33 replies to this topic

[HeartAndStone]

Hi tinindian!

If that's the case., give that stone a rest for a while, get a certification, learn more about the diamonds and you'll fall in love all over again. I hope you can post a picture of that diamond that we are talking about.
And, cheer-up!

'Till then!

Keep us posted

[davidelevi]

Colour grading is not a "dead-on science" (although it could be, but that's another debate entirely). Bear in mind that the colour scale is totally non linear, and the steps are somewhat arbitrary in their location. In addition, each grade is a range, so you have L's that are almost a K, and L's that are almost an M. From your descriptions, however, what you have sounds a lot more like an L than a G, and in any case Neil is totally right - what any of us thinks of the stone is totally irrelevant since you are going to get a GIA grade.

Incidentally, since your appraiser has a diamond store, and has suggested you sell the stone at $4500, ask him if he is ready to offer you the 3500 you want for the stone. I would wait to pose the question until he is drinking something. That way it will be much more fun to watch.

Edited by davidelevi, 04 June 2010 - 10:50 PM.

[tinindian1997]

well i just got the cert back from GIA. it took a while since the stone was misplaced for a while. everything was pretty much confirmed, now it is up on ebay and some local classifieds.

[davidelevi]

Everything in what sense? I tried to find your diamond as 0.95 L-VVS1 on eBay and could not...

[tinindian1997]

sorry, it was NOT vvs1 as the appraisal stated, it is in fact a vvs2

[tinindian1997]

i also opted for the engraving on the stone so that the registry number matches that which is on the stone.

[davidelevi]

Thanks for coming back. I'm still trying to find it, out of curiosity, and I cannot!

Good idea on the laser inscription - you have something that people can identify easily and that gives them some reassurance that the diamond is what it says on the report.

[HeartAndStone]

Hi! Welcome back...

Why not post it here on Jewelry Classifieds? So we can have a good look... I believe your previous posts can help establish your credibility too. Good luck! Hope to see that diamond here anytime soon.. Cheers!

[tinindian1997]

I have posted it in the classifieds here. I have no pictures since i dont really have a camera that can take a good pic of the stone. And I am sure every one here already knows what a diamond looks like. I included the registry number as well so anyone can look at the report. Thanks for all your responses.

[davidelevi]

Best of luck!

BTW - couple of tips for a photo (a decent pocket camera will take very nice photos as long as it has a macro mode; mobile phones are definitely not good enough)

- Use a neutral background (grey) rather than black, white or coloured
- Use diffused natural light as much as you can, plus a couple of halogen spotlights to get some sparkle and fire into the stone; avoid "normal" bulbs and fluorescents
- Clean the stone really well prior to taking pictures

[tinindian1997]

Honestly now, does this price seem fair?

[davidelevi]

Personal opinion - I haven't seen the stone, and I don't know your situation. Take with a bucketful of salt.

To start with, L/VVS2 is an unusual combination, and not highly in demand. There will be people that like it, but they will be relatively few.

Equivalent stones (L/VVS GIA with a decent cut - VG or EX) are all below $3000 on this site. Even going up to the top of K/VVS prices, the market is still below what you are asking. And these are prices that established retailers charge the public before any further negotiation/discount (perhaps not high, but there is the room for it), and they are prepared to ship stones to whomever where-ever the potential client is.

I understand your preference for a local sale, and that is fine, but it does restrict your market. If you are looking at comparables from an established dealer at $2700, you should count yourself lucky getting 70% of that when addressing the same market. If you restrict yourself to the local market, the price must come down to ensure you move the stone within a reasonable amount of time.

Considering all this, I would think that a price of $1500-1800 is more reasonable. And you definitely need some pictures - bear in mind that you are selling in the same market as do people with very slick sites, with on-line photographs, videos, scans of reports etc.

Let me know if you want me to delete or change this post once you have read it.

[tinindian1997]

I am more then willing to ship this stone and advertise in better markets. That why I have the ebay listing. As for my Craigslist listing, they have changed their policies and won't allow me to post ads in larger metro areas since I have one already posted locally. This is nuts about the value of diamonds. It is worse to buy a diamond retail then a new car. It seems that a diamond, if bought retail, loses 50% of its value the minute you swipe your card? And the stone doesn't gain much value over the years? If what my family said is true, My grandmother spent nearly $5000 on my grandfathers ring which included this sole stone. This was in 1984 or so. Why do people love these stones so much? I can see why a retailer loves them I guess but otherwise I don't understand others love of diamonds. Maybe I am a little jaded, but am I missing anything here? If I can't get my price for this stone, I will not sell it. $1800 will not help my cause enough to justify the loss of the heirloom. And you dont need to erase your post David, this is the honesty I seek.

[davidelevi]

I agree with you - diamonds are not a good investment. There are a couple of mitigating circumstances, to be fair: your diamond is not of the type that would be likely to ever make a good investment, it was probably bought at or near the top of a speculative market (the diamond bubble burst in 1981/82) and - to be honest - definitely not at a good price, even for the early '80s.

The "problem" with diamonds is that:

1. They are largely unique (or at least, far less commoditised than cars)
2. They are largely illiquid - partly because of their uniqueness
3. The structure of the market is such that there are large transaction costs (e.g. the cost of inventory) which are not apparent at first sight.

In addition - although this has been corrected since the arrival of the internet - it was traditionally a very opaque market, with significant margins even for mediocre quality goods. This is no longer the case, but you are suffering at both ends (bought high, trying to sell low).

All in all, you may indeed be better off to recycle the stone for someone you love; my only regret is that you have spent $150 or so in getting a GIA report which is not very useful.