5 replies to this topic

[RedSkyAtNight]

Hi - I hope you all can help me. I have a certified diamond, .83 carats. I don't know the other specifics, but it was very clear, white, and round. There were two small marks that could be seen under a microscope.

It is part of a property settlement in a divorce. It was suppose to go to an estate sale. The proceeds are to be split 50/50.

I hate to bring you into my drama, but the ex has refused to let go of it. Before I go to my attorney, I'd like to give him the opportunity to buy me out.

He paid $3000 for it in 1998, but it appraised at $6000. So, ten years later..........should I base an offer on the $3000 or the $6000? If it were to sell in an estate sale, would it sell for $500 or $5000?

I've also read on this forum that diamonds appreciate each year. Is there a fair percent I can figure into the $3000 or $6000?

I'm trying to be fair and do what I can before involving the court, so any helpful information would be most appreciated. I also can't take it to a jeweler because he has the ring and won't let me near it. He's also not going to take it to a jeweler.

Thank you for all your help,
Wendy

[denverappraiser]

You need to get it appraised by an independent appraiser (meaning someone who doesn’t buy or sell jewelry). Make sure the appraiser understands what your purpose is, that the value and market selection are appropriate to that purpose and that this is all in writing and signed in the report. What was paid 10 years ago is irrelevant and what it ‘appraised’ for then is doubly so. Offer nothing. If he won't release the ring for a professional inspection, tell him that he can keep it for $20,000 and you'll take $20k worth of other property to balance it out ... cash is always good. It's his call.

Neil

[RedSkyAtNight]

Thanks Neil,

That is not the answer I was looking for. I KNOW he will not get it appraised, but I'll make your offer, who knows what will happen.

Thanks also for replying so quickly. You've saved me a lot of time and effort trying to figure out what to do.

Have an awesome day!
Wendy

[denverappraiser]

Red, you are being had and you are making yourself a willing accomplice.

Now THAT’S and answer that you didn’t want to hear. At any time he can (and should) have it evaluated and, assuming he's got an attorney that's providing him with good council, I think there’s a decent chance he already has. He knows the facts, only you are in the dark, and he’s asking YOU to make an offer based on no information at all so that HE can then decide to accept, decline or counteroffer. What’s wrong with this picture?

Neil

Edited by denverappraiser, 09 December 2008 - 09:47 AM.

[davidelevi]

Wendy - I agree with Neil. If he is not being reasonable, perhaps he deserves some of that unreasonableness (?) back. A fair offer in that context is forcing him to make a choice - it's either an independent appraiser or $20k. That's your best estimate.

Best of luck!

[RedSkyAtNight]

Thanks guys - that is exactly the answer I needed to hear! I've often been accused of being too nice. I want to cover all my bases before going for home plate and you all helped me cover them nicely.

Thanks for the unclouded advice.

My best to both of you,

Wendy