Would you buy a 1.12 ct L/M colored VS1 diamond for $3,000?

[queennadine]

To make a long story short: a good friend of mine is ending her engagement and breaking it off with her fiance.

Her engagement ring is a simple 6-prong Tiffany-style setting: 1.12 carats, L/M color, VS1 clarity.

She's going to sell it because she needs the money (for a new apartment and so on). She said she wants $3,000 for it and is going to start looking at pawn shops in the area.

I was thinking about talking to DH about getting it for us (well, really for me ). What do you think? I feel like we would be helping her out, and getting maybe a good deal in return.

Or could I find a better deal somewhere else down the road?

I'm not superstitious about stuff like that, so having her old diamond wouldn't bother me.

 

[Bagaday]

NO! Even though the clarity is quite high, with that low of color and what is the cut like? - $3K sounds really high. There's no way a pawn shop will give her that for a 1.12 ct. She would most likely get a thousand less, if not more. Sorry for being a naysayer.

 

[queennadine]

I don't know what the cut is. It faces up pretty white. I would have guessed it was an I/J just by looking at it.

 

[ahertz]

I'd take it to an independent appraiser first.

But please check pricescope.com before committing. I just did a really quick search and it looks like you could buy a very similar diamond from a reputable dealer for more like $2,300. She'd be lucky if she got more than about $1,200 from a jeweler.

 

[Christiflora]

Is it certified by GIA or AGS? If so, what is the number? From the certificate, you can find out more about the cut quality. If it is top cut (as determined by HCA score), then it is a good price.

 

[daluu]

i agree that you need to know the stats of the diamond like the cut. is it gia certified?

 

[dmitchell15]

Does her fiance the ring back? She might want to check before selling it. Most places would require her to give the ring back if she was sued in court.

 

[queennadine]

Her ring has an appraisal from the jewelry store her fiance bought it from. I also get my appraisals from there, and my parents are friends with the owner.

I don't think it's GIA or AGS anything.

She wants me to go with her next week to see if she can sell it. I guess I'll wait to see what places offer her. If they'll only offer her $1,200-$1,500 maybe I would offer $2,000.

 

[ame]

Go do a quick search on Pricescope's main page and see what a diamond of those specs goes for. If it would run about that much new, it would be a decent deal considering it's already in a setting.

 

[lovely64]

Good thing to go with her and hear what the shops offer her. I´m not superstitious about stuff like that either.

I don´t know much about diamonds, other than that they are much more expencive in Sweden (or so it seems). I have a 1,2 ctw apraised at $10 000 which would suggest that you buying your friends is a deal. Which it actually may not be.

 

[2manybags]

I wouldn't buy a diamond from anyone without a GIA OR AGS cert and an independent appraisal, NOT an appraisal from a jewelery store -especially the store where the diamond came from. I believe it only costs about $200 to have a diamond certified from GIA. Also, you have no way of knowing the cut quality without a cert -remember, cut is the most important factor when it comes to the beauty of a diamond,

 

[Crystalina]

I think it sounds like a great deal and I'd do it. I love warm colored stones!!!

 

[lovely64]

I wouldn't buy a diamond from anyone without a GIA OR AGS cert and an independent appraisal, NOT an appraisal from a jewelery store -especially the store where the diamond came from. I believe it only costs about $200 to have a diamond certified from GIA. Also, you have no way of knowing the cut quality without a cert -remember, cut is the most important factor when it comes to the beauty of a diamond,

I thought clarity was most important? Again, I don´t know much about diamonds so you´re probably right

 

[ahertz]

^^ Cut is the most important thing, for sure. Unless you're looking at stones in the I1 or I2, clarity shouldn't affect sparkle at all. I'd say color is the second most important characteristic.

 

[Vegas Long Legs]

You are the one who needs to love the stone & the ring. If it looks white to you, its your eye that needs to like it.
But don't buy it for $3g's.
She'll be lucky if she gets offered $1500.00
Tell her you'll give her a couple hundred bucks more than what a pawn shop will give her. Keep a max amount in your mind that you'd pay & stick to it.