The Diamond Pro

Friends helping Friends in Difficult Economic Times

The following is a real email conversation between The Diamond Pro and a reader just like you who contacted us. Personal information is always removed. Learn from these posts, or contact us yourself to get free personalized help.

This was an interesting one for many reasons.  The stone is discussion is quite large.  It’s an unusually low color.  It turns out not to be certified.  It’s two friends, one with money, one without.  Lots of intrigue!

Hi Ira. I found that your website is very helpful. Thank you.

My friend ask me to buy her loose diamond but doesn’t know the fair price for it. It is a round, 8.29 ct, O color, diamond VS1 clarity.  Polish and Symetry very good, dimensions 13.10 x 13.20 x 7.9. Table 62%, flourescence [sic] Weak Yellow. We are having trouble to find an agreed price since rapaport does not prove the spec of this diamond.

Please help. Thank

Hi Natalie.  Tread carefully.  Tread VERY carefully.  I just spoke with a close friend of mine who is active in trading these sorts of diamonds and he said that a solid wholesale price for such a diamond would be about $6000 per carat.  So that would be around $50,000 total for the diamond.  I’m going to assume she wants significantly more because she probably didn’t buy it at a low wholesale price.

This, of course, assumes the grades you gave me are legitimate.  Is the diamond certified?  Is so, from what lab?

Real faint yellow fluorescence (and not medium or strong that some 3rd rate lab calls faint) shouldn’t affect the price.

If this person really is your good friend, I would suggest buying elsewhere.  It’s a zero-sum game — for every dollar one of you gains, the other one loses a dollar.  That can’t be good for a friendship.

Can I ask what your friend is asking for the diamond?  Is she basing it off of what she paid for it once upon a time?  If you would rather not answer publicly in the comments, feel free to email me.  If you’d be interested in buying something else, not from your friend, also contact me privately.

Thank you for your respond. My friend asked me to buy her diamond because she is currently in financial trouble. I’m willing to help her but I’m not going to get my self ripped-off.  The price she offer me is around 57,000. She got this price by looking at rapaport report on 5 ct M color VS1 and 10 ct M color VS1.  So it is 17,100 (M color vs1 10ct) + 11,300 (M color vs1 5ct) / 2 = 14,200. From that price she give me twice 30 back (14,200 – 30%) – 30% = 6958 per carat.

Is this a good deal?

The $6000 per carat price I told you was, first and foremost, an estimate.  So it’s most definitely not set in stone (no pun intended).  Furthermore, that’s a low wholesale price that a traders might sell between themselves in the diamond bourse.  So for you to pay 16% more is certainly reasonable.  It’s like what you would pay on Blue Nile, or any other online vendor.

If a wholesaler had the stone in inventory and didn’t want to just move it for a small profit, but decided to hold onto it and wait for a buyer who needs that kind of stone, he could ask well above 6000 per carat.  I saw some listed on industry wholesale sites for a lot more than 6000.

Is the diamond certified GIA?  If so, I’d say go for it (if you like the diamond, of course)

The certificate is not a GIA certificate. But it is made by a shop where they also has their lab. The owner is a GIA certified. Should it be trusted?

GIA graduate gemologists don’t necessarily know what they’re doing.  The problem is that to have that stone certified by GIA it would cost you several hundred dollars. (Probably round 800).  But it might be worth it on such a large purchase.   I would recommend against buying it until it’s certified by GIA.  After all, how objective could the store that sold the ring be?  If it just turns out to be a diamond VS2 and not VS1, that’s already a significant difference in price.

Yes your points are right. I will go with ur advise.

Thank you very much.

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