Diamond Retail Price Apprasial

[coolspot]

Are appraisers able to give me the "fair market price" for a loose diamond?

I just received a diamond I bought online, but I'm not sure if I over paid for it or not. I have 30 days to return the diamond for a refund

Thanks!

 

[oldminer]

Assuming the diamond has GIA or AGSL papers, you can do a Pricescope search for comparables for free and know if the price you paid was near the right level of normal Internt pricing. You should have done this BEFORE buying it, not now. An appraiser is not even required to check competitive costs for such well documented diamonds. If you bought a diamond with a secondary lab report, or no report at all, then an independent appraiser will prove useful. Ask for an estimate of "Internet Level Retail" and the appraiser will grade the diamond and search the Internet for comparables and arrive at a figure much like what may have actually been paid without an inflated amount added on.

Appraisers don''t readily give low Internet values automatically because many times they do not know where you bought a diamond and just make the appraisal for average retail store pricing in their region. Most consumers love high appraisals in spite of the competitive true range of value being available. One an appraiser knows what your needs are, they should be able to target the right level of the market.

None of these values are "Fair Market Value". FMV is an IRS terminolgy best left for strictly IRS reports. It is complex and problematic to ask for one of these especially when it is not what you need.

 

[Todd Gray]

Date: 12/23/2009 2:18:07 PM
Author:coolspot
Are appraisers able to give me the ''fair market price'' for a loose diamond?

I just received a diamond I bought online, but I''m not sure if I over paid for it or not. I have 30 days to return the diamond for a refund

Thanks!

Ditto what Dave said... Beyond that, did you use the diamond search engine here on Price Scope to simply run a search for diamonds of comparable carat weight, color, clarity, cut precision? The best way to know if you''re paying a price which is reasonable is to determine what other vendors sell diamonds of comparable quality for...

 

[denverappraiser]

An appraiser is describing a particular item and a particular marketplace on a particular date. It’s not a psychic power, it’s just a matter of research. Not all diamonds cost the same and the same diamond in different marketplaces or on different dates won''t cost the same. That''s just capitalism. Discuss with them what marketplace you’re asking about and what your purpose(s) is in seeking out the appraisal and they should be able to help you out. My observation has been that almost always, when an Internet shopper finds that they received less value than was expected, the problem lies in the grading of the stone(s), details not found on the grading report, or the overall craftsmanship of the finished piece.

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