Fair price for cushion engagement ring

[jbiggs77]

Picture attached.

Main diamond is .8 ct. D color, SI2 clarity. Seller has retail appraisal from a local jeweler for $7800. They are asking $3500 and ring has been worn ~3 months.

Their asking price seems a bit high to me but I wanted to check with some more knowledgeable people on this board before I meet her in person at a jeweler. What is a fair price for this ring?

 

[NewEnglandLady]

Is the appraisal from the jeweler? If so, they do tend to inflate the prices. I don''t think an independent appraiser would have priced it that high.

Using the search tool at the top of the page, you can see that D/SI2 cushions that are in stock right now around the .8 mark range from ~2K - 2.2K, though those are for GIA-certified stones (does this stone have a certification?). That would leave about $1,300 - $1,500 for the setting. Depending on the quality of the setting, that could be high, low or very fair. If I were you, I would find out if the stone is certified. If so, by whom? And finally, I would make the sale contingent on you getting the ring independently appraised.

 

[jbiggs77]

The appraisal is from the jeweler.

The diamond is certified by IGI. Does that differ much from GIA?

 

[Lorelei]

Hi jbiggs and welcome!

IGI are said to grade leniently compared to GIA or AGS, read more here. Don''t worry about that inflated appraisal value, you often see this and it does not mean a ring is worth anywhere near that. As to the price, bear in mind that when reselling GIA graded diamonds that it is usual to only recoup 30 - 50% of what was originally paid, an IGI graded stone could be less still....Although I can''t tell much from the photo, this cushion doesn''t appear to be that well cut, it looks to me like a typical " commercial" cut quality cushion which is fine if you are ok with that - but what I would do if you want this ring is to get an independant appraiser involved and see if they can inspect this ring and give you an idea of a fair price.