Fair value of diamonds at auctions

[chelsey]

I saw a bid on a diamond on BIDZ.com. I want to know why do they have such a HIGH close now price of +50K.
What price would the appraisers have paid for such a ring. Information on this ring is available at

http://web-1.bidz.com/productDisplay.php?lotid=5983495

I saw a ring for close out price for 112,000. They seem outrageous or I just do not enough about diamonds.

 

[Diamondsbybree]

Bidz.com sells alot of commercial quality stones and jewelry.
And the prices they give for an estimated retail value are completely ridiculous~! That ring is no where near $50,000....

Maybe $1000.....

Please think carefully before purchasing from them.

 

[denverappraiser]

chelsey,

The 'close out price' is an offer to sell. Asking for $50,000 and getting $50,000 are not the same thing. They are welcome to ask whatever they like for their merchandise but this doesn't make it a good idea to shop there, even if they actually sell at a substantial discount from the original offer. Many stores use this tactic but Bidz.com seems to be more aggressive than most. This estimate looks, ummm, optimistic.

Neil Beaty GG, ISA
Independent Appraisals in Denver
www.gemlab.us

 

[blitz]

I'm not quite sure what your asking when you say " What price would the appraisers have paid for such a ring" ?

 

[chelsey]

What would you have paid for it tp purchase this same diamond?????

 

[valeria101]

These quotes are ridiculeos to say the least! (ok, think, "sameless"!)

For many these diamonds would not be suitable for jewelry at all at these grades and even on Pricescope's database the center diamond would come at around 2k. The diamond selection page at Blue Nile makes a greta tool to learn quickly what range of diamonds could be had at a given price range.

The rest of the ring could not be more tha 1k... But again, I would think thrice before handing any amount on it given the low grades and the uncertain color, clarity and weigt ranges. There are much better shops on the net these days, and I do not mean only around Pricescope. Actually, there are so many question marks in the presentation of that ring that almost any other online shopw would look great in comparison

I sincerely thing that a quick read though the tutorial here would be of great help

 

[Diamondsbybree]

For that particular I2 diamond? Alot less than what it sold for.

 

[noobie]

chelsey,




I infer from your posts that you are looking to buy diamond jewelry on the internet and resell it locally. I would think if you are planning to do that, you could ask the experts how best to get into the trade. In my non expert opinion, I think you would better off trying to establish relationships with the wholesalers of these kinds of things rather than trying to arbitrage retail.




good luck at wahtever you are looking to do