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Out of my mind?

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Snicklefritz

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So I found a 2.70 carat, K color, EGL-USA certed diamond listed on craigslist. Price is listed as $10,500 but the seller is considering selling to me fo $8,000 because he is "desperate". He is willing to meet me at an independent appraiser to have it authenticated, etc. I spoke with the jeweler who sold him the stone and he said it was a gorgeous, and was flabergasted that the seller would sell it for even $10,500. I asked about the coloring, obviously K EGL does not bode well, but he said the faint fluorescence makes it face-up like an I. I could live with that, though I doubt faint fluorescence has that much impact. No matter - I tend to prefer warmer stones. It''s just a question of how warm this K actually is. Unfortunately, I haven''t seen it in person yet, but I have seen a pic and it looks like a beaut, but pics are so subjective. I ran the specs he provided on the HCA and got all very goods. I figure I could always get it recut down the line if need be. No ASET, IS or Sarin to be had, sorry. So....is it worth pursuing or am I out of my mind? I know there are no safety nets if I buy from this guy, no trade-up or lifetime guarantees, etc.

Wait, before you answer, there''s more...

I recently found a diamond that meets all of my preferred criteria at one of our lovely PS vendors including: GIA or AGS cert, I color or higher, SI1 clarity, excellent cut, visible arrows, and 1.5 carat size. Clearly it has a better cert, color, and cut, but way smaller size, though it''s still very big. It gets a 1.4 on the HCA. I would buy it in a heart beat if not for this looming 2.7. I could get this stone for $7,500. So there''s no huge price difference between the two stones.

Another thing to take into consideration is that I already have a setting that I ABSOLUTELY LOVE, and it is built for a 1.5 stone. I would have to spend a little additional cash to buy a new setting for the 2.7 and would be left with an empty setting. I expect I would put a colored stone in it someday, but I really look at it as an engagement ring not a RHR.

So, would you take the risky 2.70 with it''s lower color grade, inferior cert, less than perfect cut that could be made ideal, for an AMAZING price? And take the loss on the already purchased $800 setting that has no return policy?
OR
Would you take safe route, the 1.50 with the perfect cut, color and clarity that fits perfeclty into the setting that has already been purchased?

The 2.7 is making me break all of my own rules for diamond buying. Help me! I feel like I''m in quick sand.
 
Well, go with an independent appraiser with cut appraising tool, like IS/ASET scope. Then go from the result from there.

The jeweler who sold the EGL stone is weird though. I doubt he would buy back the stone for even 7k so why is he surprise the owner is going to sell privately for less than what he sold him for...
 
If a trusted independant appraiser inspected the diamond prior to sale and gave it a favourable report then I would consider it, otherwise no.
 
Date: 6/25/2009 4:37:11 AM
Author: Lorelei
If a trusted independant appraiser inspected the diamond prior to sale and gave it a favourable report then I would consider it, otherwise no.
ditto
 
Private party sales are a place to get some good deals but it’s also a way to get stung. Be careful. You’ve obviously identified some of the traps and the key is to rely on your own expert, not theirs. EGL and the original selling jeweler are theirs. Also watch out for buying things just because they look like a ‘deal’. There’s nothing wrong with a K (or L or M) if that’s what you want but a good price on the wrong thing is no bargain. You don’t want to have her look at the diamond and think ‘it’s pretty good but …” and then try to offset that by pointing out the low price.


Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver
 
Date: 6/25/2009 2:00:43 AM
Author:Snicklefritz

So I found a 2.70 carat, K color, EGL-USA certed diamond listed on craigslist. Price is listed as $10,500 but the seller is considering selling to me fo $8,000 because he is ''desperate''. He is willing to meet me at an independent appraiser to have it authenticated, etc. I spoke with the jeweler who sold him the stone and he said it was a gorgeous, and was flabergasted that the seller would sell it for even $10,500. I asked about the coloring, obviously K EGL does not bode well, but he said the faint fluorescence makes it face-up like an I. I could live with that, though I doubt faint fluorescence has that much impact. No matter - I tend to prefer warmer stones. It''s just a question of how warm this K actually is. Unfortunately, I haven''t seen it in person yet, but I have seen a pic and it looks like a beaut, but pics are so subjective. I ran the specs he provided on the HCA and got all very goods. I figure I could always get it recut down the line if need be. No ASET, IS or Sarin to be had, sorry. So....is it worth pursuing or am I out of my mind? I know there are no safety nets if I buy from this guy, no trade-up or lifetime guarantees, etc.
Ditto the good advice you''ve gotten, but I personally would not hold out much hope as far as this statement goes. It''s usually strong to very strong flo that most impacts lower colored stones. I seriously doubt faint would do anything....
 
Thanks so much everyone! I honestly don''t know what response I was hoping to get from you but it''s clear which direction you''d go as long as all necessary safety measures were in place. I know I can''t really make a decision until I see the 2.7 for myself and then take it to an independent appraiser. I actually found one through PS, Therese Kienstra. I spoke with her yesterday, and she seems like a wealth of knowledge, very professional and very helpful. Plus she got a great review on PS. We had nearly a 30 minute convo on the diamond and I haven''t even made an official appointment yet.

Oh, and I forgot to mention that the diamond is an RB, but seems you all figured that out based on the HCA stuff. If anyone else has any thoughts, I''d love to hear them. Thanks!
 
The size difference is quite substantial and since the larger diamond has caught your eye, then it makes sense to go for an independant appraisal. You said the HCA says "all looks good," but what is the actual score?

It''s difficult for me to be subjective because I wouldn''t want a 2.70 (too big for me) so I would for sure go for a smaller stone from a trusted vender. CL isn''t the place I would go when looking to spend $8,000!

Best of luck.
 
Date: 6/25/2009 10:03:01 AM
Author: Snicklefritz
Thanks so much everyone! I honestly don''t know what response I was hoping to get from you but it''s clear which direction you''d go as long as all necessary safety measures were in place. I know I can''t really make a decision until I see the 2.7 for myself and then take it to an independent appraiser. I actually found one through PS, Therese Kienstra. I spoke with her yesterday, and she seems like a wealth of knowledge, very professional and very helpful. Plus she got a great review on PS. We had nearly a 30 minute convo on the diamond and I haven''t even made an official appointment yet.

Oh, and I forgot to mention that the diamond is an RB, but seems you all figured that out based on the HCA stuff. If anyone else has any thoughts, I''d love to hear them. Thanks!
I have been to her (in case you had not come across my posts), she is a real sweetheart.
28.gif
 
MC, the 2.7 got a 2.5 on the HCA. And here are the actual diamond specs...

Measurements 8.88 - 8.80 x 5.54 mm (a little off round?)
Proportions
Depth 62.7%
Table 57%
Crown 15.5%
Pavilion 43.0%
Girdle Thick Faceted
Culet None
Finish
Polish Very good
Symmetry Very good
Clarity Grade SI1
Color Grade K
Fluorescence Faint

I''d love to know what you think.

I admit, I am concerned that the diamond will be too big also, but I guess I''m holding off making that call until I see it. I tend to wear huge fake jewelry pieces, much larger than 2.7 carat, but then again, they''re FAKE. I don''t know how I''d feel wearing a genuine 2.7 diamond around on a daily basis. I guess I won''t know until I see it, which will be a few days from now.

Ellen, I''m glad you had a great experience with Therese. She did seem like a sweetheart, and I now feel even more confident going to her.
 
Date: 6/25/2009 11:47:27 AM
Author: Snicklefritz
MC, the 2.7 got a 2.5 on the HCA. And here are the actual diamond specs...


Measurements 8.88 - 8.80 x 5.54 mm (a little off round?)

Proportions

Depth 62.7%

Table 57%

Crown 15.5%

Pavilion 43.0%

Girdle Thick Faceted

Culet None

Finish

Polish Very good

Symmetry Very good

Clarity Grade SI1

Color Grade K

Fluorescence Faint


I''d love to know what you think.


I admit, I am concerned that the diamond will be too big also, but I guess I''m holding off making that call until I see it. I tend to wear huge fake jewelry pieces, much larger than 2.7 carat, but then again, they''re FAKE. I don''t know how I''d feel wearing a genuine 2.7 diamond around on a daily basis. I guess I won''t know until I see it, which will be a few days from now.


Ellen, I''m glad you had a great experience with Therese. She did seem like a sweetheart, and I now feel even more confident going to her.

Please do keep us updated, I am very curious how it turns out!
 
What is the clarity of the K?

I would definitely consider it. Do your due diligence . . . go to the independent appraiser, examine it under a microscope and in all lighting, etc. If everything checks out, it sounds like you could get a great stone for a steal.
 
Date: 6/25/2009 1:18:46 PM
Author: phoenixgirl
What is the clarity of the K?


I would definitely consider it. Do your due diligence . . . go to the independent appraiser, examine it under a microscope and in all lighting, etc. If everything checks out, it sounds like you could get a great stone for a steal.


The clarity is SI and I''ve been told it''s incredibly clean, for what that''s worth. And at this point, I think I will be pursuing it as long as the seller decides he is okay with my offer. He told me he might accept it because he really needs to sell it, and just wanted to sleep on it for a few days. So it''s not mine for the taking/leaving just yet. But if he agrees to it, I''ll have the stone examined from culet to table in all lighting situations, under various scopes, etc.
 
Date: 6/25/2009 1:31:38 PM
Author: Snicklefritz
Date: 6/25/2009 1:18:46 PM

Author: phoenixgirl

What is the clarity of the K?



I would definitely consider it. Do your due diligence . . . go to the independent appraiser, examine it under a microscope and in all lighting, etc. If everything checks out, it sounds like you could get a great stone for a steal.



The clarity is SI and I''ve been told it''s incredibly clean, for what that''s worth. And at this point, I think I will be pursuing it as long as the seller decides he is okay with my offer. He told me he might accept it because he really needs to sell it, and just wanted to sleep on it for a few days. So it''s not mine for the taking/leaving just yet. But if he agrees to it, I''ll have the stone examined from culet to table in all lighting situations, under various scopes, etc.

SI1
 
Any news?
 
Date: 7/1/2009 11:51:57 PM
Author: shimmer
Any news?

We bought it! I''m creating a new thread for it right now. Pics to come soon. It''s gorgeous! We LOVE it!
30.gif
 
Date: 7/3/2009 10:58:09 AM
Author: Snicklefritz
Date: 7/1/2009 11:51:57 PM

Author: shimmer

Any news?


We bought it! I''m creating a new thread for it right now. Pics to come soon. It''s gorgeous! We LOVE it!
30.gif

Here''s the new link...2.70 CT K
 
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