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Q and A BULLETIN BOARD
Even though
we have tried to cover all the bases of
diamond-buying information,
there are
bound
to be additional questions from the more inquisitive types. Feel free to post your questions, and our
experts
will move
heaven and earth
to find the answer. Please check back often, as
topics
that you may find interesting will undoubtedly find their way to our
doorstep
(so to speak).
Q:
"I'm looking for a 3.00 carat diamond. Does idazzle.com's price list
also include larger stones than the range presented on the site? And if so,
how do I go about finding the price range for that stone? -AC, 12/98"
A:
"Thank you for your question! I am always excited by someone interested
in something as incredible as a 3 carat! Our price database includes
diamonds up to 2.50 carats, but over that weight, it becomes harder to
standardize prices. At this size range, hypothetical prices must be
compared against actual, available diamonds. For requests that are larger
than 2.50 carats (the largest size in our price database), or for more
unusual diamonds, I will research a realistic retail price range, as well as
the approximate idazzle.com price range. Then, when you are ready to see
actual diamonds, I would be happy to have an idazzle.com Authorized Jeweler
contact you with information on specific diamonds that come as close to your
request as possible. They would work within the idazzle.com price range, so
you would be assured of the quality you want, and would receive the pricing
quoted. By working with someone in your area, you would be able to see
diamonds compared in person. With the diamond you are interested in, this
is very important. If you are interested in our service, please send me an
email with your diamond request, as well as your phone number, zip code, and
email. Congratulations, and good luck!"
Q:
"I recently came across a 3 carat canary diamond. It is an estate piece
handed down from my Great Aunt. I am considering selling it and the jeweler
wants a considerable amount to sell the stone. I am wondering what would be
a fair consignment price to the jeweler. Do you think I should auction it?
If so what auctioneer would you recommend? Thank you."
A:
"Thank you for your question! It sounds as though you have a truly
lovely, and very rare, fancy diamond. Sometimes it is necessary to make a
consignment agreement to sell a piece of jewelry. Because of the value of
this diamond, if the Jeweler who has offered to sell it collects a fee or
percentage (and they will), that fee is going to sound steep. To be fair to
the Jeweler, they will definitely earn their fee. It will take the right
client, the right timing, and skillful selling to a collector of these types
of gems. You are paying for a professional expertise that most people in
the Jewelry industry do not have. Bottom line, you probably don't have the
connections to sell this on your own, and paying them a percentage of
anything is better than not collecting any money at all!
Regarding auctions, this is not my area of expertise, but I will say that
the best places to consider are Sotheby's, Christies, and perhaps Skinner
Auction House. You must be careful to set a reserve price that is the
lowest amount you would consider receiving for the diamond. Then compare
that to the price that the Jeweler might get, less his fee, and weigh the
options. It may take the Jeweler longer to find a buyer, but he may be able
to get more for the diamond. When collectors bid at auction, they are
educated, savvy buyers hoping to get a bargain from market prices, and only
if the gem is of historical or gemological significance will the price rise
above an expected pre-auction estimate (a phenomenally rare red or blue
diamond, for example). AND, remember that the auction houses collect a
(sometimes sizable) fee for their services, as well.
Of course, another option is to keep the diamond, and wear it. Because of
the family history, and the beauty of the fancy yellow, you could enjoy the
gem, then continue the tradition of handing it down. That is the real
significance of Jewelry: emotion. I do understand that the other benefit of
Jewelry is that you can then turn it back into more-liquid assets like
money. Whatever you choose to do, think about the implications carefully,
because once you sell this family stone, you cannot get it back. I wish you
luck!"
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