GIA G 2.17 Triple Ex - $17k - Good price? Let me hear it experts!

[shmurgshmurg]

Hey there experts!

I have been shopping in the diamond district of Miami (the Seybold building), and have come across a nice stone.

It is a 2.17 GIA Cert. G Color SI2 clarity Triple EX stone with no fluoro. The inclusions are not bad, mostly out on the edges and one small needle in the middle. There are no comments outside of the usual, "surface graining not shown," and "pinpoints not shown." I looked up the specifications for AGS0 and the dimensions of ther diamond fit within them.

The owner originally wanted $20k, but I got him down to $17,100, which is 19% off Rap.

Is that a good price for the stone? I really would like to get to around 25% to 35% off Rap, and I think that the only way I will be able to do that is to convince one of the wholesalers upstairs in the building that only sell to retailers, to sell to me.

Being that it is a Triple Ex stone, what is the usual % off Rap that one would try to be within? I want a great deal, but I want to be reasonable.

 

[MissGotRocks]

What are the specs of the stone from the cert?

 

[Allison D.]

I''d suggest you get a bit more info on cut because that price seems quite low for what you''re listing.

Since the range of what qualifies for GIA Ex-Ex-Ex is fairly broad, I''d proceed with caution and get more info.

 

[shmurgshmurg]

Attached to this post please find the GIA report. I blacked out the Cert. number and date etc. (I was told I had too, but not sure if that was really necessary).

What do you think? $17k for this stone?

 

[JulieN]

Price is already good. Get it checked by an independent appraiser.

 

[Lorelei]

Looks promising, appraiser would be the next step. Here is a tool you can use to find one in your area.

https://www.pricescope.com/appr_list.aspx

 

[shmurgshmurg]

How can I get it appraised before I buy it? I saw the diamond at it looks good (but what do I know!).

 

[JulieN]

Does your stone have a return period? Get it appraised within your return period.

A really great appraiser in FL is Richard Sherwood. You can mail it to him if you''re in Miami.

 

[shmurgshmurg]

I am buying it from a wholesaler in Miami. I don''t believe there will be a return policy.

 

[Allison D.]

Date: 10/20/2008 3:45:38 PM
Author: shmurgshmurg
I am buying it from a wholesaler in Miami. I don''t believe there will be a return policy.

Shmurg, wholesalers don''t sell to the public at all. If he does, he isn''t a wholesaler.

Please don''t make a purchase of this magnitude without a reasonable return policy. That''s a huge sum of money to take such a gamble with, especially when there are other avenues available that don''t require such risk on your part.

Do a cut quality search on Pricescope. You''ll see the asking price for a 2.20 I, SI2 is $18,539. I''d wonder why a stone graded two colors higher is nearly $1500 less.

It may be a wonderful stone, so it''s worthy of further consideration IF you can negotiate reasonable terms including a refund period. Doing this will give you the outlet to take it to an independent appraiser who can advise if the stone is a good buy/great cut.

Rich Sherwood of Sarasota (FL) Gem Labs is a very well respected appraiser here on Pricescope; he may be able to refer you to a trusted colleague in the Miami area if you decide to have this stone checked out.

 

[neatfreak]

Date: 10/20/2008 4:26:43 PM
Author: Allison D.

Date: 10/20/2008 3:45:38 PM

Author: shmurgshmurg

I am buying it from a wholesaler in Miami. I don''t believe there will be a return policy.

Shmurg, wholesalers don''t sell to the public at all. If he does, he isn''t a wholesaler.


Please don''t make a purchase of this magnitude without a reasonable return policy. That''s a huge sum of money to take such a gamble with, especially when there are other avenues available that don''t require such risk on your part.


Do a cut quality search on Pricescope. You''ll see the asking price for a 2.20 I, SI2 is $18,539. I''d wonder why a stone graded two colors higher is nearly $1500 less.


It may be a wonderful stone, so it''s worthy of further consideration IF you can negotiate reasonable terms including a refund period. Doing this will give you the outlet to take it to an independent appraiser who can advise if the stone is a good buy/great cut.


Rich Sherwood of Sarasota (FL) Gem Labs is a very well respected appraiser here on Pricescope; he may be able to refer you to a trusted colleague in the Miami area if you decide to have this stone checked out.

Ditto! A retailer (which is what he is if he is selling to the public) with no return policy tells me there is something shady going on.

 

[shmurgshmurg]

I see what you guys are saying. But please explain to me what shady thing could be happening? If I have the GIA cert (which I verified online with reportcheck), and it matches the diamond exactly when viewed through a loop, what else is there?

Couldn''t he just be selling at 19% of Rap because he bought it for 25% off rap? What else could he have up his sleeve that I would regret after the fact?

Regarding wholesalers, I must admit that the line is not so clear. Inside the seybold building in Miami there are about 45 diamond wholesalers that have no showroom, are behind closed doors, and only sell to the retailers throughout the region. However, if you show up, with cash, they won''t turn you down - even if you are just a guy!

One last thing - why is it so important to get the diamond appraised after you buy it (outside of insurance reasons)? Can''t I take confidence in assuming that the diamond quality is what the GIA cert. says it is?

 

[neatfreak]

Date: 10/20/2008 7:13:22 PM
Author: shmurgshmurg
I see what you guys are saying. But please explain to me what shady thing could be happening? If I have the GIA cert (which I verified online with reportcheck), and it matches the diamond exactly when viewed through a loop, what else is there?


Couldn''t he just be selling at 19% of Rap because he bought it for 25% off rap? What else could he have up his sleeve that I would regret after the fact?


Regarding wholesalers, I must admit that the line is not so clear. Inside the seybold building in Miami there are about 45 diamond wholesalers that have no showroom, are behind closed doors, and only sell to the retailers throughout the region. However, if you show up, with cash, they won''t turn you down - even if you are just a guy!


One last thing - why is it so important to get the diamond appraised after you buy it (outside of insurance reasons)? Can''t I take confidence in assuming that the diamond quality is what the GIA cert. says it is?

I wouldn''t take confidence in anything without a return policy...if the diamond is as represented, why would the dealer have a problem with your purchase being contingent on an outside appraisal???

 

[JulieN]

The GIA report is probably over two years old. It could have sustained damage during that time period, making it an I1, which is worth A LOT less than an SI2. This is one possible scenario that would make hiring an independent appraiser and having a return period very important.

 

[Richard Sherwood]

19 back of Rap is a helluva deal. The owner must need to catch up on his bills.

You''ve got a legend of an appraiser right down there in Miami. His name is Joseph Tenhagen. He''s not much on websites, but his contact info is:

36 N.E. 1st St., Ste 419
Miami, Fl. 33132
800-201-0156

 

[neatfreak]

Date: 10/20/2008 11:12:08 PM
Author: Richard Sherwood
19 back of Rap is a helluva deal. The owner must need to catch up on his bills.


You''ve got a legend of an appraiser right down there in Miami. His name is Joseph Tenhagen. He''s not much on websites, but his contact info is:


36 N.E. 1st St., Ste 419

Miami, Fl. 33132

800-201-0156

There ya go. Make the sale contingent on an appraisal from Joseph and if it''s such a fabulous deal you can go for it!

 

[MissGotRocks]

Date: 10/20/2008 11:14:54 PM
Author: neatfreak

Date: 10/20/2008 11:12:08 PM
Author: Richard Sherwood
19 back of Rap is a helluva deal. The owner must need to catch up on his bills.


You''ve got a legend of an appraiser right down there in Miami. His name is Joseph Tenhagen. He''s not much on websites, but his contact info is:


36 N.E. 1st St., Ste 419

Miami, Fl. 33132

800-201-0156

There ya go. Make the sale contingent on an appraisal from Joseph and if it''s such a fabulous deal you can go for it!

Sounds like a solid plan!