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What to do with an M color diamond?? Advice, please.

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Sparkalicious

Sparkalicious

Ideal_Rock
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I''m stumped as I have no knowlege with regards to selling diamonds.

My aunt has an M color round brilliant diamond that she would like to sell for various reasons. It''s a lovely diamond that performs better than it''s specs would indicate, however, how best is it to go about selling this type of diamond?

It looks like about a 1 carat - good spread so it would make a great pendant stone. I was surprised to see that it was M color, but, it is off cut, in that, it is definitely NOT PS worthy, but maybe a good value for someone who does not have cut as a priority, would like a diamond that has the look of a full carat, and is not excessively color sensitive.

Specs
Carat weight - .91
Color - M
Clarity - VS1

As per Sarin Report
Diameter - 6.26mm (6.19 - 6.32) x 3.84
Depth - 61.3%
Crown - 36.0'', 14.5 %
Pavillion - 41.7'', 43.9%
Table - 3.87mm, 61.9%
Culet - 0.5% Very Small
Girdle - 1.2% (0.6 - 1.7%)

Any ideas? I was thinking that I could put an ad on Craigslist for her but I don''t know if people really sell/buy diamonds off of Craigslist. I know people do use Ebay but I have never so I wouldn''t be able to help her in that regard ... I inquired with our jeweler and she would have no problem selling it to the right person but based on their clientele, this particular diamond is not that marketable and may take quite a long time to move. They actually have a gorgeous 3 + carat L color modified round brilliant diamond that is amazing and a terrific price that has not sold yet - likely color related so I can''t imagine this M color, not really well cut diamond going any quicker.

I appreciate any ideas you may have ... From what I understand, selling a diamond is not the easiest thing to do, however, my aunt is in a bit of a situation and I would really like to help her if at all possible.

Thank you!!
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Someone over on SMTR Made a gorgeous pendant with an M diamond - putting it in yellow prongs surrounded by white melee to enhance the yellow shade.
 
Thank you Gossamer Angel - I had never seen that pendant ... it''s beautiful.
Unfortunately, this project is less fun than making a piece of jewelry. I''d love to make a pendant with this diamond.

My aunt would like to sell the diamond and I am uncertain about how to assist her with doing so. Any ideas would be appreciated.

I''m assuming that for people not in the industry that something like Ebay or Craigslist might be the only way to go but I''m hoping that a knowledgable PSer has some other, preferrable, ideas.
 
Oooh, I''m sorry! I''m the worst skimmer sometimes
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My bad!

I don''t know about craigslist, that and ebay - people primarily go there looking for bargains on loose stones, IMO.

What about pricing out how much it would be to set the stone in a simple, antique-inspired pendant setting? You would probably be able to recoup your cost and then some selling it that way. Or even an inexpensive antique style ring mounting?
 
Date: 1/9/2009 9:20:06 PM
Author: GossamerAngel
Oooh, I''m sorry! I''m the worst skimmer sometimes
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My bad!

I don''t know about craigslist, that and ebay - people primarily go there looking for bargains on loose stones, IMO.

What about pricing out how much it would be to set the stone in a simple, antique-inspired pendant setting? You would probably be able to recoup your cost and then some selling it that way. Or even an inexpensive antique style ring mounting?
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No apology necessary! Thanks for your assistance.

Ohhh! Now there''s an idea. Never thought about that ... at all! I don''t see my aunt having a problem with that other than having to shell out some more money to have it set in something but ... I will inquire with our jeweler to see what type of setting we could get it in and inquire as to the likelihood of recouping the cost if she were to do this.

Seriously - you guys always have the best ideas! I''ve been sitting on it for about a month now frustrated that I can''t figure this out for my aunt. She came to me b/c she knows that I love diamonds and am really into them and I feel like I''m letting her down by not being able to figure something out for her.

Thanks again! Anybody else have any ideas??
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I''m not sure if your aunt is set on selling her stone or just looking for something interesting to do with it. Here''s my idea. The small stone is my original ering stone. I had it recut. I think it''s around an H. The other stone is an M that I had put into a bezel pendant.

apendantSwgrl3.jpg
 
Oh swingirl! That is beautiful!! I love your pendant ... absolutely stunning! I wish, wish, wish, that I could buy her diamond and do that with it!!
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No ... she really wants to get rid of it. It was originally my uncle''s ... he wore it in a ring, his wedding band. Sadly, their marriage has since dissolved and she wants no part of it and could really, really use the money to assist with caring for my grandma. Hmmm... Just thought of something ... Has anybody ever used I do, Now I don''t ... Maybe I could post it on there for her but ... alas - I have never sold anything online and am a little leery of the process.

Thanks for the suggestion, swingirl! I would absolutely send her your pic if she wanted to do something fun with it.
 
Thank you. I hope you are able to sell your aunt''s stone. I have no suggestions how to do that but I''d try some of the suggested vendors first. Good luck.
 
Thanks swingirl ... much appreciated.
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Hi,
if you''re looking to sell your jewelry you should check out http://www.cashmygold.info . Basically they send you a free insured g pak in which you can pop your jewelry in and then send it. They will then tell you how much it is worth and you decide whether you want to sell it or not.
 
You can always try the diamondbistro.com . They have a section for loose diamonds.
 
Sparky, Have you asked your local appraisers where to buy and sell used diamonds. If one jewelry store is willing to sell on consignment, there are a few more. Or willing to buy it outright. Just because one 3 carat L color has not sold quickly does not mean your aunt''s much smaller diamond will sit there forever. In this case, smaller is BETTER. M color may not be your cup of tea, but please remember a guy in love with a small budget may not see that M color as much. I would not be interested in the 3 carat diamond for any price regardless of color or clarity. I would start calling around and see what options are available locally first.
 
I''m going to be keeping an eye out for various sites looking for that M colored stone...might be a good option for either a re-cut or a pendant...
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Good luck selling it! If all elses fails, I''d do CL or ebay. Both are really easy to use, and CL is free, while ebay takes a % of the sale, it will move it quickly, and you can always set a reserve price.
 
Date: 1/11/2009 1:46:48 AM
Author: jennifer8055
Hi,
if you''re looking to sell your jewelry you should check out http://www.cashmygold.info . Basically they send you a free insured g pak in which you can pop your jewelry in and then send it. They will then tell you how much it is worth and you decide whether you want to sell it or not.
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Thanks Jennifer! Appreciate the suggestion ...
 
Date: 1/11/2009 12:20:30 PM
Author: bagelboy
Sparky, Have you asked your local appraisers where to buy and sell used diamonds. If one jewelry store is willing to sell on consignment, there are a few more. Or willing to buy it outright. Just because one 3 carat L color has not sold quickly does not mean your aunt''s much smaller diamond will sit there forever. In this case, smaller is BETTER. M color may not be your cup of tea, but please remember a guy in love with a small budget may not see that M color as much. I would not be interested in the 3 carat diamond for any price regardless of color or clarity. I would start calling around and see what options are available locally first.
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You know bagelboy, I haven''t. I have been remiss or maybe just lazy. I should check with other jewelry places. Great point ...smaller may indeed be better in this case.

If I could justify or afford the expense right now, I would purchase the stone from my aunt right now and make a fabulous pendant but I can''t ... boo! That''s exactly what I was thinking! What a great deal for a gentlemen with a smaller budget who is looking for a stone that has the look of a carat .. If using it for a ring and setting it in yellow gold - the M would be for Magnificent!!

You''ve inspired me ... I will have to do this. I will call around! Thank you, bagel boy. I have a feeling that this may be the best bet.
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Date: 1/11/2009 1:29:09 PM
Author: redrose229
I''m going to be keeping an eye out for various sites looking for that M colored stone...might be a good option for either a re-cut or a pendant...
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Good luck selling it! If all elses fails, I''d do CL or ebay. Both are really easy to use, and CL is free, while ebay takes a % of the sale, it will move it quickly, and you can always set a reserve price.
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Keep your eyes peeled redrose!
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If I don''t find any local vendors who would like to snatch this baby up ... It will be on sale somewhere in cyberspace. As far as I understand it my aunt wants this done sooner than later, however, since she paid quite a significant amount more for it 20 or so years ago, she doesn''t want to sell it for nothing.

I thought about the possibility of having it recut to more ideal proportions, thus making it more marketable but was advised that that would take off quite a bit of carat weight and may not serve that purpose. Ugh ... oh well. I think that the best selling point that it has right now is it''s spread ... I have a 1.28 ct diamond and this one is .91 and when I saw it set I thought it was at least a carat. When it was unmounted and weighed and I was told it was .91 I was shocked but then the specs explained that.

Thanks for the encouragement about CL/Ebay ... I''m so leery of Ebay even for myself so I wouldn''t want my first venture to be selling something for someone else. I feel like such a fuddy duddy because "everyone is doing it" but I just haven''t gone there yet. I may consider CL b/c it just seems easier but I can''t help but think that some local diamond vendor would want this beautiful diamond ... It''s not perfectly cut but it has so much personality. Oh no ... I think that I better get rid of it soon b/c it''s growing on me.
 
Why, thank you very much, Neil! I will check it out!! Much appreciated!!
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*Neil* - Thank you for referring me to your article. Now, I''m not certain that I am clear on my next steps. My aunt is unable to place the original certs so that is no good as I am not willing to put up money to have it sent to GIA or AGS for recertification, however, if I understand correctly, do you believe that getting it appraised and having that official appraisal as to it''s worth and specs etc - will help increase buyer confidence thus making it easier to sell. It seems like a reasonable assumption to me but I''m just wanting to be certain.

I would be happy to take some money to have it appraised for my aunt if it will help sell it more quickly. I was able to get the specs from a Sarin Report that my jeweler had done for me but I don''t have any official paperwork that might be valuable to a perspective buyer.

As bagelboy suggested above, I was thinking about calling around to see if any jewelers might be interested in purchase. If that fails, I was considering taking some good pictures of it and inquiring with an appraiser re: appraisal and trying to sell it via the internet.

Do you have any further thoughts as to what might be a preferred option?
 
I love the bezel pendant idea. I can''t imagine you would get enough for it that it would be worth selling. Could you purchase ilt from you aunt? I think it would be absolutley gorgeous. Do you have any pictures/
 
It will depend on what your plan is. You’ve stated as facts VS1/M and an ‘off cut’. What’s your source of this data and what you have to support it to your buyer?

Your jeweler is right that an entirely undocumented VS1/M with bad cutting and that she is unwilling even to consign is not going to be an easy item to sell. Fully documented and presumably better cut comps from the dealers here are asking for about $1800 and I seriously doubt they’re a very popular item. Without proper lab docs I doubt you’ll be able to sell it to a consumer and I doubt that an appraisal will be an acceptable substitute for most prospective buyers. I’m guessing this won’t sell well to the dealers at all because to sell it they’re going need to recut it and have it properly graded and at the end they’re still going to have a M color to deal with. If they can buy it cheap enough you may get a taker but you're not going to get top dollar selling to this market. They’re going to view it sort of like buying a junk car at the auction. That said, it may still be your best shot. Sometimes a junk car really is just a junk car after all. You mentioned that your Aunt has some pricing plans in mind. What is she hoping to get out of it?

You’ve already talked to a jeweler who gave you the grading details and who has seen the stone in person. I think there’s a pretty good chance that any jeweler with a Sarin machine also has a qualified grader. She surely talked to you about prices as well so you presumably already know at least some of the answers, you just don’t like them. What did she have to say?

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver
 
I second going to diamondbistro. I''ve bought from that site before and I know other PS''ers have put items up for sale there.
 
Date: 1/12/2009 7:56:07 PM
Author: MMT
I love the bezel pendant idea. I can''t imagine you would get enough for it that it would be worth selling. Could you purchase ilt from you aunt? I think it would be absolutley gorgeous. Do you have any pictures/
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So do I MMT! If it were my choice, I would keep it for myself and make a pendant in a hearbeat. Unfortunately, my aunt does need the money and I cannot afford, at this time, to purchase it from her.

I just got some pics today! Our jeweler is babysitting it and I asked her to snap some for me ...
I liked this pic with the purple fire!

mvs1 purple fire.jpg
 
Neil

Thanks for responding ... *My* plan would be to abscond with it and make it into a beautiful pendant, however, it is not mine with which to abscond, unfortunately!

I plan to sell it for my aunt. Our jeweler was kind enough to forward it on to an appraiser for a quick review, sarin etc .. so that is how we obtained the information.

I called Wink (nicest guy, by the way) today to inquire about a recut, however, that would be too expensive and the diamond would lose too much carat weight to make it worth the while. Additionally, I contacted an appraiser from the link you provided and they offer 2 services - $45 for a preliminary report and $95 for a plot, proportion, full shebang type deal ... from what you are saying, I glean, that if my aunt intends to really sell this and relatively quickly, the $95 recertification type thing is probably the way to go, as opposed to the the $45 report??

My aunt would like a minimum $1,500 for it and our jeweler said that anywhere around $1,200 to $1,500 would be appropriate. She is really disappointed b/c 20 or so years ago, I believe, she paid like $2,500 for the ring (18k carat gold setting & diamond)!!
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but that''s just the way the cookie crumbles and highlights the importance of being a little educated about your diamond purchases.

My jeweler is actually checking to see if she has any pendant mounts that maybe she can place this stone in to help increase the value. I thought that this was nice.

I really appreciate your thoughts, Neil ... Thank you for your assistance!
 
I think you have very little chance of getting that much from a dealer and you have very little chance of getting it from a consumer without lab documentation in today’s climate. Even WITH good paperwork, this will be a difficult sale at that price.
A general comment on labs: This is a classic example of a stone that dealers would choose to send to a lab OTHER than GIA, despite the resistance in the market. The problem is that GIA is likely to give it a ‘poor’ cut grade, which is a kiss of death for anyone who actually reads it. EGL-USA won’t assign a cut grade at all. As a side benefit, EGL-USA service is a little bit cheaper.

You already got an appraisal as I've suggested in the article. In fact, it sounds like you got some thorough and expert advice. It just wasn’t what your aunt wanted to hear and they didn’t give you a report that she can use as an advertisement, which is apparently what she was hoping for. I think your jeweler is giving you good advice. If she will agree to consign it as a component in a piece of jewelry and she thinks she can sell it that way, this is a good idea although I do think your aunt is going to have to rethink her expectations with regard to price. It’s a pity that she paid a lot when she bought it but it’s going to be hard to find a new buyer who will agree that this is a reason why they should be paying more.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver
 
$1,500 is going to be a problem. I spend half my time on Ebay and CL now looking for diamonds and I''ve seen much higher colors with certs for less than that at that size. I saw a 3.25 ct. mine cut for $5,000 (I''m pursuing that one!) on one of those sites. It''s a horrible market to sell, especially in January and with the economy as bad as it is. I''m suprised that sellers on Ebay aren''t getting a clue and cutting prices if they really want to sell anything. I just laugh when I look at a lot of those listings. Some are nice but they''re in la la land with their pricing.

I also like diamondbistro. I have bought and sold on there.
 
Jelly - Thank you! I had never heard of it before but it does look like a definite possibility!! I appreciate you taking the time to share!!

Neil - As always, expert advice, great points and so well articulated. Thank you! I have to say that I tend to agree. It is going to be an uphill battle. Trying to explain this, however, to someone who is not familiar with diamonds, is proving to be a little challenging. I guess that with this type of stone I will have to try and get as much paperwork, short of recertification, as possible. I will have to get an official appraisal and might want to opt for the $95 option instead of the $45 option, which may be sufficient for a more marketable stone.

Yes - I have gotten some fantastic advice. I love our jeweler. She is so accommodating and willing to help even if it doesn''t involve a sale for her. This diamond is even unrelated to me, her customer, but she is keeping it safe for us b/c I didn''t want to drag it around while we were trying to figure out what to do with it for my aunt.

It really is sad that my aunt paid so much initially. I was shocked when she told me. I would be devastated if I was told that my diamond was worth about 50% less than what I paid for it if it was purchased 20 years ago. I''ll heed your advice and do what I can to get a reasonable amt for her ... Hopefully, $1,500 or something close to it will be the right fit for the perfect customer but not holding my breath!

Tradergrl - I hear you. I can imagine! I don''t venture onto Ebay or CL very much but I can imagine that there are some great deals to be had. I believe that I actually started drooling when you mentioned that 3.25 ct mine cut for $5,000
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What ?! Best of luck with that!! I hope that you are able to make it yours!! ... I can''t wait to see pics!
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Thanks for the diamondbistro recommendation as well!! I very well may have to try it out. I have to get this official appraisal stuff done so that hopefully we''ll be able to move this quickly. Quite frankly, I''m almost done with dealing with this. It''s stressful trying to sell something for someone else!!
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