Find your diamond
Find your jewelry
shape
carat
color
clarity

Need inputs for this diamond that is selling locally (private party)

Status
Not open for further replies. Please create a new topic or request for this thread to be opened.

kevinnho

Rough_Rock
Joined
Feb 16, 2009
Messages
56
I''m looking at this diamond that is selling locally in Minnesota. It''s privately owned with no certificate. Recently appraised from a local jeweler store

Here are the specs and let me know what you guys think. He''s looking for $7500.00

DIMENSIONS- 7.48 x 7.4 x 4.59

CT WT: 1.59 CT ROUND BRILLIANT PREMIUM AGS#3

COLOR: I

CLARITY: VS2

Color, Clarity, and Cut are graded using AGS MASTER STONES by certified gemologists at J.F. Kruse Jewelers
 

Lorelei

Super_Ideal_Rock
Premium
Joined
Apr 30, 2005
Messages
42,064
Hi Kevin,

Personally I think the price is too high for a diamond without a grading report on the secondary market especially from a private buyer. I did a search and some similar with an EGL report are priced at $5- 6k to give you an idea from online vendors.

If you want to pursue this, my advice is to see if the diamond checks out with an independant appraisal. I know gemologists have valued it but an appraiser who does not sell diamonds would be best. They can check out that it is in fact a diamond, the colour, carat and clarity and also give you an opinion on whether the asking price is reasonable or not and the cut quality. As this is a private sale I would be inclined to meet the seller there and have the appraisal done, then if it checks out you can conclude the transaction there and then.

Appraisers tool.

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

Is the diamond set in a ring and if so what type of setting?
 

oldminer

Ideal_Rock
Trade
Joined
Sep 3, 2000
Messages
6,503
IF the color and clarity are correct and if the reason that the diamond is AGS3 versus AGS 0 is an acceptable sort of fault, the price being asked is simply okay, not unusually cheap.

Consider:
1 The diamond has no GIA report.
2 You know the diamond is not an Ideal cut for some undetermined reason.
3 You do not know the biased or unbiased nature of the available report.
4 The price is 35.5% below Rapaport which is somewhat less than retail for diamonds listed on Pricescope, but well above the liquidation value of an unwanted diamond when one goes to professional "Diamond Buyers".

What kind of guarantee is there on the color and clarity? It sounds like no one will be responsible if the color and clarity is off a grade? Would you buy it at this price if it was actually a J-SI1?
 

ddcha

Shiny_Rock
Joined
Mar 25, 2009
Messages
170
what if you asked the seller to get GIA grading report? If the color clarity and cut check out, then you pay for the grading report. I think it''s only couple hundred dollars. If not, then you move on. Or you negotiate price based on grading report?
 

denverappraiser

Ideal_Rock
Trade
Joined
Jul 21, 2004
Messages
8,868
This is why accurate grading is such a big deal. If you play with the database here and search for 1.59-1.65/I/VS2 you get offers ranging from about $5300 to over $12,000. This is not evidence that the $5300 one is a bargain (in fact it probably isn’t) nor is it evidence that the $12k ones are a ripoff. There’s just not enough information available to make this call. The bulk of the difference will be in the accuracy of the grading and the quality of the cutting. If you expand the grading range to include SI1 and J colors it gets even more extreme. There are numerous pitfalls. I would not recommend relying on an appraisal document supplied by the seller for example. I also would not rely on an grading that was done while the stone was mounted for making a purchase decision although there are other situations where this is fine.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver
 

oldminer

Ideal_Rock
Trade
Joined
Sep 3, 2000
Messages
6,503
Usually sellers are too impatient to do what it takes to submit the stone for a GIA report. If you really like the diamond and want to live on the wild side, make an offer of $5K and let it go if it isn''t accepted. I doubt any dealer has made an offer of that much or more. No harm in trying, but you are still taking some risk, but it is $2500 less of a risk....
 
Status
Not open for further replies. Please create a new topic or request for this thread to be opened.
Be a part of the community It's free, join today!
    Top Luxury Classic Pieces
    Top Luxury Classic Pieces
    Style File: Catherine, the Duchess of Cambridge
    Style File: Catherine, the Duchess of Cambridge
    Diamond Prices - January 2021
    Diamond Prices - January 2021

Need Something Special?

Get a quote from multiple trusted and vetted jewelers.

Holloway Cut Advisor



Diamond Eye Candy

Click to view full-size image.
Top