meandmyarrow
Rough_Rock
- Joined
- May 10, 2016
- Messages
- 7
Hi everyone, I need some advice for determining the resale value of my grandmother’s engagement ring.
My boyfriend and I are ring shopping, and we’re considering this ring (so much sentimental value, plus it's beautiful). It’s owned collectively by mom and her siblings, and we would have to buy it from them for a fair price.
It was appraised last year for just over $95,000. This was an insurance appraisal for retail replacement value. The appraiser is a Graduate Gemologist (GIA). He said it could be sold for "maybe a third."
It’s a classic solitaire with two baguettes, set in platinum. Likely from the 1950’s. Here are the specs:
Center diamond
Round brilliant cut diamond weighing 3.04ct.
Clarity: VS-2 to SI-1
Color: D - E
Cut: Very good
Baguettes
Total weight of two: 0.44ct
Clarity: VVS-1 to VVS-2
Color: D-E
Cut: Very good
There are no lab certifications, and this appraisal is all the information we have. How do we determine a price that is fair to both us and my family? Is it safe to say the resale value is one third of the appraised value ($31,000+), or do we need more information? Could this figure be significantly higher or lower than what this ring would actually sell for?
Do we need to have the diamond GIA certified to really know? I’m worried both about removing the diamond from the setting and the time it would take to have this done (we’ve been ring shopping for months and we’re somewhat impatient).
I didn't know anything about diamonds until I started researching a few months ago. Any guidance would be very much appreciated.
My boyfriend and I are ring shopping, and we’re considering this ring (so much sentimental value, plus it's beautiful). It’s owned collectively by mom and her siblings, and we would have to buy it from them for a fair price.
It was appraised last year for just over $95,000. This was an insurance appraisal for retail replacement value. The appraiser is a Graduate Gemologist (GIA). He said it could be sold for "maybe a third."
It’s a classic solitaire with two baguettes, set in platinum. Likely from the 1950’s. Here are the specs:
Center diamond
Round brilliant cut diamond weighing 3.04ct.
Clarity: VS-2 to SI-1
Color: D - E
Cut: Very good
Baguettes
Total weight of two: 0.44ct
Clarity: VVS-1 to VVS-2
Color: D-E
Cut: Very good
There are no lab certifications, and this appraisal is all the information we have. How do we determine a price that is fair to both us and my family? Is it safe to say the resale value is one third of the appraised value ($31,000+), or do we need more information? Could this figure be significantly higher or lower than what this ring would actually sell for?
Do we need to have the diamond GIA certified to really know? I’m worried both about removing the diamond from the setting and the time it would take to have this done (we’ve been ring shopping for months and we’re somewhat impatient).
I didn't know anything about diamonds until I started researching a few months ago. Any guidance would be very much appreciated.