New to diamonds so starting out small. Maybe this is a strange question, but I am trying to purchase diamonds for earrings. I looked at a pair of loose diamonds (at a local jewelry store, not chain store) that was 1.5 total weight. SO here I am trying to do a little research.
The owner quoted me a price for near colorless VS1 for the pair, let's say at $4K. He also stated that they would appraise for about $5500 to $6K, because he sells wholesale.
I have been lurking at this and other sites and it looks like prices for ONE 0.75 carat (not two) is almost $4K. Does this sound right? Why the major price discrepancy? WOuld not having a GIA certificate adversely impact the price?
Any advise or input is greatly appreciated. This jeweler does a lot of custom jewelry, so I'd like to know if he's kosher (or at least what he's telling me) so I can start a relationship with them.
Thank you
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Wholesale vs Retail
Started by Guest_IWannaB_*, Jun 08 2006 12:58 PM
2 replies to this topic
#2
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- Member
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Cut Diamond
- Gender:Male
- Location:Elkhart, IN
Posted 08 June 2006 - 01:23 PM
Wholesale has become just a sales gimmick word..
Throw it out of the equation and look at the value of the stones to you regardless of the words retail or wholesale..
Throw it out of the equation and look at the value of the stones to you regardless of the words retail or wholesale..
Steve
Gear Head - Designer - Bench Jeweler - Artist - Web Developer
AnimalCharms.Net
Gear Head - Designer - Bench Jeweler - Artist - Web Developer
AnimalCharms.Net
#3
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- A-List Appraiser
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- 5,148 posts
Ideal Diamond
- Gender:Male
- Location:Denver Colorado, USA
Posted 09 June 2006 - 12:57 PM
There are several things here.
As Steve points out, the word ‘wholesale’ is meaningless. Ignore it.
‘Near colorless’ is also a highly suspect term. This can mean anything from about ‘H’ to ‘M’. I always assume the worst when people use these sorts of terms but maybe I'm a cynic. It MIGHT be a G.
‘Approx.1.50cts total weight’ does not necessarily mean two stones at 0.75cts each. In fact it probably doesn’t. Depending on whose rules they’re using, 1=0.69 and 1=0.78 just might qualify.
‘VS1’ according to whom? Not everyone uses the same grading scale and not everyone applies the scales the same way. One graders idea of a VS1 can be another graders idea of an SI1. These things are not nearly as carved in stone as people would wish. If you don't know who the grader was and you don't have a solid reason to believe them, take it skeptically.
‘Appraised for’ can mean a lot of different things depending on the appraiser and how they are doing their craft. Asking $6000 for a pair of earrings is not the same as getting it. Make sure you understand what question the appraiser is answering before concluding that you understand their answer. ‘What is this worth?’ can be reasonably interpreted in several different ways.
A GIA report on a stone that size will raise the price by about $100 each for the lab fees. The more important affect is that it establishes a much more solid basis for the grading. For stones over 0.50cts, over I-1 clarity or over $1000 each, I recommend it as worthwhile.
Neil
As Steve points out, the word ‘wholesale’ is meaningless. Ignore it.
‘Near colorless’ is also a highly suspect term. This can mean anything from about ‘H’ to ‘M’. I always assume the worst when people use these sorts of terms but maybe I'm a cynic. It MIGHT be a G.
‘Approx.1.50cts total weight’ does not necessarily mean two stones at 0.75cts each. In fact it probably doesn’t. Depending on whose rules they’re using, 1=0.69 and 1=0.78 just might qualify.
‘VS1’ according to whom? Not everyone uses the same grading scale and not everyone applies the scales the same way. One graders idea of a VS1 can be another graders idea of an SI1. These things are not nearly as carved in stone as people would wish. If you don't know who the grader was and you don't have a solid reason to believe them, take it skeptically.
‘Appraised for’ can mean a lot of different things depending on the appraiser and how they are doing their craft. Asking $6000 for a pair of earrings is not the same as getting it. Make sure you understand what question the appraiser is answering before concluding that you understand their answer. ‘What is this worth?’ can be reasonably interpreted in several different ways.
A GIA report on a stone that size will raise the price by about $100 each for the lab fees. The more important affect is that it establishes a much more solid basis for the grading. For stones over 0.50cts, over I-1 clarity or over $1000 each, I recommend it as worthwhile.
Neil
Neil Beaty
GG(GIA) ICGA(AGS) NAJA
There's never a crowd when you go that extra mile.
Professional Appraisals in Denver
GG(GIA) ICGA(AGS) NAJA
There's never a crowd when you go that extra mile.
Professional Appraisals in Denver
