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8.07ct Certified- Retail Price?


PankratzGems
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We just got in a few diamonds, and one of these has to be one of the nicest diamonds we've had in in a long time. I'm sitting here looking at it, and I can't get over how great it is. It got me thinking, though. I know what I paid for it, and what I'm going to sell it for- but once it's set in a ring- what's it going to sell for as a final, retail product, set and all.

 

Here are specs from the certificate (IGI):

 

Shape, Cut: Round Brilliant

Carat Weight: 8.07 Carats

Color Grade: i

Clarity Grade: VVS2

Cut Grade: Excellent

Polish: Excellent

Symmetry: Excellent

 

measurements: 12.94 x 12.98 x 7.79 mm

Table: 59.5%

crown height- angle 13.5%-33.5 degrees

Pavillion depth- angle 43.5% - 41 degrees

Girdle Thickness Medium to SL Thick (FAC)

Culet: Pointed

Total Depth: 60.1%

Fluorescense: None

 

Comments: Laserscribe on Girdle: IGI S1F5XXXX [complete number X'd out]

"Ideal Cut Round Brilliant"

 

We've got a few more real impressive stones, a 4.53 carat IF Round Brilliant, and the biggest princess I've had, a 7.10ct VS1 J color (big, but not that great in terms of clarity)

 

Tell me what you'd think this'd cost retail if you could. I can't find anything very close to it for sale retail; I'm not too surprized.

 

Thanks,

Mathew Pankratz

Owner, PankratzGems

pankratzgems.com

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Well, I doubt it's going to end up in anything but a businesses hands. We've only been selling diamonds (or anything) to individuals since october- and to only 8 or 9 clients. I'd never allow there to be a difference in prices between business and individual clients. 1 diamond or 50 diamonds, the price per peice is going to be the same.

 

Still, though, my question isn't what I'm going to sell it for- I've already got a pretty good idea about what that'll be.

 

I'm just wondering what the price-tag it'll be given when it's set and put out under the glass. It'll look good out there, that's for sure.

 

Mathew Pankratz

 

PS- I gotta disagree. We deal in only GIA and IGI certifications (where our cutting center has them graded), and when they get to us, the GIAs tend to be stricter than the IGI certified diamonds, though they sometimes are one-grade different. I can't think of any reason for "an explanation" We're always happy to have any stone GIA certified. The issue's only come up a few times, though.

Edited by PankratzGems
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I agree with you that for this kind of thing the distinction between retail and wholesale pricing loses it’s meaning. This leaves me at a loss as to what you’re asking. How much is your dealer customer going to charge to set it and make it into a ring? Ask them. It makes no sense for any dealer to be interested in buying it for resale if they can’t get a markup and, as you point out, you are planning on pricing and marketing it in a way that this isn’t available so again, ask them if they are even willing to be involved with it. IGI often provides a very big number that they identify as a value on their reports. I don't think that even they expect anything to change hands in even the most outrageous stores at their suggestions for retail prices and no insurance company will pay those values in the case of a loss but they look good on price tags. Is that what you're looking for?

 

I’m absolutely with David that an 8 carat VVS with IGI paperwork is a huge red flag. If indeed GIA would give it the same grade, and if ‘ideal cut’ means even as much as ‘very good’ in the new GIA scale, you would make tens of thousands of dollars extra if YOU sent it to GIA for grading post haste. Your customers would even thank you for it. The same is true for the people who sold it to you by the way. The only explanation I can think of is that you and your supplier both know that the ‘facts’ that you’ve presented here are, at best, inaccurate and misleading. Depending on the state you are doing business in, that alone might qualify a sale to a client who relies on what you tell them as criminal misrepresentation.

 

Better legal position, easier sale, happier customers AND more money if you get GIA paperwork. That sounds like a slam dunk to me. Why haven't you done it?

 

Neil

Edited by denverappraiser
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Like I said, I just got it in yesterday. Anything over 2.5 or 3 carats gets sent in for GIA certs, anything below it is left with the IGI cert, unless someone asks for it done. We've been selling colored gemstones and diamonds wholesale for the past 9 years. Diamonds were added later, I think 6 or 7 years ago. We've only recently started purchasing larger stones; this was our first over 7.5 carats, and only the fifth over 4.5.

 

Still though, I don't know the cause for the hostile attitude. Perhaps I haven't heard enough horror stories of buyers being ripped off, but it seems odd to me that you accuse and accuse of the absolute worst in people.

 

In all millions in sales we've done in these past nine years, we've only had two returns. One was a mistake made in the shipping, and the other just wasn't happy with his product. Small order, and we happily replaced it.

 

I'm certainly not the most experienced out there, but I'm no crook. I started PankratzGems with the help of a local jeweler when I was 15 and still living at home. I've worked my ass of these past 9 years; from $200 in my bank account and literally flipping burgers to over one-million in annual sales, and what I consider an impressive inventory (impresses me, anyway).

 

I've never felt so insulted before.

 

Mathew Pankratz

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Apologies Mathew,.

We've been here on the web for over 7 years.

And seen a lot of BS.

In general, diamonds of substance with non GIA reports are not viewed seriously by dealers.

If you've been in the biz, you know that.

If an 8 carat diamond is $5k a carat, it might not have a GIA report, and the dealer might have a good explanation.

At $40k ( 5k per carat x 8 carats) a dealer offering this non GIA diamond better have a good reputation, and reason why no GIA report exists.

 

of course today, $5k per carat does not buy very much in an 8 carat.

I again apologize fort the hostile attitude.

it comes from long hard experience with GIA and non GIA diamonds- combined with a lot of experience with sellers offering such stones as if they were the equal of diamonds with GIA reports.

 

Get a GIA for the diamond, you'll be much better off.

 

best wishes.

Edited by diamondsbylauren
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