33 replies to this topic

[tinindian1997]

Hello all, I am new here and have NO expirience with stones. I have a diamond that I inherited that I am now interested in selling to help finance my move to the Tampa area. I have listed it in craigslist with no luck and I am now thinking of selling it on good ole EBAY. I have had it appraised but was a little dissapointed at its value ($4500). And I have noticed that my competition on EBAY only sells certified diamond. So in hopes of getting top dollar I am willing to invest in a GIA cert. of the rock. What are your feelings and do you have any suggestions as to better places to sell the stone? And what do you think would be a fair selling price? Thanks to all who reply. Michael.

.95 round cut - VVS1 - I forgot the color, I believe it to be F or G, Slight yellow tones, nearly colorless.

[barry]

Definitely get a GIA Lab report. GIA is a world known brand name and carries clout.

[denverappraiser]

Most ebay sellers seem to prefer the off-brand labs because they get a higher sounding grade but my general feeling is that you’ll do better with the real thing. Check the completed auctions and see who is actually making sales (as opposed to just looking at the listings to see what’s out there). The difference between VVS1 and VS2 is a huge deal and the only way anyone is going to believe a VVS1 grade is a GIA report to back it up. F-G colors don’t look slightly yellow. Even I’s don’t look yellowish under normal viewing conditions. What’s your current source of the grading? Does the stone look yellowish to you?

In answer to your question in the headline, if that grading is even close to correct, there are no major zingers like damage or a cut grade below 'Good', and you are planning on selling directly to a consumer then yes, it's worth it. If there are problems with the stone that will require recutting or repair probably not.

Neil

[davidelevi]

Some more thoughts:

If you were a buyer, would you trust your profile as a seller on eBay for a $4500 diamond purchase? If the answer is "probably not", having a grading report by a serious lab may bolster your credibility.

Who is your competition on eBay? I would suggest it is not the professional retailer of jewellery, or the consignment business. It's the other private individuals selling one off items. And it's a lot tougher for them to move stuff.

On the other hand, if the report comes up K-SI1, fair cut, it may well make the stone unsaleable if advertised as such, so it may simply mean $150 down the pan.

I think your first step should be that of figuring out to what extent you trust the grade you have reported above (presumably by the appraiser: how qualified are they? Were they recommended to you? By whom?). Secondly, make sure that the appraisal value that was given was for resale by a private individual; an insurance replacement appraisal is worse than useless in your circumstances.

Also, consider other routes. Idonowidont.com and consignment may be easier routes than eBay.

Edited by davidelevi, 01 June 2010 - 01:29 PM.

[barry]

The bottom line is that the color/clarity grading by GIA is recognized for its accuracy, stringency, and consistency. There is no doubt and pricing is hence more solid than if the stone had been graded by a nondescript alphabet grading lab.

[tinindian1997]

the yellow is nearly impossible to see unless it is backed by a very white background. he said he could find no inclusions or other flaws with the stone. he kept telling me this is not the type of stone one would usually see in a normal retail chain jewelery store in the mall.the deal with ebay is that i see nothing but ads from "the diamond king" and everything he has is certified. i just nee to make sure i get all i can from this sale.

[denverappraiser]

Send it to GIA for grading.

How much you can get will depends both on the results from GIA and your own skills at selling but it will almost certainly sell for enough more with a pedigree to justify the GIA fees and shipping, especially if that VVS1 clarity is reasonably close to correct.

Did you ask your appraiser this question? What did he say?

Neil

[tinindian1997]

i never asked about getting it certified. he thought i should put it on craigslist or ebay as far as where to sell it. i think i am going to go ahead and send it to New York to get it certified.

[tinindian1997]

i forgot to ask, what would be a decent asking price for a stone like mine after i do get it certified?

[barry]

Depends on the GIA grading.

Once you get the report you can compare it to similar graded stones on the diamonds database listed on this website.

[denverappraiser]

The details on the GIA grading are BIG deals. That's why buyers insist on it and are willing to pay a premium to get it. A few grades here or there, problems with the finish or the cutting etc. can easily make a factor of 4 difference. After you get the data, you can use the 'find online jeweler' button at the top of the page to find comparable items offered from the dealers here. Choose the cheapest one that meets the specs of what you've got (include only GIA grades stones since that's what you'll have). Try and get 3/4 of that comparable dealer's asking price. Don't be too surprised if you have to come down from that but I doubt you'll have to go below half. The difference is in that area of how skilled you are at selling things. You can get a feel for what to expect in advance by searching for stones and making some assumptions about the grading. Frankly, I'll be surprised if that VVS1 is correct but search for stones ranging from about F/VVS1 to I/VS2 and you'll have a decent idea of your range.

These are questions you should be asking your appraiser. He's seen the stone, he is presumably familiar with the marketplace and you've paid him for his expertise. Ask questions, it's part of what you paid him for.

Neil

[HeartAndStone]

Hi tinindian!

Welcome!
IMO, GIA's certification will work for you, so why not increase your chances.
I guess it's best to set your intentions. When it comes to selling diamonds you need credibility, supporting papers and reputation.,or at least pick one.
Just take one step at a time, find other websites that will help you sell your diamond.
Keep us posted, ayt?!

'Till then, cheers!

[tinindian1997]

Just an FYI i got my appraisal paper and it reads as follows... Round Brilliant cut - VVS1 @10x clarity - L v.point 1 yellow color - medium girdle - v.small culet - 64.9% table - L 6.31 W 6.33 D 3.81. i looked at the online jewelers and found no stone like this. i was off a little on the color.

[denverappraiser]

I've no idea what 'L v.point 1 yellow color' means. Is that the same as 'L'?

Try lowering the clarity in looking for online comps. If the L color is correct to the GIA grading scales, very high clarity doesn't make all that much difference anyway. Not many people want to pay a premium for high clarity and then accept an L color so VS's and even SI's are about the same price as VVS's. Unfortunately, I think you'll find that this this will not be an easy stone to sell but I still think a real GIA grading will help by enough to justify the cost.

Searching for 0.9x/L/vs2+/round, I find dozens of stones for sale in the database here.

Neil

Edited by denverappraiser, 02 June 2010 - 09:43 PM.

[davidelevi]

"v. point 1" = very faint?

[tinindian1997]

yea, the color is L, v.point light yellow was his description. i dont really understand it either.

[denverappraiser]

If you don’t understand what the appraiser has told you or has included in his report, he hasn’t completed his job. Call him up and ask questions. As with your valuation question, this is part of what you paid him for.

Neil

[tinindian1997]

ok, i will be sending the diamond off either tomorrow or monday. this color thing is really bugging me. i have looked around and a diamond with a g color rating is worth almost double my l color grading is getting. now i can believe the vvs1 since that is what the original seller said it was (it was bought from a jeweler in 1983 and we managed to find her) 3 jeweler who looked at said that. as well as the appraiser. but when i look up L color diamonds they all share si1 and 2 for clarity. the only time the color yellow ever came up was when the appraiser put my stone on this white, constrction paper like, "thing". and even then it was the most pale hint of yellow. almost "off white" compared to the paper. i quess i am woundering, what does "L" grade color look like? oh, my appraiser also owns a diamond store (which is were i took the stone). is color grading a dead on science? could maybe, just maybe, my appraiser be down grading the stone? i mean he said it was worth $4500 retail, and when i asked where i should price it he said $4500. which, doesn't seem like good advice to me. i know the difference in retail and real world prices. i dunno, maybe i should just suck up the dissapointment and carry on.

[denverappraiser]

I’m inclined to agree that your appraiser seems to be giving you conflicting advice in that I GUARANTEE that you aren’t going to be able to get $4500 for an undocumented 95 pointer and he surely knows this, no matter what the claimed grade is. It’s unlikely you’ll be able to get that even after you document it, even if it turns out to be a G, and even if the cutting is excellent, both of which are seriously in debate. As you’ve observed, these are big deals and, yes, I think you’re likely to end up disappointed if your expectation is to see that budget realized. The next step is to wait and see what the lab has to say about the grading.

If you really want to see what G’s and L’s look like, go to the store(s) and ask to see some. Limit your viewing to GIA graded stones and train your eyes. The steps between the grades are tiny but 5 grades is noticeable to nearly everyone if they’re looking for it. In the end it doesn't really matter. Your potential buyers are going to be bidding based on what GIA thinks. What you, I, or your appraiser might think are, at best, academic issues.

By the way, using the ‘2 out of 3 jewelery store workers surveyed’ approach isn’t a very good strategy for learning much of anything and actually can lead to some serious confusion. Having an unpopular opinion doesn't make it wrong (or right). If you don’t trust what the jewelers/appraisers have to say, don’t, but don’t try and average the idiots with the gurus or you end up more confused than you started. Being a retailer does not, of itself make them unreliable any more than calling oneself an appraiser makes them right. Use other clues, like their training, tools and whether you get a feel that they’re lying to you about other things that are easier to catch. If you deem them unreliable, dismiss their opinion ENTIRELY.

Remember to pack carefully and use good sense in your shipping. If you're in the US, US Post Office Registered mail service is the way to go.

Neil

Edited by denverappraiser, 04 June 2010 - 06:44 PM.

[tinindian1997]

the thing about this diamond is who ever i show it to gets real excited about it (the jewelers, not friends and family). the first things out of their mouths is always "WOW, this is NICE". i never expected $4500 from it, i was hoping for $3500 but that seems optimistic now. i have this distrust universally for salesmen. and i can usually sense when something just ain't right. but when he told me to sell it for $4500 all sorts of bells and whistles went off as i pondered his motivation. that why i went half heartedly into selling the stone and whole heartedly about learning about this stuff. the more i learn, the less i like diamonds. i should have done the certification first. because i really doubt the GIA's finding are going to match his.