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Non-certified Stones


goodmojo
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I'm strongly considering purchasing a non-certified stone despite the potential pitfalls of buying without knowing what I'm getting. My ultimate question is, does this price seem reasonable for what Im being offered?

 

What Im being offered:

-1.54 round stone for $6100.00

-tag and seller say "Ideal Cut". it DOES to my lamen eye appear to have excellent brilliance, nice crown and table proportion without too much bulk above the girdle as some older stones have.

- SI1 - i noted two feathers to the outside of the stone with a 10x loop when viewed from the side/bottom. i couldnt see the feathers from the top-down view. i couldnt see any dark inclusions at all under the loop.

- I in color

- 30 day in writing, full refund/exchange for any reason at all.

-verbal assurance that the stone has not been treated/lasered in any way.

 

to the naked eye and under the 10x loop, the stone "looks" great to me, even when compared to some GIA cert stones. i like the look of it and ive looked at a few dozen stones in my education process. the dealer came recommended to me from a very close friend whose family has bought some rather large/expensive stones from him in the past. and they are all happy years later.

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If all your facts are correct, the price is reasonable, but you already knew that. There are several important claims being made here where you are relying entirely on your trust in the vendor.

 

1) Clarity = SI1

2) Color = I

3) Cut = Ideal

4) There are no undisclosed attributes to the stone that you should consider important (treatments, damage, durability problems, etc.)

 

There is no way for anyone here to estimate if your trust in them is well founded. I’ll take your word for it that it is but this really is the heart of your question. Personally, I would hire the services of an independent expert during your 30 day return window to check it out and confirm that it is as it’s being properly represented. I also might ask them to ship it to GIA for grading with the qualification that you will agree to both buy it at the full asking price and pay for the GIA fee if it comes back as they have described it. If not, the deal is off. Be aware that 30 days is pretty fast for GIA if you don’t happen to live in their neighborhood and you must allow time for shipping two directions.

 

Neil

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thanks neil. i intend on purchasing the stone and not setting it for that 30-day window. At least not setting it until i get 2 or more independent appraisals on it.

 

When i used the word "reasonable", let me clarify. I meant is this price too low for what the vendor says he's offering me. It seems to be a little on the inexpensive side to me and I'm wondering, "why would anyone offer to sell it for less unless it is worth less than he says?" We negotiated down from $6300. Maybe im wrong however and his price is in the right range at @4k/carat.

 

My follow up question would be, is there anywhere specific someone here can recommend to get an appraisal from in L.I., New York? I really dont know where to go so I was thinking of hitting an appraiser on 47th Street in NYC and maybe a larger retailer like Whitman Jewelers.

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I also might ask them to ship it to GIA for grading with the qualification that you will agree to both buy it at the full asking price and pay for the GIA fee if it comes back as they have described it. If not, the deal is off.

 

I really like this suggestion. He had told me in the past @$200 to get the GIA certs on any stone i was interested in. I think I will pursue this with him.

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You're right that it's suspiciously cheap. For most professional diamond dealers, selling a 1.54 SI1-I ideal for more than $6,100 is pretty easy. You can use the 'find online jeweler' button at the top of the page to find offers from various people for supposedly similar items.

 

Selling it without a lab grading report is decidedly more difficult. It's possible that the stone is owned by someone else, perhaps a customer who traded it in, and the store is just looking to flip it quickly to make a few bucks without the need to tie up their money long enough to send it in for proper documentation.

 

Here's a few places to hunt for appraisers:

www.ags.org

www.najaappraisers.org

www.appraisers.org

www.isa-appraisers.org

 

Neil

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It's possible that the stone is owned by someone else, perhaps a customer who traded it in, and the store is just looking to flip it quickly to make a few bucks without the need to tie up their money long enough to send it in for proper documentation.

 

That was the gentleman's response when i asked him about it a couple weeks ago. I asked how much value a GIA report ought to add to a stone like that in selling terms and he said about 20%. So I asked why in the world would someone NOT do that. His response was that it eats up time. Weeks or more. So I assume its a liquidity issue(if its legitimate), tho he never said if he was selling it on consigment or such.

 

You can use the 'find online jeweler' button at the top of the page to find offers from various people for supposedly similar items.

 

This I did right away. I think i found two stones that were EGL (which im hearing almost guarantees a color grade or two higher than GIA would offer) and priced slightly higher, like 6700 or so. The rest were GIA and much higher.

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Mo,

 

It sounds like you know your answer. If you otherwise like the stone and you otherwise feel you can trust the dealer, buy it along with the offer of a $200 GIA exam and a 100% refund if it doesn't come back as expected.. Make a requirement of a cut grade of 'Excellent' since GIA doesn't use the term ideal.

 

Neil

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