What''s the safest way to buy a diamond from a private seller?

[wishinpink]

This is a total newbie question!

I''ve found the diamond of my dreams, now I have to buy it! The seller and I are in different states, how can we safely insure I get the diamond and she gets the money without risk of scam or fraud?

We thought about ebay, but then it takes $117 commission. Paypal takes 3% by credit card. If I don''t pay with credit card, then I don''t get credit card protection...

What''s the best way? I''m budget-sensitive and the seller says I have to pay any additional fees!


Would love some advice, thank you all in advance!

 

[neatfreak]

Get it sent to an independent appraiser who can also act as an escrow agent. If it appraises as it was promised, then seller gets the $ and you get the ring. If it doesn''t, the seller gets the ring back and you don''t lose your shirt.

 

[glitterata]

This isn't free, but it's safe, and it's how I would do it: Get a trustworthy independent appraiser involved. The seller sends the appraiser the stone. The appraiser appraises it. If checks out, you send the seller the money and pay the appraiser for the appraisal, and the appraiser sends you the stone, along with an appraisal (which you'll need for insurance anyway).

If it doesn't check out, the seller pays the appraiser (or you do--whatever you agree on in advance) and the appraiser sends her back her stone.

Edited to add: typing at the same time as Neatfreak, who said it better.

 

[wishinpink]

Wow, thank you both for your replies!! This is a GREAT idea! Have any of you done this with any appraisers you recommend?

I didn't realize that appraisers provide services like this! Is this common practice?

 

[Richard Sherwood]

Sure, all the time. Their position of neutrality allows both the seller and the buyer to relax about the situation. Nobody can get screwed.

 

[liz-e]

What are the costs involved in having an indepedent appraiser involved?

Obviously there would be shipping costs to the appraiser from the vendor and consultation fees.

Roughly how much are the consult fees?

I''m not sure how much an appraiser would change my decision to purchase from a vendor via bank wire but am interested to hear other peoples experiences and opinions.

 

[wishinpink]

In addition to Liz-e''s additional questions, has anyone done this before and can suggest a good appraiser in California or New York to do this? Is this typical practice? Do most appraisers find this to be normal procedure?

 

[swingirl]

Richard Sherwood has a web site and he''s in NY. That''s a place to consider.

 

[LostieLovesBling]

I had a stone appraised recently and it was $100USD in California. Not sure if there are additional fees if s/he is acting as an escrow agent?

Good luck and I hope you get the stone of your dreams

 

[neatfreak]

Date: 9/22/2008 10:30:58 PM
Author: swingirl
Richard Sherwood has a web site and he's in NY. That's a place to consider.

Richard is awesome, but he's in FL. But you could certainly use him, once you are sending the diamond around it doesn't really matter where it goes!

Here is his link (I realized it's also in his post above, but he can't advocate for himself, we can!):

http://www.sarasotagemlab.com/

I have also heard very good things about Dave Atlas, I think he is in Philly?

 

[wishinpink]

Thank you for your suggestions!

I would prefer that the appraiser be in New York! That way, the person can send the diamond there, and we can go visit the store in person to pick it up, thereby minimizing the need to ship twice?

 

[Regular Guy]

for NY, David Wolf with Just Appraisers seems to me to come up most often here, lately...