Need Opinions on Pricing

[Faluzure]

Hi guys. I learned this weekend that my fiance's grandmother is in a bit of tax trouble and she's selling a bunch of stuff around her home to get some cash. She has a ring that was owned by her aunt, so I guess that would make her my fiance's great great aunt or something.

Anyway, she claims the ring was appraised for $31K but she doesn't have the papers or anything of that sort anymore. I took a look at the ring and it's definitely big and I was considering buying it for my fiance to keep it in the family.

Here's what I know. She claims the ring is 3.1 carats and in a white gold setting. It's in a thin band setting with two smaller diamonds on each side. She said she went to three local jewelers and they offered her $7500 to $9000. Closer inspection of the diamond shows that it does have a chip on the right side with slight feathering where the chip is. The diamond is a little loose in the setting. I was told the ring is at least 70 years old.

I would have to consider the diamond an I2 because I saw some visible tiny inclusions at the naked eye. I'm not sure what the color is, but it's maybe a faint yellow.

Should I invest in it? I told her I NEED a recent appraisal before I pull the trigger, but she needs the money before the 1st. Like I said, assuming the worst, what would this be worth simply based on what I typed? Is the chip repairable?

Thanks and happy holidays!

 

[Gypsy]

Can you at the least have it cleaned well and take some good marco shots of it and post them?

 

[minmin001]

Hi guys. I learned this weekend that my fiance's grandmother is in a bit of tax trouble and she's selling a bunch of stuff around her home to get some cash. She has a ring that was owned by her aunt, so I guess that would make her my fiance's great great aunt or something.

Anyway, she claims the ring was appraised for $31K but she doesn't have the papers or anything of that sort anymore. I took a look at the ring and it's definitely big and I was considering buying it for my fiance to keep it in the family.

Here's what I know. She claims the ring is 3.1 carats and in a white gold setting. It's in a thin band setting with two smaller diamonds on each side. She said she went to three local jewelers and they offered her $7500 to $9000. Closer inspection of the diamond shows that it does have a chip on the right side with slight feathering where the chip is. The diamond is a little loose in the setting. I was told the ring is at least 70 years old.

I would have to consider the diamond an I2 because I saw some visible tiny inclusions at the naked eye. I'm not sure what the color is, but it's maybe a faint yellow.

Should I invest in it? I told her I NEED a recent appraisal before I pull the trigger, but she needs the money before the 1st. Like I said, assuming the worst, what would this be worth simply based on what I typed? Is the chip repairable?

Thanks and happy holidays!

you can't repair the chip but you can have the stone recut

 

[Faluzure]

Can you at the least have it cleaned well and take some good marco shots of it and post them?

I wanted to but didn't have a good camera on me. Maybe I can try and get one before we leave for Christmas.

 

[Faluzure]

Hi guys. I learned this weekend that my fiance's grandmother is in a bit of tax trouble and she's selling a bunch of stuff around her home to get some cash. She has a ring that was owned by her aunt, so I guess that would make her my fiance's great great aunt or something.

Anyway, she claims the ring was appraised for $31K but she doesn't have the papers or anything of that sort anymore. I took a look at the ring and it's definitely big and I was considering buying it for my fiance to keep it in the family.

Here's what I know. She claims the ring is 3.1 carats and in a white gold setting. It's in a thin band setting with two smaller diamonds on each side. She said she went to three local jewelers and they offered her $7500 to $9000. Closer inspection of the diamond shows that it does have a chip on the right side with slight feathering where the chip is. The diamond is a little loose in the setting. I was told the ring is at least 70 years old.

I would have to consider the diamond an I2 because I saw some visible tiny inclusions at the naked eye. I'm not sure what the color is, but it's maybe a faint yellow.

Should I invest in it? I told her I NEED a recent appraisal before I pull the trigger, but she needs the money before the 1st. Like I said, assuming the worst, what would this be worth simply based on what I typed? Is the chip repairable?

Thanks and happy holidays!

you can't repair the chip but you can have the stone recut

How much does a recutting cost? Obviously I'll lose money since it'll be recut to a proper size with the chip removed.

 

[Gypsy]

You may not lose much at all.

I had a chip in my 1.26 so I asked Brian Gavin Diamonds to facet the girdle and repolish it (which with diamonds is a recut process). I lost exactly 1 point. My diamond now weighs 1.25. It depends on the chip of course, but diamond cutters are trained to retain weight and still get good results.

And it's only 350 a carat.

The chip isn't what I want pics of. I want pics of the faceting. Because that would make or break the pricing.

 

[diamondseeker2006]

Gosh, that is terrible that she wants to rush you with that decision because the ring needs to be sent to an independent appraiser. It must be worth more than $9000 if that is what a jeweler offered. But I would absolutely recut even if you lost a carat! A 2+ ct. stone for $9000 would be quite nice as long as it is not badly included or very, very low color.

 

[slg47]

do you want the diamond? if not then you could always have her take the local jeweler up on their offer? that way you don't have to mix family and $$ transactions..

 

[Faluzure]

Gosh, that is terrible that she wants to rush you with that decision because the ring needs to be sent to an independent appraiser. It must be worth more than $9000 if that is what a jeweler offered. But I would absolutely recut even if you lost a carat! A 2+ ct. stone for $9000 would be quite nice as long as it is not badly included or very, very low color.

Well it's not that she's rushing us. We just found out about it today. The color seems decent and the inclusions are just tiny specks. Nothing terribly bad. I just don't know if it would be worth purchasing. I tried to do a search on 2+ ct carat diamonds on a few sites with I2 clarity and didn't get results. Of course I didn't try that hard either.

 

[Faluzure]

do you want the diamond? if not then you could always have her take the local jeweler up on their offer? that way you don't have to mix family and $$ transactions..

I don't want it but I could tell my fiance does because it's kind of a family piece. She offered to pay for some of it but considering we're house hunting, that's a lot of cash that can be put into a house. Again I was just curious about how much you guys think it's worth.

We just learned about it and I just wanted to get fellow Pricescope opinions on it.

 

[diamondseeker2006]

But after the recut, the diamond might be VS2, or it could still be I1. I wouldn't personally bother with it if it was like O color and would remain I1 after the recut. That is why you really have to have someone look at it who doesn't sell diamonds! It could be a great opportunity if the material is good for a recut. You could have it recut into an antique cut or a modern ideal cut.

So your fiancee already has an engagement ring? (Nevermind..I just looked and remembered her beautiful custom ring from GOG!) Well a round stone would make a nice right hand ring.

 

[Gypsy]

Value is a complicated thing. Even if you posted a ton of pictures it would be hard to judge value. But without pics it would be impossible.

 

[CharmyPoo]

I suggest you take her ring and get it appraised yourself - save her the trouble and money. Places are open next week. You aren't going to spend a lot on the appraiser .. and can help the family .. be it your purchase or to help her get a fail value if she sells to someone else.

 

[luv2sparkle]

I wouldn't purchase it until you have someone you trust look at it. Not a jewelry store appraiser either. If you like all the specs, then
go for it.