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Newby On Diamonds, Need Some Advice On Purchases...


metalhdmatt1
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I found this ring and the seller is willing to meet me at a jeweler store to verify authenticity of the Ring. Basically from the pics and specs of the ring, if it is what it is specified as, is 900$ a good deal. It seems to me like its cheap and that kinda worries me but then, im not sure about the market...Thanks in advance for all input

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The secret has to do with the grading.  A correctly graded 0.74/H/SI2/Pear goes for about $1,000 - $2000 from the dealers here and they charge several hundred dollars to put it in a ring like that.

 

Like all things diamond, the devil is in the details.  An I/I-1 is about half of that.  You’ve still got a reasonable enough deal if that’s what you’re looking for but the difference is important.  

 

Note: Having a jeweler confirm that it’s the same stone is NOT the same thing as having it graded by an  expert who is working for YOU.

 

http://www.diamondreview.com/diamonds/?sortOrder=price&sortDesc=0&fShape=Pear&fCaratLo=0.71&fCaratHi=0.80&fColorLo=H&fColorHi=H&fClarityLo=SI2&fClarityHi=SI2&fCutLo=&fCutHi=poor&fDepthLo=50.0&fDepthHi=80.0&fTableLo=40.0&fTableHi=80.0&fSymLo=&fSymHi=poor&fPolLo=&fPolHi=poor&fCulLo=&fCulHi=vlarge&fFlrLo=&fFlrHi=vstrong&fPriceLo=0&fPriceHi=1000000&fLabGIA=1

Edited by denverappraiser
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I think you are missing the point:

 

1. The ring doesn't matter as such - particularly if you don't care about it, it's only worth its scrap value (which is still about $100)

 

2. The value indicated on the appraisal is at best irrelevant, at worst bogus.

 

3. The question is what is the diamond. The only reliable pieces of information on the "appraisal" are the weight and the dimensions. The rest is VERY open to doubt, and in addition in SI (and I) clarity diamonds, the visibility of the inclusions has a major effect on price. Is that diamond worth (retail) $2000, or $700? If it is a $2000 diamond, then you may well have a reasonable deal; if it is a $700 diamond, the deal is far less attractive for you.

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so what you're saying is that it is possible that a point 74 carat diamond can be worth less than $900 if the clarity and color are at its worst. if it was at its worst I should be able to see something in the diamond or it would alot of yellow tint. would you buy it from a person to save 500 dollars or would you spend the money and buy from a creditable Diamond business

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so what you're saying is that it is possible that a point 74 carat diamond can be worth less than $900 if the clarity and color are at its worst.

Not necessarily "at its worst". As Neil pointed out above, the fair price of an I/I1 can be half of that of an H/SI2, and you are out only one grade on colour and clarity (which - to GIA standards - is what you could expect with a GIA report, never mind comparing across labs)

 

if it was at its worst I should be able to see something in the diamond or it would alot of yellow tint.

You don't need to have "worst" to have a significant drop in price. Here is an L, and next to it a G. Both photos are unretouched, taken by the same photographer, with the same camera, in the same environment:

 

r4952-blue-diamond-f.jpgr4906-infinity-blue-diamond-g.jpg

 

Not a "a lot of yellow tint" in either case, yet the G is about twice as expensive once you normalise for carat size.

 

would you buy it from a person to save 500 dollars or would you spend the money and buy from a creditable Diamond business

I don't know; I haven't seen the diamond, you have. My decision would depend on what I saw. The point I'm trying to make is that - unless you are really confident in your diamond grading skills - you don't know whether you are saving $500, or whether you are paying over retail prices.
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At $900, you're probably not paying over retail prices. even at it's worst (unless it's damaged or the wrong stone) and even at scrap metal for the mounting.  If we figure it's got $100 worth of gold in it, you're at about $800 for the stone.  Even at fairly low grade, that would take a bit of luck to find a seller with one cheaper in that size.  The problem, as I see it, is the variation in the options.  $800-$3000 is still quite a range.

 

Telling the difference between an H and an I is remarkably tricky.  Heck, the difference between an H and an L is hard if you don't have a bit of practice, good vision, and know what to look for.  I know a fair number of full time jewelers who can't do it for example.  Clarity is similar.  It's easy enough to rule out the ones that look like a sugar cube, but the SI2/I1 border call is not a slam dunk, even for a pro with a microscope.   You may not care, but it's the heart of your question.  The difference between a bargain and decent enough but unenthusiastic deal is in this issue.

Edited by denverappraiser
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