How did I do? Round 2.51 Carat SI1, J - $9400

[troutmd]

I was searching for about a 2 carat round cut diamond, primairly looking at SI2 and I color. I ran across a diamond on Craigslist in a town I was passing on a trip and ended up buying it.

It has an 'apprasial' from a small store in CO that lists it as: Round Brilliant Cut, 2.51 Carat, Color J, Clarity SI1.

I met the guy at a jewlery store. Had it confirmed as 'real' and the worker there says he would call it a VS2 and agrees with the color. The diamond certainly had lots of fire and caught my eye from the get go.

I bought the stone, paid the guy $9400 cash. The jewler said I got a bargain.

I have had the stone into 3 more shops... everyone has said SI1 to VS2 and everyone agrees on color J. Everyone also agrees it has lots of fire and sparkle. There is certainly nothing to be seen with the naked eye. There is one 'light feather' deep below the table; they have said if it was not for that, or if it was more off center, it would easily be a VS2+. All the jewlers have got wide eyed when I mentioned what I paid. They said I got a great deal and they could not get close to that price for a similiar stone...

Its set in a very cheap white gold setting. I am looking for a new setting now.

I certainly think it is a 'very pretty' ring with lots of fire. I plan on getting the full measurments and angles when I have it unmounted for the new setting.

My big question is how did I do on the price at $9400?

Additional Info: There is NO 'official' cert on this diamond. There simply was an 'apprasial' sheet from a mom and pop jewler. I have had 3 other jewlers look at the stone who all agree its a J color and they say VS2 to SI1 on clarity. I have NO measurements as it is mounted. There are no inscriptions on the diamond. All three jewlers also see no evidence of 'enhancements'.

Either way, I am happy with the stone.

 

[Lorelei]

Date: 1/21/2009 3:54:38 PM
Author:troutmd
I was searching for about a 2 carat round cut diamond, primairly looking at SI2 and I color. I ran across a diamond on Craigslist in a town I was passing on a trip and ended up buying it.

It has an 'apprasial' from a small store in CO that lists it as: Round Brilliant Cut, 2.51 Carat, Color J, Clarity SI1.

I met the guy at a jewlery store. Had it confirmed as 'real' and the worker there says he would call it a VS2 and agrees with the color. The diamond certainly had lots of fire and caught my eye from the get go.

I bought the stone, paid the guy $9400 cash. The jewler said I got a bargain.

I have had the stone into 3 more shops... everyone has said SI1 to VS2 and everyone agrees on color J. Everyone also agrees it has lots of fire and sparkle. There is certainly nothing to be seen with the naked eye. There is one 'light feather' deep below the table; they have said if it was not for that, or if it was more off center, it would easily be a VS2+.

Its set in a very cheap white gold setting. I am looking for a new setting now.

I certainly think it is a 'very pretty' ring with lots of fire. I plan on getting the full measurments and angles when I have it unmounted for the new setting.


My big question is how did I do on the price at $9400?

Welcome!

We really need more info to help you on price, does the diamond have a grading report such as GIA? It might be best to get an independant appraisal by someone who does not sell jewellery to give you an unbiased opinion. Here is a tool you can use to find an appraiser in your area.

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

 

[Allison D.]

Date: 1/21/2009 3:54:38 PM
Author:troutmd

All the jewlers have got wide eyed when I mentioned what I paid. They said I got a great deal and they could not get close to that price for a similiar stone...
My big question is how did I do on the price at $9400?



Trout, I'm not sure I understand what you're asking. Do you feel confident in the several other jewelers who've already told you you got a great deal? If so, and you clearly love the stone, then I think all we can add is "Congratulations!"

I'm sure she'll love it.

 

[JulieN]

Neil (appraiser) is in Denver. http://journal.pricescope.com/Authors/6/Neil-Beaty.aspx

 

[neatfreak]

Date: 1/21/2009 4:59:23 PM
Author: JulieN
Neil (appraiser) is in Denver. http://journal.pricescope.com/Authors/6/Neil-Beaty.aspx

Ditto.

 

[Rockdiamond]

I''m with Allison- if you love it, congrats!

Since you did come to get a more specific answer...
It''s highly unlikely that the diamond would grade J/SI1 from GIA- unless it got a Fair, or Poor cut grade.
I say this because a 2 and half carat J/Si1 EX or VG cut grade diamond, if it was graded by GIA would be worth a lot more.

Unless the jeweler is in real trouble ( possible) or they don''t have any idea of the market price of such a stone ( unlikely if they are in the business) they would probably not sell so far below market.
That does not mean it''s not beautiful- or even a good deal.
For example, if it''s a true L color, it could be killer nice- and be more feasible at the price......

 

[neatfreak]

Date: 1/21/2009 5:08:49 PM
Author: Rockdiamond
I''m with Allison- if you love it, congrats!


Since you did come to get a more specific answer...

It''s highly unlikely that the diamond would grade J/SI1 from GIA- unless it got a Fair, or Poor cut grade.

I say this because a 2 and half carat J/Si1 EX or VG cut grade diamond, if it was graded by GIA would be worth a lot more.


Unless the jeweler is in real trouble ( possible) or they don''t have any idea of the market price of such a stone ( unlikely if they are in the business) they would probably not sell so far below market.

That does not mean it''s not beautiful- or even a good deal.

For example, if it''s a true L color, it could be killer nice- and be more feasible at the price......

He bought it from craigslist not from a store.

 

[troutmd]

I guess I should be more clear...

I bought this from an individual in need of 'cash more than the stone'. He bought it several years ago and says he paid near 11 for it; he bought it on consigment in a small jewlery repair shop somewhere in CO. He was asking 11, I talked him down to 9400...

I simply met him at a jewler to confirm its a diamond and to confirm the specs were close...

The jewler I met him at said he could not touch that stone for that price...

I dunno why I am posting on here; I guess additional pats on the back for getting a decent deal?


GIA... I would be willing to send the stone to them for an 'official' grade. Whats the avg cost and can I do this as a consumer? If its a few hundred bucks and safe to do, I am willing to send it in...

As far as the stone and this purchase... you just have to know me. I bought this in my typical bargain fashion... I'll loved telling the story about meeting the guy in a parking lost and shelling out the cash in the jewlery store...All my buddies said I was crazy doing this. I'll be the one laughing when it turns out I have a 20K stone.. (or whatever its worth).

 

[Rockdiamond]

Ah- my mistake, excuse me!

It sounds like it would really be worthwhile sending the diamond to GIA.
NO appraisal holds the same weight.....

 

[emeraldlover1]

Date: 1/21/2009 5:14:50 PM
Author: troutmd
I guess I should be more clear...

I bought this from an individual in need of ''cash more than the stone''. He bought it several years ago and says he paid near 11 for it; he bought it on consigment in a small jewlery repair shop somewhere in CO. He was asking 11, I talked him down to 9400...

I simply met him at a jewler to confirm its a diamond and to confirm the specs were close...

The jewler I met him at said he could not touch that stone for that price...

I dunno why I am posting on here; I guess additional pats on the back for getting a decent deal?


GIA... I would be willing to send the stone to them for an ''official'' grade. Whats the avg cost and can I do this as a consumer? If its a few hundred bucks and safe to do, I am willing to send it in...

As far as the stone and this purchase... you just have to know me. I bought this in my typical bargain fashion... I''ll loved telling the story about meeting the guy in a parking lost and shelling out the cash in the jewlery store...All my buddies said I was crazy doing this. I''ll be the one laughing when it turns out I have a 20K stone.. (or whatever its worth).

I''d send it in to GIA to be sure.

Look, you took a big gamble. I hope it works out for you. It may be a fun story to tell your friends but what if it turns out you got no deal at all? Does it make the diamond or its meaning any less special?

My point is that if you love it then don''t worry about it. I hope for your sake you got lucky! I''m glad you talked him down because paying what the guy you bought it from paid for it is just silly for a pre-owned already set piece.

Just for reference sake I believe that today a 2.5 J SI1 GIA graded diamond should be about $14-$16k. On the other hand a 2.5 J SI1 EGL will run you right around what you paid for it, Between $8500 - $10k. Since your stone is ungraded its possible it falls into the later category which would simply mean you got the setting for free.

I hope this is helpful. Good luck. Let us know if you decide to send it to GIA. Good deals are hard to come by so I hope you got one!

 

[JulieN]

Date: 1/21/2009 5:14:50 PM
Author: troutmd

I dunno why I am posting on here; I guess additional pats on the back for getting a decent deal?

Post pictures.

 

[Blinginator]

Date: 1/21/2009 5:14:50 PM
Author: troutmd
GIA... I would be willing to send the stone to them for an ''official'' grade. Whats the avg cost and can I do this as a consumer? If its a few hundred bucks and safe to do, I am willing to send it in...

As far as the stone and this purchase... you just have to know me. I bought this in my typical bargain fashion... I''ll loved telling the story about meeting the guy in a parking lost and shelling out the cash in the jewlery store...All my buddies said I was crazy doing this. I''ll be the one laughing when it turns out I have a 20K stone.. (or whatever its worth).

Go to www.gia.edu. There you will find more info about sending in a diamond to get graded. Costs vary by carat weight and the best way to send it is by USPS registered mail.

 

[Dancing Fire]

Date: 1/21/2009 3:54:38 PM
Author:troutmd

My big question is how did I do on the price at $9400?

Additional Info: There is NO ''official'' cert on this diamond. There simply was an ''apprasial'' sheet from a mom and pop jewler. I have had 3 other jewlers look at the stone who all agree its a J color and they say VS2 to SI1 on clarity. I have NO measurements as it is mounted. There are no inscriptions on the diamond. All three jewlers also see no evidence of ''enhancements''.

Either way, I am happy with the stone.

yes,send the stone to GIA and you cross your fingers and toes.

 

[Sharon101]

By the sounds of things it is NOT a bad buy. Meaning, it sounds like it was not a purchase where you got ripped off or anything like that.

And, in the real world, it will always be appreciated more than here, because in the real world size does count for almost everything!!!!! (Edited to add.....Im not including frozen spit, white fog diamonds in my generalisation, just normal garden variety spakly ones). Very few people look further than size because in the real world, we usually just get a passing glanse on a moving hand when seeing diamonds. Plus, most people walk around with dirty diamonds which tends to be a big equaliser imo!!!! I also think that people judge diamonds on the setting its with and how the wearer looks also!

I have a large diamond that was bought very cheap. Technically its price was consistant with its true grading etc, but the bargain part was that it looks like it is worth 4 times what I paid. Plus, its hard to find a larger diamond that has low specks but looks good, is eye clean etc.

Im thinking your buy was the same as mine. You probably paid in the true range of what its worth.......but you managed to find the needle in the haystack where your diamond presents as a $20000 plus diamond!!!!

BTW, pictures would be great!!!!!!!!

 

[troutmd]

I tried to do my best to take some pictures...

I should have wiped it off. It has dust and fingerprints all over it from everyone messing with it here today.... Is that a fair amount of fire/sparkle? I dont have much to compare to, but I sure know it gives of light in all directions when moved around. I tried to catch it a few times..

 

[Lorelei]

It looks nice, hard to tell from the pics as they are blurry, I can see some darkness around the table but it might not be so visible if it is dark there in reality - but as long as you are pleased with it thats the main thing!

 

[LGK]

Date: 1/21/2009 8:45:21 PM
Author: Sharon101
By the sounds of things it is NOT a bad buy. Meaning, it sounds like it was not a purchase where you got ripped off or anything like that.


And, in the real world, it will always be appreciated more than here, because in the real world size does count for almost everything!!!!! (Edited to add.....Im not including frozen spit, white fog diamonds in my generalisation, just normal garden variety spakly ones). Very few people look further than size because in the real world, we usually just get a passing glanse on a moving hand when seeing diamonds. Plus, most people walk around with dirty diamonds which tends to be a big equaliser imo!!!! I also think that people judge diamonds on the setting its with and how the wearer looks also!


I have a large diamond that was bought very cheap. Technically its price was consistant with its true grading etc, but the bargain part was that it looks like it is worth 4 times what I paid. Plus, its hard to find a larger diamond that has low specks but looks good, is eye clean etc.


Im thinking your buy was the same as mine. You probably paid in the true range of what its worth.......but you managed to find the needle in the haystack where your diamond presents as a $20000 plus diamond!!!!


BTW, pictures would be great!!!!!!!!

What Sharon said. I''m sure that whomever is going to wear it will be absolutely thrilled. It''s kind of moot what it''s "worth", since it''s a done deal and you''re happy with what you got. People will assume you paid a heck of a lot more for it, though, I''m sure, which isn''t a bad feeling

You could GIA cert it, but a formal independant appraisal might be just as useful but in a slightly different way- then, you''d get a dollar amount applied to it (retail replacement cost usually). You will want to insure it... and you need an appraisal to do that, anyway. If I were you, I''d probably pass on the GIA cert and just go for the independant appraisal. All appraisers are not made equal, of course, so I''d probably go with one of the ones that gets a lot of recommendations here- or quiz the local ones thoroughly. Still, your call of course.

 

[Allison D.]

I think I''m going to be the voice of dissention on this one.

I wouldn''t bother sending it for a grading report; unless you plan to resell the stone, it doesn''t really "do" anything for you for the extra expense.

You made this purchase with price and appeal to your eye in mind. Those things can''t be graded by a lab; they''re your criteria and your choice.

As a cash sale, it''s not as though information from a grading lab would bolster you....you can''t return the stone regardless of outcome.

You already have great info in hand. Several jewelers have told you they couldn''t provide a similar stone for the price. My recommendation is to be content with that and enjoy the stone.

 

[AprilBaby]

If you like it and you feel like you got a deal then Congrats and let it go at that!