Quick Ring question

[G23]

hey everyone long time lurker, first time poster

I an chance to buy a ring that is .78 brilliant cut, VS1-2 clarity, I color, EGL USA cert. It also has an independant appraisal. On the appraisal is says cut is fine proportion with finished girdle. The ring itself is 18ktWG cathedral. I have a chance to buy it for well under 1K. With the limited info is it worth it or not? I have not seen the cert so I don''t have the proportions. I guess just your opinion with the info provided.

Thanks in advance guys

 

[Regular Guy]

Have you see it and...

do you like it...

such that it will serve the purpose you want it for.

If yes to a & b, why not.

Comparables for the diamond alone approximate $2300, give or take $500, so the cost is more than reasonable.

But...if you haven''t seen it, and you might not like it, and would have no recourse for a refund...

I''d say no, nor do I play the lottery (except when it''s an office pool, and I''m semi embarrased into it).

 

[G23]

Have not seen it, but I am going back and forth on the fact that if I don''t like it I can flip it for at least the same amount I would pay for it.

 

[pyramid]

G23

If the diamond as a laboratory grading report it would not be a VS1-2, it would be either VS1 or VS2? Is that just a grade the seller is telling you is his opinion regardless of what the report says? Either way it is worth the price being asked for it.

 

[G23]

Well the appraisal says "clarity VS range" I have not seen the EGL USA cert, they just state they have one.

 

[Regular Guy]

Is this to be for a woman to show her your love. These things are symbolic after all. Sometimes, best to keep it simple. Alternately, as you say...

Date: 4/21/2007 10:26:59 AM
Author: G23
Have not seen it, but I am going back and forth on the fact that if I don''t like it I can flip it for at least the same amount I would pay for it.

...you may find something in your friend''s past or present to be objectionable, and then what...

 

[denverappraiser]

‘VS range’ in advertising generally seems to mean SI-1 or SI-2 when graded on the GIA scale. I color can mean anything from I-L. Whether or not you want to believe the appraisers grading of the proportions depends on the grader, the scale they are using and how much confidence you want to put in those things. ‘Fine’ can mean wildly different things depending on the context. 0.78cts. usually means that it weighs 0.78cts. but ‘approximately’ 0.78cts can be quite different. Watch out for the phrase ‘clarity enhanced’.

A 0.75ct. J/SI2 with at least decent cutting is well priced at $1,000 if that’s what you want and that’s what you get but bear in mind that the right price on the wrong stone is no bargain.

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

 

[G23]

not clarity enchanced, I am going to ask for the EGL cert before commiting fully to the ring.

 

[widget]

Date: 4/21/2007 10:26:59 AM
Author: G23
Have not seen it, but I am going back and forth on the fact that if I don't like it I can flip it for at least the same amount I would pay for it.

I wouldn't be so sure about this.

In my experience, selling a piece of jewelry and 'getting what I paid for it' has rarely rarely happened.

May I ask where you found this stone? Do you know/trust the seller? I'd certainly want to SEE it before I committed to it!

When it comes to "bargains", I believe you usually get what you pay for...if you're lucky...

JMO
widget

 

[G23]

that is good wisdom, although a friend of mine picked up a .74ct platinum tiffany ring for 1700usd..lol so i guess it goes back and forth. It seems from what people are telling me this ring is way below market price. Like I said I will wait to see the EGL and if I am still not satisfied I will fly up and look at the ring.

 

[denverappraiser]

If it is correctly described, it is priced well below what most consumers would be required to pay for comparable merchandise.

That’s not the same as saying that it’s priced well below market value.
Market value depends on what market is being discussed and exactly what the merchandise is. It’s unlikely that you will be able to get $1000 for it at a pawn shop, especially if the grading is inaccurate. If that’s the resale market you would be using, you will probably not be able to flip it for more than your cost. Presumably the person selling to you is trying to maximize their money and the top amount they feel they can get is the price they are asking. Perhaps you have better selling skills, better market connections, more time, more sense or just better luck but for them and in the marketplace they are considering, the market value is apparently under $1000.

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

 

[Regular Guy]

Date: 4/21/2007 11:31:27 AM
Author: G23
.... Like I said I will wait to see the EGL and if I am still not satisfied I will fly up and look at the ring.

or...consider investing the air fair...

BTW, welcome to Pricescope!

 

[pyramid]

What denverappraiser is saying is good advice, if the diamond is not the grade shown on the certificate then you are not getting a bargain but paying the retail price for the quality you have received and not the retail price of the inflated quality the diamond is not. Then if we remember the ring is second-hand, then you are actually paying more than a second-hand ring of that quality is worth. You will only re-sell it at that price you paid, if you find someone else who thinks a second-hand ring/diamond is worth the same as a new ring.

However, we as consumers tend to think along the lines that we are getting a bargain when we are paying less than retail and the item looks the same to us, it is hard to know, is new always better and worth the price?. When buying an engagement ring I would always go for new though

 

[G23]

Thanks guys I don''t think I will buy the ring. It seems the more questions I ask the less I like what I am hearing. So far its starting with The stone EGL cert, but I don''t have the cert..lol

That alone is a deal breaker since the stone is already borderline to what I want in a Diamond in terms of clarity and color. Unless they reassure me of its quality then I will fly up there. No cost other than time for me because I work for an airline