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too good to be true?


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Hi,

a friend of mine just bought a 3,06 c round shape diamond VS1- H for $10500 from a guy from Israel in Norway

She took the stone to the lokal Norwegian jeweler and he said it was a very nice diamond.

I have not seen the papers my self, but she tells me its really real and I belive her since I know the jeweler she took the diamond to.

This Israely man is not a jeweler, but he brings the diamonds from israel to Norway and sell it on the black market. He is selling mostly to the high society womwn in Norway and I know many women that buy from him. They all say they get the stones appraised at mutch more than they pay from the israely guy.

I must say I am tempted...

But still , at the black market, is this not a too low price for a 3 carat ???

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Of course it’s too good to be true, but you already knew that. The question is why.

 

Lets start with some quick research.

Use the ‘Find Online Jeweler’ button at the top of the page and search for 3.00-3.09cts H VS1 round diamonds. That produces about 80 offers from 10 or so different jewelers that range from $30k to $50k. It’s a little more work to get an immediate offer from a local jeweler but around here you can expect it to be in the $40k to about $70k range. I’m sure if you visit one they will be happy to give you a price. The differences within that range have to do with the cutting, the accuracy of grading, and added services offered by the various dealers/labs/cutters that are involved. The bottom seems to be about $30k if you’re willing to compromise on all or most of these things.

 

So why is your guy anxious to sell for 1/3 of that? Here’s some theories:

 

#1 Your numbers are simply an error. He means $10k per carat, not $10k total.

#2 He (and his supplers) don’t know that they could get more money by selling differently. You are incredibly fortunate to meet up with a criminal who knows lots about diamonds and nothing about business.

#3 He doesn’t need the money and he and his suppliers are doing a favor for you and the other fine ladies of Norway for the fun and excitement of being a diamond dealer and the warm feeling they get by giving you a good deal.

#4 All of those other dealers are total ripoffs and the only diamond dealer in the world that can be trusted is this guy, a self-described criminal.

#5 There are other people, like tax collectors, in the legitimate chain who are responsible for the bulk of the money that's being saved by buying from him. He's cheating everyone else and passing the savings on to you.

#6 There is a vast and evil empire controlling the diamond business that he is undermining and is passing the savings on to you. He has only your best interests at heart. The rest of us are all minions of DeBeers and therefore can’t be trusted.

#7 Those dealers who are trying to get $30k-$60k for similar goods that you see advertised aren’t actually getting it. Asking a lot and getting it aren’t the same thing after all.

#8 He’s lying. It’s not as described. In fact, it’s way off. For example. It’s not a diamond. Or instead of VS1 it’s I2. H really means N. Important things, not just puffery. Possibly several of these things.

 

Ask him. He’ll have an answer prepared already. This is his livelihood. Listen carefully to what he says and ask additional questions if you don’t fully understand it. Take notes. Come back and tell us what he says and we’ll help you deconstruct it.

 

Neil Beaty

GG(GIA) ISA NAJA

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