SOLD Questions about a 1.41 Carat Solitaire Diamond Ring

[ruby59]

I woud love your opinions. I have a 1.41 carat diamond in a platinum setting. It was rarely worn, and I would like to sell it. Ebay has become too dangerous to sell such as expensive item, imo. I am not that familiar with Diamond Bistro, but it does not seem to get much traffic.

It has a 3rd party independent appraisal from Arthur DeMello Appraisers that was done on January 28, 2012. He said the "put together" price was $11,000. I have brought it to a couple of local jewelers. I have been offered between $2,500 and $3,000. Is this about all I could expect?

Thank you for any suggestions.


Reading from the appraisal:

(1) One 10% iridium - platinum diamond ring weighing approx. 5.40 gram and measuring 1.50 mm wide shank. Ring contains an approx. 1.41 carat Round Brilliant Cut Diamond. Also are 1.50 x 2.60 x 6.00 mm tapered diamond baguettes of VVS Clarity, G Color and of very good finish and proportions. Approx. 0.15 carat each. The total weight of all diamonds is approx. 1.71 carat TW estimated in setting. The ring is of cast construction and in good condition.

Round Brilliant
7.30 X 7.30 X 4.32 mm
1.41 carats
Depth Percentage 60.8%
Table Percentage 57%
Girdle Thickness MED
Culet Size NONE
Polish EXCELLENT
Symmetry VERY GOOD
Clarity Grade SI-2
Color Grade G
Fluorescence None

Crown 34 degrees
14% crown height
Pavilion 41 degrees
43% degrees

 

[NKOTB]

Re: Questions about a 1.41 Carat Solitaire Diamond Ring

I would think you should be able to fetch more than that (maybe even from me - I'm looking for something that sounds exactly like that! ). Diamond Bistro has been having some issues, but I think it gets a decent amount of traffic.

Without certification (e.g. GIA), I think people tend to be more leery. The formula I've seen suggested in the past is somewhere around 50% of retail? But someone else can jump in on that.

 

[Dreamer_D]

Re: Questions about a 1.41 Carat Solitaire Diamond Ring

I think you should dismount it and send the stone to GIA. A reputable jeweler can help you out. That is the best way to detemrine price, and get the most money for your diamond. I do not think any private buyers will buy without a lab report, not a modern RB with that asking price. And you have seen how little the dealers are offering.

 

[ruby59]

Re: Questions about a 1.41 Carat Solitaire Diamond Ring

Thank you for the replies. I am not going to sell it at that price as it does seem very low. I see that Diamond Bistro is still not working right. I was going to list it on I dobutnowIDont (something like that) but they charge a 15% commission.

I might try ebay before some of the more rediculous changes take place in June.

 

[Dreamer_D]

Re: Questions about a 1.41 Carat Solitaire Diamond Ring

Ruby without a GIA report you will not likely get more than you have been offered.

 

[ruby59]

Re: Questions about a 1.41 Carat Solitaire Diamond Ring

Thank you, Dreamer_D. Yes, you are right about the GIA report. I was hoping that having a 3rd party independent appraisal, from someone who used to post on this forum, would be reliable enough. Also, of the 3 places I brougnt it to, they all agreed on his assessment.

As for the price, I was just hoping to get half at $5,500. I did not think that was unreasonable.

Do you know if places like JewelsbyEricaGrace would take it on consignment without a GIA appraisal?

 

[Dreamer_D]

Re: Questions about a 1.41 Carat Solitaire Diamond Ring

Thank you, Dreamer_D. Yes, you are right about the GIA report. I was hoping that having a 3rd party independent appraisal, from someone who used to post on this forum, would be reliable enough. Also, of the 3 places I brougnt it to, they all agreed on his assessment.

As for the price, I was just hoping to get half at $5,500. I did not think that was unreasonable.

Do you know if places like JewelsbyEricaGrace would take it on consignment without a GIA appraisal?

I know they will, as i have seen some rings listed with no official lab reports. I have ntoiced though that diamond posted without lab reports on DB/SPPLJ tend not to sell (exception: old cuts priced under $2000). If you were to obtain a detailed report from a PS appraiser with a sarin, and provide excellent photography it might be enough for a buyer. But I do think a lab report will make a sale much more likely in the case of a modern RB, and especially with the target market of DB and JBEG (i.e. PSers). The diamond you have is worth a tonne *if* it is reasonably well cut, and *if* the color and clarity are as stated. A buyer who risks buying with only an appraisal will need to verify the stats themself and go through hassel. Add a GIA report and it becomes a no brainer.

JBEG can facilitate sending the stone to GIA I am sure, or another jeweler. It will not cost much, a few hundred, and takes something like 6 weeks (depends on the jeweler I think). It will add time to the sale, but it could make the difference between sale or no sale.

No harm in testing the waters without a lab report! Trouble is that an appraisal like you want costs almost as much as a GIA report, and doesn't carry the same weight!

 

[Mico]

Re: Questions about a 1.41 Carat Solitaire Diamond Ring

I know they will, as i have seen some rings listed with no official lab reports. I have ntoiced though that diamond posted without lab reports on DB/SPPLJ tend not to sell (exception: old cuts priced under $2000). If you were to obtain a detailed report from a PS appraiser with a sarin, and provide excellent photography it might be enough for a buyer. But I do think a lab report will make a sale much more likely in the case of a modern RB, and especially with the target market of DB and JBEG (i.e. PSers). The diamond you have is worth a tonne *if* it is reasonably well cut, and *if* the color and clarity are as stated. A buyer who risks buying with only an appraisal will need to verify the stats themself and go through hassel. Add a GIA report and it becomes a no brainer.

JBEG can facilitate sending the stone to GIA I am sure, or another jeweler. It will not cost much, a few hundred, and takes something like 6 weeks (depends on the jeweler I think). It will add time to the sale, but it could make the difference between sale or no sale.

No harm in testing the waters without a lab report! Trouble is that an appraisal like you want costs almost as much as a GIA report, and doesn't carry the same weight!

Agree with the above, the GIA report would make someone much more likely to purchase - as well as not having to pay for consignment fees

 

[Dreamer_D]

Re: Questions about a 1.41 Carat Solitaire Diamond Ring

Are the proportions you posted from a sarin scan (the crown/pavilion/depth/table)? If so, your stone is a potential GIA Ex candidate and thus you would be crazy not to get a lab report

 

[ruby59]

Re: Questions about a 1.41 Carat Solitaire Diamond Ring

No. This was the assessment made by Arthur DeMello when he evaluated the diamond. He did it in front of me, but I believe he used calipers to determine dimensions.

 

[TravelingGal]

Re: Questions about a 1.41 Carat Solitaire Diamond Ring

Ruby there is no harm in trying to sell without the report, but IMHO someone will probably get shortchanged. Either you or the buyer.

I just sold a 1 carat cushion with a GIA report. Not only was it GIA but it carried a excellent sym and excellent polish rating - which is harder to come by in a cushion. Even with this info, it's not an easy sell. And by "easy", I mean it's not like someone came by and plunked down money and grabbed the stone.

I think the reason is that these stones (more carat, more expensive) around here may be purchased for engagement rings. Which means it's a first time buyer of diamonds (and all the stress that comes with it.) There are a lot of options out there and there has to be a really good incentive for someone who is buying an ering stone to buy from a private party. They're giving up a return policy, upgrade policy, etc. The stone better be a solid deal and/or hard to find/exactly what they are looking for.

I met the buyer at a jeweler and an independent appraiser to help him feel comfortable with the diamond. It may be that a different buyer would have seen the stone, the GIA report and plunked down the cash, but honestly *I* wouldn't feel comfortable with that. I wanted to make sure the stone would check out fine (hence the appraiser) and feel confident that everyone would come out happy.

A GIA report is key to that, IMHO with this level of stone. Especially since the others mentioned that on DB/Preloved, your target audience is PSers or newbies who are smart enough to come here to get a good diamond education. Without a report, your stone is just another round diamond. And there are plenty of nice round diamonds out there (vs at least with my stone, I did feel it was harder to find a stone like it for the price). So if you don't GIA it, you will have to come down a lot in price unless you have a somewhat uneducated buyer. My buyer was pretty darn savvy by the time he was done with his research!

 

[ruby59]

Re: Questions about a 1.41 Carat Solitaire Diamond Ring

Thank you for responding, Traveling Gal. And of course you are right. It is not that I am afraid to send it to GIA, but more of not really sure how. I did a search on here if private people can send it themselves to GIA, and from what I understand we can. I am reluctant to go through a jewelry store in my area because frankly after bringing the diamond ring to them, I have a bad taste in my mouth. You see all the advertisements in the paper where they promise top dollar for your diamonds, but in reality they will only offer 30% maximim.

I went on EricaGrace's website, and they are accepting diamonds on consignment. I went through their tutorial, and they will accept it without a GIA report. They will do everything inhouse. The commission is 15% but I think it will get a lot of exposure.

I am too afraid to sell it locally myself through an ad or Craig's list. Ebay is not what it used to be. And I am seeing that Diamond Bistro is still having problems.

I was also wondering if I could send it to one of the trusted appraisers on here who could then forward it to GIA.

I really thought an independent 3rd party appraisal had clout. And I picked someone who used to advertise here. And at $250, it was probably comparable in cost to sending it to GIA. But I do understand that when it comes to high dollar amounts, people are apprehensive. He valued it at $11,100 put together price. If all checks out, is $5,500 unreasonable?

 

[mandasand]

Re: Questions about a 1.41 Carat Solitaire Diamond Ring

You probably won't get $5500 for the ring without a GIA report. Hopefuly JBEG will facilitate sending it to GIA for you

 

[K9]

Re: Questions about a 1.41 Carat Solitaire Diamond Ring

ruby - I may be interested in your ring. My mom has been watching for something similar to this. If you'd like to message me via one of my db listings, would love to get more info! http://diamondbistro.com/other/2306/seller.html

 

[Dreamer_D]

Re: Questions about a 1.41 Carat Solitaire Diamond Ring

He valued it at $11,100 put together price. If all checks out, is $5,500 unreasonable?

Usually mounts do not affect pricing unless they are special designer pieces. PS search sugegsts GIA EX stones with the specs of your diamond are between $9500 and $10000. With no report you would deduct some unknown amount, but I would think at least 30%. So retail of $7000. So $5500 is a good starting point. If it were me is a situation like this I would send it to GOG to consign, they can send it to GIA for you, and you can even consider if a slight recut/tweak will make the stone a better cut grade depending on what GOG say. GOG have a sarin and Jon can tell you about the stone befoe you bother with GIA. That is what I personally would do, and you would likely get more money in the end.

 

[ruby59]

Re: Questions about a 1.41 Carat Solitaire Diamond Ring

Thank you Dreamer_D. So, I can send the whole ring to them, they will dismount it, and then send the diamond to GIA for me. Then after getting it back, they will put it on consignment? What does GOG charge for consignemt? Is there a tutorial on their website explaining what do do?

 

[ruby59]

Re: Questions about a 1.41 Carat Solitaire Diamond Ring

K9, I can forward you a copy of the actual appraisal emailed to me by Arthur DeMello. It will have my personal info on it, but I do not know how to crop the document.

I am just not sure how to contact you on diamond bistro.

Edited to add: I just signed up which allowed me to send you a message.

 

[Dreamer_D]

Re: Questions about a 1.41 Carat Solitaire Diamond Ring

Thank you Dreamer_D. So, I can send the whole ring to them, they will dismount it, and then send the diamond to GIA for me. Then after getting it back, they will put it on consignment? What does GOG charge for consignemt? Is there a tutorial on their website explaining what do do?

I believe so! I would just call them and tell them you are a PSer and want to speak to Jon, tell him about this thread. There is a fee I believe that is non-refundable for all the analysis, a fee for shipping, the GIA fee etc. I think all that might be about $500. Then commission (from which the non-refundable fee is deudcted I think) which is in the 10% to 15% range, can't recall. I was thinking of consigning my own RB with them last fall which is how I know this stuff. But yes, they can do everything for you, they are a full service jewelery store. I think JBEG can also do all the same things, but in this case I would be tempted to go with GOG because they can assess your diamonds characteristics in house before sending it to GIA (decide if its worth it, some stones on their site are offered without a GIA report but with all their fancy analysis, and that might be enough to get a sale for you). And GOG are well known for selling RBs.

 

[ruby59]

Re: Questions about a 1.41 Carat Solitaire Diamond Ring

K9, email sent to you with all documents from appraisal.

 

[ruby59]

Re: Questions about a 1.41 Carat Solitaire Diamond Ring

Thank you again, Dreamer_D for giving me options.

If I do not hear from the other poster, I will contact GOG. I can send them the appraisal I have, and they can let me know if they are interested in having me send them the diamond ring.

I did not realize until I looked at the appraisal again, but the put together price is $14,100, not $11,100. And Mr. DeMello assured me it was not a feel-good appraisal. To answer your question, the platinum band was never worn. What he liked about it was that the baguettes perfectly matched each other and the main diamond in color. I am just learning on here, but when looking at the diamond, I see those black arrows, which I think is a good sign that it is well cut.

 

[Christina...]

Re: Questions about a 1.41 Carat Solitaire Diamond Ring

Hi ruby, I was curious to hear what you've decided do with your diamond. Has it sold? Have you listed somewhere?

 

[ruby59]

Re: Questions about a 1.41 Carat Solitaire Diamond Ring

I brought it to a local jewelry store. Their inhouse gemologist agreed with my 3rd party appraisal. So they purchased it.

 

[Dreamer_D]

Re: Questions about a 1.41 Carat Solitaire Diamond Ring

I brought it to a local jewelry store. Their inhouse gemologist agreed with my 3rd party appraisal. So they purchased it.

can you share what they paid you? I am always curious about such things!

 

[ruby59]

Re: Questions about a 1.41 Carat Solitaire Diamond Ring

Hi Dreamer,

They originally offered $3,000. But I got them up to $3,500. While I was sitting there, they were talking up a platinum setting with baguettes to another customer. So when they told me my exact setting was passe, I kind of used that against them.

I could have sent it to Jewels by Erica Grace or GOG. They probably would have listed it for $5,500 to $6,000. With their 15% fee, I might have made a little bit more, but it also could have just sat there for a while.

I am satisfied with the $3,500.