal but i don''t think i''m going to get it. Its on consignment for $1200, has I2 clarity, color I, and "Cut class 3" which I was told is a "fair" cut. The insurance "replacement value" is $3800. I just can''t see it up close so I don''t know if it''s too "fair" of a cut.

So the next one up is in seattle. Its from a private seller who requires local sale only and its not on consignment. So, i''ve basically tried to find diamond dealers or jewelers who will act as an agent. I noticed that a couple of them call themselves brokers but I''m not sure that it is exactly the right term as a broker is a mediator and an agent acts strictly on my behalf.

Anyways are there legit "brokers" or "agents''?

I found a deal which is pretty darn good but it needs a visual once-over. It''s an "eye-clean" rock with no appraisal and a fairly uninformed seller. I talked to the seller for quite a while- he purchased the ring at Macy''s for $3700 and the Macy''s jewelry dept claimed it to be appraised at over $10,000. He took it to a jeweler recently for a "second" opinion and the jeweler vouched for its excellent quality. The selling price is $1200. Usually a shop like Macy''s won''t sell a diamond for less than 80% of its appraised value, I would think, unless perhaps it was shutting down. I don''t have a clue what kind of rinky dink appraisal it could be but that''s not the point! I would really like a nice eye-clean diamond at this point and this guy sounds like he is selling it because he has a wife already. In other words things in not-working-out-land sound pretty steamy on his end.

So any ideas on where i can find an agent to act on my behalf to inspect and purchase the ring for me? I did a google search and found that there are indeed these people, but I know nothing of them!

 

[MichelleCarmen]

Usually a shop like Macy''s won''t sell a diamond for less than 80% of its appraised value, I would think, unless perhaps it was shutting down.

Macy''s IS actually clearancing all their jewelry at huge discounts in their department right now because they''re bringing in ALL new stock. There are huge discounts to be found IF you were inclined to purchase from them or at least compare prices! That is for the Seattle area stores. Not sure about elsewhere.

That said, you think the guy is selling the diamond "because he has a wife already?" So once a guy gets a wife, he purges all his diamonds? Sounds like he''s hard up in this economy like many others and desperate to sell. Even if he is giving you a great deal on a surface, most likely the diamond isn''t very good. Macy''s isn''t known for their excellent quality jewelry.

 

[drewbot]

Thanks for the info!

So what I meant was that, when I talked to him on the phone, I was trying to politely and unobviously probe him for info. You know, when a deal sounds too good to be true it probably isn''t, so I had to feel the situation out. Anyways, it sounded to me like his wife (and son) has him on a very short leash because he had probably just recently crawled back to her after being rejected by some second interest. I wouldn''t be holding onto that ring for too long either if I were him, you know. Sounds like a guy trying to repair his marriage rather than a diamond salesman.

Even a macy''s grade diamond is cool with me. Probably beats the specs I gave you to compare for the consignment ring in portland. I will try to re-size and attach the grading report for the portland ring (Adobe Reader is being naughty right now).

 

[denverappraiser]

What you’re looking for is an appraiser, not a broker. There’s a list of them at the top right corner of the page under ‘resources’.

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

 

[drewbot]

Date: 1/6/2009 12:26:46 PM
Author: denverappraiser
What you’re looking for is an appraiser, not a broker. There’s a list of them at the top right corner of the page under ‘resources’.

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

Thanks for your reply. Perhaps you''re correct- but to be clear I''m nowhere near seattle! I need someone to inspect/purchase the rock on my behalf.

 

[drewbot]

Attached portland ring appraisal. This is the one i think is not really good enough but can''t exactly tell without inspection

Sorry for the extra post. attaching file isn''t working on edit!

 

[denverappraiser]

Date: 1/6/2009 12:40:40 PM
Author: drewbot

Date: 1/6/2009 12:26:46 PM

Author: denverappraiser

What you’re looking for is an appraiser, not a broker. There’s a list of them at the top right corner of the page under ‘resources’.


Neil Beaty

GG(GIA) ICGA(AGS) NAJA

Professional Appraisals in Denver

Thanks for your reply. Perhaps you're correct- but to be clear I'm nowhere near seattle! I need someone to inspect/purchase the rock on my behalf.

That shouldn't be a problem. I can't speak for the folks in Seattle but I and other appraisers I know do this regularly. Someone from out of town will hire me to look at something that's in the possession of someone here. The seller comes in, I do an inspection while they wait and watch and I deliver the report to the client via email. They work out whatever deal they want between themselves. The appraiser can even act as something of an escrow agent where, when the deal is done, the seller comes back in, the appraiser confirms that the piece hasn't been altered since the first inspection, they hand over the payment (usually cash or a cashiers check) and they arrange for the shipment to wherever you are.

The problem with using a jeweler in this situation is not that they don't have the skills or tools, that will depend on the individual jeweler or 'broker' but that you are, by definition, competing with things they're selling for themselves or on behalf of other clients. This is a significant conflict of interest.

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

 

[drewbot]

Date: 1/6/2009 12:54:44 PM
Author: denverappraiser

Date: 1/6/2009 12:40:40 PM
Author: drewbot

Date: 1/6/2009 12:26:46 PM

Author: denverappraiser

What you’re looking for is an appraiser, not a broker. There’s a list of them at the top right corner of the page under ‘resources’.


Neil Beaty

GG(GIA) ICGA(AGS) NAJA

Professional Appraisals in Denver

Thanks for your reply. Perhaps you''re correct- but to be clear I''m nowhere near seattle! I need someone to inspect/purchase the rock on my behalf.

That shouldn''t be a problem. I can''t speak for the folks in Seattle but I and other appraisers I know do this regularly. Someone from out of town will hire me to look at something that''s in the possession of someone here. The seller comes in, I do an inspection while they wait and watch and I deliver the report to the client via email. They work out whatever deal they want between themselves. The appraiser can even act as something of an escrow agent where, when the deal is done, the seller comes back in, the appraiser confirms that the piece hasn''t been altered since the first inspection, they hand over the payment (usually cash or a cashiers check) and they arrange for the shipment to wherever you are.

The problem with using a jeweler in this situation is not that they don''t have the skills or tools, that will depend on the individual jeweler or ''broker'' but that you are, by definition, competing with things they''re selling for themselves or on behalf of other clients. This is a significant conflict of interest.

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

Thanks!

I certainly didn''t know that this was something that appraisers are willing to do. Now I will have to call around and see who is willing to do this for me. I''m probably going to need the appraiser to be "somewhat" of an escrow agent. I would like for it to be an on the spot 1 time transaction where the escrow agent has payment ready. Not sure if that would work out. Will keep all of you posted. Thanks again for all the help!

 

[MichelleCarmen]

Date: 1/6/2009 12:47:45 PM
Author: drewbot
Attached portland ring appraisal. This is the one i think is not really good enough but can''t exactly tell without inspection

Sorry for the extra post. attaching file isn''t working on edit!

You''re right that that diamond isn''t "good enough." I''d definelty steer clear of that ring! I-2 is pretty much that bottom of the barrell and cut class 3 is considered "fair." Keep searching and good luck.

 

[drewbot]

Date: 1/6/2009 5:01:13 PM
Author: MC

Date: 1/6/2009 12:47:45 PM
Author: drewbot
Attached portland ring appraisal. This is the one i think is not really good enough but can''t exactly tell without inspection

Sorry for the extra post. attaching file isn''t working on edit!

You''re right that that diamond isn''t ''good enough.'' I''d definelty steer clear of that ring! I-2 is pretty much that bottom of the barrell and cut class 3 is considered ''fair.'' Keep searching and good luck.

Yeah, that''s what I decided for the portland ring. I got a fella who is willing to play ball in Seattle: http://www.richardpaillejewelry.com/

Richard was willing to evaluate the ring and advise me on it, and send it out. He is a GIA certed guy who apparently teaches a few classes on evaluating gems and pearls. The seller is willing to play ball long distance as well. It''s not exactly escrow - the seller is willing to leave it with the jeweler until i''m advised on it.

Hopefully this is the one *crosses fingers*

 

[swingirl]

Richard Paille seems to have nice pearl jewelry but are you asking him to evaluate a diamond ring? I guess he offers broker service on stones but seems to be more of a designer.

 

[drewbot]

Well he has a long history as a jewler but he''s listed on teachstreet:

"I’m a graduate of the G.I.A. (Gemological Institute of America) and have worked with diamonds in my jewelry business for 38 years. I continue working full time in this capacity today."

Also, he teaches a course called "DIAMONDS: How To Grade & Buy Diamonds" which is $265 and he apparently shows excellent reviews on his courses. He operated a wedding jewelry shop from 1973 to 1995 in Seattle but decided that he liked making jewelry more than operating a business.

On the phone he sounded very knowledgable and clear about what he is able to do; also, he knows his contract law well. Hey I trust his judgement bettter than my own anyways; hell, he has been hawking rocks for much longer than I''ve been alive.

 

[Dancing Fire]

Date: 1/6/2009 11:51:01 AM
Author:drewbot
I found a ring on consignment in Portland, Oregon. It''s a decent deal but i don''t think i''m going to get it. Its on consignment for $1200, has I2 clarity, color I, and ''Cut class 3'' which I was told is a ''fair'' cut. The insurance ''replacement value'' is $3800. I just can''t see it up close so I don''t know if it''s too ''fair'' of a cut.

drew,stop dreaming...
if i were you i would buy her a beautiful H&A .50ct G SI1 from GOG for $1200 and save the appraisal fee.

 

[EricaR]

Date: 1/6/2009 8:55:19 PM
Author: Dancing Fire

Date: 1/6/2009 11:51:01 AM
Author:drewbot
I found a ring on consignment in Portland, Oregon. It''s a decent deal but i don''t think i''m going to get it. Its on consignment for $1200, has I2 clarity, color I, and ''Cut class 3'' which I was told is a ''fair'' cut. The insurance ''replacement value'' is $3800. I just can''t see it up close so I don''t know if it''s too ''fair'' of a cut.

drew,stop dreaming...
if i were you i would buy her a beautiful H&A .50ct G SI1 from GOG for $1200 and save the appraisal fee.

I think he said that he''s already crossed that one off his list.

 

[Dancing Fire]

Date: 1/7/2009 1:18:36 AM
Author: EricaR

Date: 1/6/2009 8:55:19 PM
Author: Dancing Fire

Date: 1/6/2009 11:51:01 AM
Author:drewbot
I found a ring on consignment in Portland, Oregon. It''s a decent deal but i don''t think i''m going to get it. Its on consignment for $1200, has I2 clarity, color I, and ''Cut class 3'' which I was told is a ''fair'' cut. The insurance ''replacement value'' is $3800. I just can''t see it up close so I don''t know if it''s too ''fair'' of a cut.

drew,stop dreaming...
if i were you i would buy her a beautiful H&A .50ct G SI1 from GOG for $1200 and save the appraisal fee.

I think he said that he''s already crossed that one off his list.

good ! that stone is

 

[drewbot]

Well, the evaluation is $40. I have my doubts that this one will work for me, but at least I''m playing it safe. My price point will be going up really fast if this one isn''t right for me.