Silly antique stone question...

[Dreamer_D]

The problem with buying at auction is that you rarely have a graded stone so that you're basically on your own as far as that goes. I think you could also have some unexpected costs, like what if the stone needs a repolish or the setting is wonky. We've bought furniture at auction and while I love it, it has always cost us more than we thought after repairs etc.

Ebay is the same, but at least then you can return an item. Auctions allow you to view items prior to the sale and you can evaluate them then. But I would not recommend an auction to people who are not very knowledgable both about diamonds but also market values.

 

[carmine7]

I am a little surprised that no one really speaks of price negotiation . I think the price posted by a dealer or whoever is just an asking price therefor I will always offer less . How much less is determined by comparing other stones and how long the item has been for sale.Just say that the asking price of a product is $10,000. and it has been for sale for 6 months I would offer $7,000. just to test the waters if its not accepted then I will ask for a counter offer by the seller to get a feel for where he is at.You can always up your offer even if there is no counter offer.I think most sellers want offers because it shows the true market of what you are selling.Remember an item is only worth what someone is willing to pay for it.

 

[winternight]

I am a little surprised that no one really speaks of price negotiation . I think the price posted by a dealer or whoever is just an asking price therefor I will always offer less . How much less is determined by comparing other stones and how long the item has been for sale.Just say that the asking price of a product is $10,000. and it has been for sale for 6 months I would offer $7,000. just to test the waters if its not accepted then I will ask for a counter offer by the seller to get a feel for where he is at.You can always up your offer even if there is no counter offer.I think most sellers want offers because it shows the true market of what you are selling.Remember an item is only worth what someone is willing to pay for it.

Some dealers negotiate, others don't. It just depends. I think in the case of the diamond you're selling I'm not so sure the dealer was trying to take advantage. I would guess a 30-40% off retail price is pretty normal, especially for an item which is going to take time to move because of the size and color. Your guess of him selling the stone in the 20k range places the discount higher, but then you'll have to really compare it to what the stone sells for, right? Personally when I sell items I take cash if I know the item will take longer to move and only go the consignment route if I think it will sell quickly. Then again I hope that you sell it for what you're asking because you will have done much better by waiting!

 

[maplefemme]

.

Absolutely, I love sentimental pieces, but not everyone has the same association. For example, I was quite flawed as to why none of Liz Taylor's children kept any of her most sentimental pieces, but maybe they didn't have a say in the matter? I don't know...
I was eyeing her theatre token necklace, it was so sentimental and historic by it's very nature, long before she owned it. I knew it would go for WAY more than the $1,500-$2,000 estimate, I can't find a single token for $2,000 - actually I can't find any that aren't already sold...hens teeth!
I see things like Lover's Eyes and memorial jewelry and I wonder how it ever got out of the family. But like you, I'm not complaining, more spoils for us! [/quote]

Oh wow thanks for posting that! I hadn't seen that amazing necklace. What a cool piece! I bet opera lovers go nuts for those.

I adore lover's eyes and memorial jewelry and am also very sentimental.[/quote]


It's beautiful isn't it?! Quite something to think why they came about in the first place, that once there was a time that paper was more expensive than ivory

Lover's eyes freak my SO out, he thinks they are spooky, I'm like you, I think they are stunning.

 

[Modified Brilliant]

What I have seen over the past several years are Baby Boomers inheriting diamonds and jewelry from family members and having to make a decision to keep a large old cut diamond vs. a family 's financial need. In many cases the answers are "I don't feel comfortable wearing a large diamond everyday...it would sit in the vault" OR "it makes a lot more sense to cash in and free up money for Mary's college tuition." OR "We really need to renovate our kitchen."
I have a friend who recently sold silverware received 30 years ago for his wedding gift (still individually sealed in plastic).
The service for 12 was sold and the money received helped pay for a kitchen renovation.
No emotional attachment whatsover.

Seventy-six million American children were born between 1945 and 1964. (Baby Boomer era; some say 1946-1959)
This is a huge segment of society. Old cut diamonds will continue to find their way into the marketplace for many years to come.
There has also been a large increase of "estate appraisal" work needed for estate planning and equitable distribution purposes.
This is an interesting topic...thanks for asking.

Jeff (a Baby Boomer)

 

[ihy138]

What I have seen over the past several years are Baby Boomers inheriting diamonds and jewelry from family members and having to make a decision to keep a large old cut diamond vs. a family 's financial need. In many cases the answers are "I don't feel comfortable wearing a large diamond everyday...it would sit in the vault" OR "it makes a lot more sense to cash in and free up money for Mary's college tuition." OR "We really need to renovate our kitchen."
I have a friend who recently sold silverware received 30 years ago for his wedding gift (still individually sealed in plastic).
The service for 12 was sold and the money received helped pay for a kitchen renovation.
No emotional attachment whatsover.

Seventy-six million American children were born between 1945 and 1964. (Baby Boomer era; some say 1946-1959)
This is a huge segment of society. Old cut diamonds will continue to find their way into the marketplace for many years to come.
There has also been a large increase of "estate appraisal" work needed for estate planning and equitable distribution purposes.
This is an interesting topic...thanks for asking.

Jeff (a Baby Boomer)

Thank you, Jeff, for chiming in! Nice to get a trade perspective on things. I appreciate that the money one gets for such stones might be more valuable than the diamonds themselves (i.e., for a college education). Faced with a large inherited OEC, I'm not sure what decision I would make. Okay...I'm pretty sure I would keep it. It's hard to say and I understand it's a tough call to make for families with other financial responsibilities.


Thank you everyone else for posting! I promise I'm reading. I'm just so swamped with work that I haven't been responding.

 

[carmine7]

I agree with Jeff . In my case I inherited a 3ct. OEC pinky ring from my late Father in 2001 . The ring was just sitting in my safe deposit box because I am not a pinky ring type of guy so I decided to sell the diamond and by a new Rolex in his memory. I am keeping the setting because it has his initials engraved in it so I can`t part with that.When I do sell the diamond and get the watch at least I will were it everyday and he will be with me.

 

[ihy138]

I agree with Jeff . In my case I inherited a 3ct. OEC pinky ring from my late Father in 2001 . The ring was just sitting in my safe deposit box because I am not a pinky ring type of guy so I decided to sell the diamond and by a new Rolex in his memory. I am keeping the setting because it has his initials engraved in it so I can`t part with that.When I do sell the diamond and get the watch at least I will were it everyday and he will be with me.

That's such a beautiful sentiment, carmine. That way you get something that you love in his memory and someone else gets to enjoy the OEC (which is smashing, by the way!).

 

[winternight]

MF, I love victorian mourning jewelry which almost everyone finds creepy!

Jeff, if the boomers are selling, who is buying? On the one hand commodity prices are high, on the other so is unemPloyment.

 

[Modified Brilliant]

Winternight,
Great question. As long as folks keep getting engaged.............
There is a "niche" market today for consumers who really like the look of an Old Mine or Old European cut diamond.
Originally, years ago, these were purchased by dealers and often re-cut into modern brilliant cut diamonds and
would then command a higher price. The beauty, charm, and brilliance of these older cut diamonds is very appealing
to many people looking for a vintage look as an engagement ring. There is alot more chatter on PS forums
regarding these cuts than ever before. I'm a huge fan of old cuts (these diamonds live outside the world of
perfect facets, ideal cuts, perfect symmetry, etc. and have a certain charm all their own).

 

[ihy138]

Winternight,
Great question. As long as folks keep getting engaged.............
There is a "niche" market today for consumers who really like the look of an Old Mine or Old European cut diamond.
Originally, years ago, these were purchased by dealers and often re-cut into modern brilliant cut diamonds and
would then command a higher price. The beauty, charm, and brilliance of these older cut diamonds is very appealing
to many people looking for a vintage look as an engagement ring. There is alot more chatter on PS forums
regarding these cuts than ever before. I'm a huge fan of old cuts (these diamonds live outside the world of
perfect facets, ideal cuts, perfect symmetry, etc. and have a certain charm all their own).

I think it's such a tragedy that a lot of these were recut. I understand the rationale, but it's still heartbreaking. It's quite obvious that they're coming back in vogue...at least in the PS world. I wonder if this trend will reach the general population (i.e., those who are not diamond fanatics).

 

[Dreamer_D]

Winternight,
Great question. As long as folks keep getting engaged.............
There is a "niche" market today for consumers who really like the look of an Old Mine or Old European cut diamond.
Originally, years ago, these were purchased by dealers and often re-cut into modern brilliant cut diamonds and
would then command a higher price. The beauty, charm, and brilliance of these older cut diamonds is very appealing
to many people looking for a vintage look as an engagement ring. There is alot more chatter on PS forums
regarding these cuts than ever before. I'm a huge fan of old cuts (these diamonds live outside the world of
perfect facets, ideal cuts, perfect symmetry, etc. and have a certain charm all their own).

I think it's such a tragedy that a lot of these were recut. I understand the rationale, but it's still heartbreaking. It's quite obvious that they're coming back in vogue...at least in the PS world. I wonder if this trend will reach the general population (i.e., those who are not diamond fanatics).

I doubt it will reach those populations because they are too rare, comparitivly speaking. And most people buy in malls. PS is such a funny little niche. The old cut "trend" started showing its face a couple years ago but has obviously started reaching more of a creshendo right now. Look at 5-6 threads in SMTB right now! I think it is diamond prices that drove it in part, because you can still buy OECs for reasonable prices.

 

[ihy138]

Winternight,
Great question. As long as folks keep getting engaged.............
There is a "niche" market today for consumers who really like the look of an Old Mine or Old European cut diamond.
Originally, years ago, these were purchased by dealers and often re-cut into modern brilliant cut diamonds and
would then command a higher price. The beauty, charm, and brilliance of these older cut diamonds is very appealing
to many people looking for a vintage look as an engagement ring. There is alot more chatter on PS forums
regarding these cuts than ever before. I'm a huge fan of old cuts (these diamonds live outside the world of
perfect facets, ideal cuts, perfect symmetry, etc. and have a certain charm all their own).

I think it's such a tragedy that a lot of these were recut. I understand the rationale, but it's still heartbreaking. It's quite obvious that they're coming back in vogue...at least in the PS world. I wonder if this trend will reach the general population (i.e., those who are not diamond fanatics).

I doubt it will reach those populations because they are too rare, comparitivly speaking. And most people buy in malls. PS is such a funny little niche. The old cut "trend" started showing its face a couple years ago but has obviously started reaching more of a creshendo right now. Look at 5-6 threads in SMTB right now! I think it is diamond prices that drove it in part, because you can still buy OECs for reasonable prices.

I think you're absolutely right. The only two people I know in the real world with OECs inherited them from family members. Even then, I don't think they know the terminology or how they're different from modern RBs. I love that I own a few unique pieces of history, and who knows what their availability will be like when it's time for me to pass these down to my children (or nieces).

 

[VRBeauty]

slightly off-topic, but...

I heard second-hand that a lot of the old cut stones that come in with jewelry sold for gold value are sent to Isreal because there isn't a good market for the old cut stones here in the States. I heard this from a friend who's good friends with a gold dealer, and unfortunately I wasn't able to ask questions, like whether that pertained just to the smaller stones, or whether the stones are sent to Isreal to be re-cut.