European cut, how much???

[extremenovice]

I am thinking about buying a European cut solitaire ring.
The ring was appraised (by an independent jeweler) with
the following result:

14K white gold ring, set with four pairs of prongs
total weight of ring 2.3 pennyweights

1 round European cut diamond 1.10 carats
SI2 clarity
H-I color
All stones graded while mounted

The appraisal value is listed as $7700. There is
no other information on the appraisal.

I took the ring to a place where they buy jewelry,
but was unable to get a quote on actual street value
(the person I needed to talk to was out). While there,
a man looked at the ring and commented that he thought
the carat weight on the appraisal was wrong because
of the European cut. This man suggested that the
appraiser measured the diamond, looked up the measurement
on a round brillant chart and came up with 1.1 carats.
The man suggested the weight was closer to 1.25 carats.
It makes me wonder about the rest of the appraisal
information.

Enough background. Does the appraisal number
seem correct? Assuming the appraisal is
correct, what should I pay for this ring? I am looking
for a general range to help guide me. It is a
beautiful stone that I plan to reset.

Thanks for any help you can give me and for
taking the time to read this long post!

-Linda

 

[Richard Sherwood]

Linda, the information given in the appraisal is very vague, and doesn't give me much confidence in the assessment.

I would recommend first having it appraised by a professional appraiser. Then I would recommend finding out what comparable modern cut stones in that quality can be purchased for, and then deduct about 35% to arrive at an approximate purchase price.

That's just an approximate. The quality of the OEC cut will determine if that 35% should be adjusted up or down.

A good place to find out what comparable modern cut stones are going for on the internet is the PriceScope search engine at the top of your screen.